MT. LAUREL, N.J., Oct. 15 MedQuist Inc.(Pink Sheets: MEDQ) today announced plans to file a preliminary proxystatement with the Securities and Exchange Commission (SEC) regarding anupcoming annual meeting of its shareholders and to apply for listing onNASDAQ.
The Company became current in its periodic reporting obligations with theSEC on October 4, 2007 with the filing of its Form 10-Q for the second quarterof 2007. The Company now meets the applicable securities law requirements forsoliciting proxies in connection with an annual meeting of shareholders forthe first time since 2003, the year in which the Company last held an annualmeeting. The Company anticipates filing a preliminary proxy statement on orabout November 9, 2007, the date on which it anticipates filing its Form 10-Qfor the third quarter of 2007 with the SEC. The Company plans on holding theannual meeting within thirty days of the date on which a definitive proxystatement is mailed to its shareholders. At the annual meeting, shareholderswill be asked to, among other things, elect individuals to serve on theCompany's Board of Directors. The Company has received director nominationsfrom a minority shareholder which will be reviewed by the NominatingCommittee.
The Company also intends to apply for listing of its common stock on theNASDAQ Global Select Market on or about November 9, 2007. The Company'scommon stock has traded on the over-the-counter "Pink Sheets" market under thesymbol "MEDQ.PK" since June 16, 2004, the date on which its common stock wasdelisted from the NASDAQ National Market.
NOTICE TO SHAREHOLDERS:
In connection with the Company's upcoming annual meeting of shareholders,the Company will be filing a proxy statement and potentially other relevantdocuments concerning the annual meeting with the SEC. BEFORE MAKING ANYDECISION REGARDING ANY OF THE BUSINESS PROPERLY BROUGHT BEFORE THE ANNUALMEETING, SHAREHOLDERS OF THE COMPANY ARE URGED TO READ THE PROXY STATEMENT ANDANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLEBECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Shareholders can obtain freecopies of the proxy statement and other documents when they become availableby contacting Investor Relations, MedQuist Inc., 1000 Bishops Gate Blvd.,Suite 300, Mt. Laurel, NJ 08054. In addition, documents filed with the SECwill be available at no charge on the SEC's website at www.sec.gov. TheCompany and its executive officers and directors may, under SEC rules, bedeemed to be participants in the solicitation of proxies from shareholders ofthe Company in connection with the upcoming annual meeting. Certaininformation about such individuals (including their ownership of shares of theCompany's common stock) is set forth in the Company's Form 10-K for the yearended December 31, 2006, which is available free of charge from the SEC andthe Company as indicated above.
MedQuist is a leading provider of clinical documentation workflowsolutions in support of the electronic health record. MedQuist provideselectronic medical transcription, health information and document managementproducts and services, including digital dictation, speech recognition, Web-based transcription, electronic signature, medical coding, mobile dictationdevices, and outsourcing services.
Disclosure Regarding Forward-Looking Statements:
Some of the statements in this Press Release constitute "forward-lookingstatements" within the meaning of the U.S. Private Securities LitigationReform Act of 1995. These statements are not historical facts but rather arebased on the Company's current expectations, estimates and projectionsregarding the Company's business, operations and other factors relatingthereto. Words such as "may," "will," "could," "would," "should,""anticipate," "predict," "potential," "continue," "expects," "intends,"