ProPhotonix Limited ProPhotonix Announces Grant of Options (9124H)
March 16 2018 - 3:00AM
UK Regulatory
TIDMPPIX
RNS Number : 9124H
ProPhotonix Limited
16 March 2018
March 16, 2018
ProPhotonix Limited
("ProPhotonix" or "the Company")
Grant of Options
ProPhotonix Limited, (London Stock Exchange - AIM: PPIX &
PPIR, 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 the approval and grant
of options over 1,000,000 common shares under the 2014 Stock
Incentive Plan including the specific grants as follows:
Grantee Position Maximum Exercise
Options Price
-------------- ---------- --------- ---------
Edward Dolan CFO 350,000 $.1221
-------------- ---------- --------- ---------
Edward Dolan CFO 650,000* $.1221
-------------- ---------- --------- ---------
The first option is a service-based option vesting 50% each year
over the next two years. The exercise price is equal to the closing
share price on 14 March 2018.
* The second option relates to the option scheme for senior
management as announced in June, 2017, and 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 Tel: +1 603 893 8778
Tim Losik, President and ir@prophotonix.com
CEO
Cantor Fitzgerald Europe
(Nominated Adviser and Tel: +44 (0)207 894
Broker) 7000
David Foreman
Richard Salmond
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
######
This information is provided by RNS
The company news service from the London Stock Exchange
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