Also as of March 21, 2012, a notice of this annual meeting of stockholders proxy statement and proxy card was deposited in the United States mail to the stockholders of record as of the close of business on March 6, 2012, if they had previously requested paper delivery of the proxy material. The affidavits of mailing will be filed within minutes of this meeting. In accordance with Cadence's bylaws, the Board of Directors has appointed [Renee Delrial] of Computershare Shareowner Services to act as Inspector of Elections at this meeting. Mr. Delrial has previously taken his oath as Inspector of Elections.
I have been informed by the Inspector of Election that proxies have been received for 256,495,766 shares of 274,440,440 shares of common stock outstanding on the record day which represents approximately 93.46% of the total number of issued and outstanding shares entitled to vote. This constitutes quorum. I hereby declare this meeting to be duly constituted for the transaction of all business. If any stockholder or proxy holder is not registered his, her or its attendance please do so now with the Inspector of Election. This is necessary so that the Inspector or Elections can determine the exact number of shares present at this meeting for voting purposes.
Also if you have not yet submitted your proxy, please do so now. If you need a ballot, please raise your hand. If already submitted your proxy, you need a ballot only if you wish to change your vote. Properly completing and submitting your ballot to the Inspector of Elections this meeting will have the effect of revoking any proxy that you previously submitted.