14 May 2015 11:00
May 14, 2015
ProPhotonix Limited
("ProPhotonix" or the "Company")
ProPhotonix Limited (London Stock Exchange - AIM: PPIX and PPIR, OTC: STKR), a designer and manufacturer of LED illumination systems and laser diode modules with operations in Ireland and the United Kingdom, today announces the upcoming consolidation of the Company's two existing registers for its shares that are admitted to trading on the AIM market operated by the London Stock Exchange plc ("AIM") into a single register under the PPIX trading code. With effect from close of trading on May 29, 2015, the PPIR trading line (ISIN USU743121068)will be cancelled and the Company will transfer 16,116,162 common shares from the PPIR line to the PPIX line (the "Transfer"). All AIM trading after this date will be under the Company's depositary interest (DI) line PPIX (ISIN US7434651060).
Currently, ProPhotonix shares trade on three lines, one on the OTC Pink marketplace operated by the OTC Markets Group in the United States of America (STKR) and two on AIM. All outstanding shares have identical voting rights. The AIM lines are organized as follows: (i) PPIX, unrestricted shares eligible for settlement through CREST as DIs; and (ii) PPIR, shares issued in accordance with Regulation S under the U.S. Securities Act of 1933, as amended, which are held and settled in certificated form.
The purpose of this change is to improve the liquidity of ProPhotonix' AIM listed shares and increase the transparency around ProPhotonix' share capital, total voting rights and market capitalization in order to provide shareholders with clarification of ProPhotonix' position in the market. All shareholders who are currently registered on the PPIR restricted register will receive instructions to transfer their PPIR shares to either the U.S. stock register or the PPIX line of trading.
The Company's web site also has instructions for PPIR shareholders to transition their shares to either the U.S. stock register or the PPIX trading line and for PPIX shareholders to replace their paper certificates with shares in electronic form.
The Company has today applied for the admission to trading of 196,024 new common shares ("New Shares") onto the PPIX line following the exercise of options by employees in 2011 and 2012. Application has been made for the New Shares to be admitted to trading on AIM and admission is expected to occur at 8am on 20 May 2015.
Following the admission of the New Shares, the Company's issued voting share capital will be comprised of 83,665,402 common shares, and each common share carries the right to one vote. These shares will trade on AIM under PPIX and trade over-the-counter in the United States of America under STKR.
For further information, visit the Company web site at www.prophotonix.com/investors/
Enquiries:
ProPhotonix Limited Tim Losik, President and CEO
| Tel: +1 603 893 8778 ir@prophotonix.com |
N+1 Singer Ben Wright, Richard Salmond | Tel: +44 (0) 207 496 3000 |
Nominated Adviser and Broker |
About ProPhotonix
ProPhotonix Limited, headquartered in Salem, New Hampshire, is an independent designer and manufacturer of diode-based laser modules and LED systems for industry leading OEMs and medical equipment companies. In addition, the Company distributes premium diodes for Ushio (formerly Opnext), Osram, QSI, Panasonic, and Sony. The Company serves a wide range of markets including the machine vision, industrial inspection, security, and medical markets. ProPhotonix has offices and subsidiaries in the U.S., Ireland, U.K., and Europe. For more information about ProPhotonix and its innovative products, visit the Company's web site at www.prophotonix.com
###########