Vistaprint 2007 Annual Report Download - page 41
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‰the ability of our board of directors to issue undesignated shares without shareholder approval,
which could be used to institute a “poison pill” that would work to dilute the share ownership of
a potential hostile acquirer, effectively preventing acquisitions that have not been approved by
our board of directors;
‰limitations on the removal of directors; and
‰advance notice requirements for election to our board of directors and for proposing matters
that can be acted upon at shareholder meetings.
In addition, the foregoing factors may prevent or delay our acquisition by a third party, even
though such transaction may be in the best interests of our shareholders.
Item 1B. Unresolved Staff Comments
None.
Item 2. Properties
Our registered office is in Hamilton, Bermuda. We have constructed two computer integrated
manufacturing print facilities for the production of our products. Our 160,000 square foot facility located
near Windsor, Ontario, Canada services the North American market. Our 54,000 square foot facility
located in Venlo, the Netherlands services markets outside of North America and we have recently
begun an approximately 77,000 square foot expansion of this facility. Our technology development,
marketing, finance and administrative offices are located outside of Boston, Massachusetts,
United States. We operate a customer design, sales and service center in Montego Bay, Jamaica. We
operate our European marketing office in Barcelona, Spain. Our web servers are located in data center
space at a Cable & Wireless co-location and hosting facility in Devonshire, Bermuda.
We own the real property associated with our printing facilities in the Netherlands and Canada.
The real property and facilities we own are listed below:
Location Square Feet Type
Venlo, the Netherlands 54,000 Manufacturing and office
Windsor, Ontario, Canada 160,000 Manufacturing and office
We have recently begun the expansion of our Venlo, the Netherlands, facility. It is currently
anticipated that such expansion will increase the overall size of that facility to approximately 131,000
square feet.
The properties we lease are listed below:
Location Square Feet Type Lease Expires
Lexington, MA, USA 163,000 Office April 26, 2017
Montego Bay, Jamaica 20,000 Office and design, sales and
service center
April 30, 2009
Montego Bay, Jamaica 5,000 Office and training and quality
assurance facility
Month-to-month
Barcelona, Spain 19,000 Office December 31, 2011
We believe that the total space available to us in the facilities we own and under our current
leases and co-location arrangements or obtainable by us on commercially reasonable terms, will meet
our needs for the foreseeable future.
Form 10-K
37