SOURCE: ProPhotonix Limited

June 06, 2017 13:56 ET

ProPhotonix Limited: Option Grants Officers and PDMR

SALEM, NH--(Marketwired - Jun 6, 2017) -  ProPhotonix Limited (OTC PINK: STKR) (AIM: PPIX)

(OTC: STKR; AIM: PPIX)

ProPhotonix Limited Announces Grant of Options

(Salem, New Hampshire, June 6, 2017) ProPhotonix Limited (OTC: STKR and London Stock Exchange - AIM: PPIX), 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.

Contact:

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

Contact Information