SALEM, NH--(Marketwired - Aug 5, 2014) - ProPhotonix Limited (
Tim Losik, President and CEO, stated "The Board is pleased to see this level of interest in the Company's equity at what represents a substantial premium to market price. The Company has taken significant steps to reduce costs over the past 16 months, while increasing revenue, with considerable progress achieved towards positive EBITDA and cash flow. The Directors of ProPhotonix look forward to a positive and constructive collaboration with the 600 Group, which is expected to become the Company's largest shareholder on August 8, 2014."
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 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
Contact Information:
Contact:
ProPhotonix Limited
Tim Losik
President and CEO
Tel: +1 603 870 8220
ir@prophotonix.com
N+1 Singer
Andrew Craig/ Ben Wright
Nominated Adviser and Broker
Tel: +44 (0) 207 496 3000