AURORA, Ill., Jan. 6 /PRNewswire-FirstCall/ -- Cabot Microelectronics Corp. (Nasdaq: CCMP), the leading supplier of chemical mechanical planarization (CMP) polishing slurries to the semiconductor industry, today announced that it has posted additional corporate governance materials on the company's website, www.cabotcmp.com . The company's recent posting of the charters for each of the committees of the board of directors of the company along with its previous posting of information such as the company's Corporate Governance Guidelines, Code of Business Conduct, and Audit Committee Complaint Procedures, continues its efforts to provide convenient access to the public of Cabot Microelectronics' corporate governance practices and material. This information joins the company's existing website postings of presentations to investors and all of its SEC filings, including postings of all transactions in the company's stock by executive officers and directors by the end of the business day following the filing of Form 4's, Statement of Changes in Beneficial Ownership of Securities, for such transactions with the Securities and Exchange Commission (SEC).
"Cabot Microelectronics and our employees, officers and directors are committed to complying with high standards of corporate governance, and take seriously their obligations to comply with the securities and other laws, as well as our corporate governance policies, which include those regarding trading in company stock. Posting of additional corporate governance material to our website is another means by which we can provide convenient access to this important information to our investors and the general public," stated William P. Noglows, Cabot Microelectronics' Chairman, President and Chief Executive Officer.
All of the company's officers, directors and employees are required to comply with the company's Code of Business Conduct, securities laws and the company's policy regarding prohibitions on insider trading when engaging in any transactions involving the company's stock. With respect to transactions involving the company's stock, the company's executive officers, directors and certain employees, are also required to follow the company's trading guidelines for directors, officers and key employees, which include the requirement that any transactions take place only within certain open "window" periods throughout the year. Certain of the company's executive officers and directors have general plans to engage in the sales of company stock and the exercise of options from time to time at various intervals in the future in the interests of diversifying their respective financial holdings and for estate planning purposes. Any such sales will be at the initiative of the individuals involved and are not part of an existing contract, instruction or formal plan to sell securities adopted by any of such individuals. In addition, the company anticipates that officers, directors, and employees who hold options granted at the time of the company's initial public offering will exercise such options prior to their expiration in April 2005.
About Cabot Microelectronics Corporation
Cabot Microelectronics, headquartered in Aurora, Illinois, USA, is the world leader in the development and supply of high-performance polishing slurries used for chemical mechanical planarization (CMP), a process that enables the manufacture of the most advanced integrated circuit (IC) devices and hard disk drive components. The Company reported fiscal 2003 revenues of $251.7 million. For more information please visit the Cabot Microelectronics website at www.cabotcmp.com or call 630-499-2600.
Safe Harbor Statement
This news release may include statements that constitute "forward-looking statements" within the meaning of federal securities regulations. These forward-looking statements include statements related to future sales and operating results, company and industry growth and trends, growth of this market, international events, new product introductions and development of new products and technologies by Cabot Microelectronics. These forward-looking statements involve a number of risks, uncertainties, and other factors, including those described from time to time in Cabot Microelectronics' filings with the Securities and Exchange Commission (SEC), that could cause the actual results to differ materially from those described by these forward-looking statements. In particular, see "Risks Relating to Our Business" in Management's Discussion and Analysis in our annual report on Form 10-K for the fiscal year ended September 30, 2003, filed with the SEC. Cabot Microelectronics Corporation assumes no obligation to update this forward- looking statement.
Contact: William S. Johnson Vice President and Chief Financial Officer Cabot Microelectronics Corporation 630-375-6631
SOURCE Cabot Microelectronics Corp. -0- 01/06/2004 /CONTACT: William S. Johnson, Vice President and Chief Financial Officer of Cabot Microelectronics Corporation, +1-630-375-6631/ /Web site: http://www.cabotcmp.com / (CCMP) CO: Cabot Microelectronics Corp. ST: Illinois IN: CPR HRD MLM ENV CHM SU: SH-CM -- CGTU062 -- 0882 01/06/2004 17:00 EST http://www.prnewswire.com