6 Jun 2017 07:00
June 6th, 2017
ProPhotonix Limited
("ProPhotonix" or "the Company")
Grant of Options
ProPhotonix Limited, (London Stock Exchange - AIM: PPIX, OTC: STKR), a high technology designer and manufacturer of LED illumination systems and laser diode modules, with operations in Ireland and the United Kingdom, announces that on June 5th the Company granted, in aggregate, 12,870,000 options over common shares under its 2014 Stock Incentive Plan, of which 10,795,000 have been granted to the following directors and PDMRs:
Grantee | Position | Maximum | Exercise Price |
Tim Losik | CEO | 5,250,000 | $0.2385 |
Philip Feeley | CFO | 420,000 | $0.2385 |
Jeremy Lane | PDMR | 1,575,000 | $0.2385 |
Simon Stanley | PDMR | 1,575,000 | $0.2385 |
David McGuinness | PDMR | 1,575,000 | $0.2385 |
Tina Lea | PDMR | 200,000 | $0.2385 |
Kevin Lee | PDMR | 200,000 | $0.2385 |
The option plan, for senior management, is based upon the achievement of certain results in the growth of the Company's "EBITDA", defined as earnings before interest, taxes, depreciation, amortization, stock-based compensation and impairment charges. The plan performance is measured annually and over the three-year period ending December 31, 2019 with vesting at various levels based on performance; vesting levels range from zero to the maximum as shown in the table above.
Enquiries:
ProPhotonix Limited Tim Losik, President and CEO
| Tel: +1 603 893 8778 ir@prophotonix.com |
Stockdale Securities Limited Tom Griffiths and David Coaten | Tel: +44 (0) 20 7601 6100 |
Nominated Adviser and Broker |
About ProPhotonix
ProPhotonix Limited, headquartered in Salem, New Hampshire, is a high technology 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 Oclaro), 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
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