ProPhotonix Limited ProPhotonix Appoints Chief Financial Officer (7615G)

TIDMPPIX

RNS Number : 7615G

ProPhotonix Limited

05 March 2018

March 5, 2018

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

ProPhotonix Limited

("ProPhotonix" or "the Company")

Appointment of Chief Financial Officer

ProPhotonix Limited (London Stock Exchange -- AIM: PPIX and 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, today announces the appointment of Edward Dolan as the Company's Chief Financial Officer (non-Board) with immediate effect.

Edward ("Ed") has joined the Company from AC Lordi, a private equity backed professional services firm, and has previously held positions at Nypro (a Jabil company), Yankee Candle Corporation - where he acted as Director of Accounting with responsibility for all activities of the accounting group - and 3COM Corporation, where Ed managed the corporate accounting group. Ed is a certified public accountant (CPA) and worked for Price Waterhouse Coopers, LLP earlier in his career.

Phil Feeley, who has acted as the Company's Corporate Controller and then its Chief Financial Officer for over 12 years, is retiring at the end of May, until which time he will carry out an orderly handover of his responsibilities.

Tim Losik, President and CEO of ProPhotonix, stated -- "We are pleased to welcome Edward to ProPhotonix at an exciting time for the Company. Ed brings a wealth of experience and talent and I look forward to working closely with him as we continue to grow our business.

"Phil has made a significant contribution to the Company over the past 12 years and, on behalf of the Board, I would like to thank him for his dedication and commitment to the Company and wish him the very best in his retirement."

 
Enquiries:                       [e-mail] 
 ProPhotonix Limited 
Tim Losik, President and         Tel: [phone] 
 CEO 
Cantor Fitzgerald Europe 
 (Nominated Adviser and Broker)    Tel: [phone] 
 Andrew Craig 
 Richard Salmond 
 

About ProPhotonix

ProPhotonix Limited, headquartered in Salem, New Hampshire, is a high technology designer and manufacturer of LED illumination systems and laser diode modules 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.

Cautionary Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical fact, including without limitation, those with respect to ProPhotonix's goals, plans and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: uncertainty that cash balances may not be sufficient to allow ProPhotonix to meet all of its business goals; uncertainty that ProPhotonix's new products will gain market acceptance; the risk that delays and unanticipated expenses in developing new products could delay the commercial release of those products and affect revenue estimates; the risk that one of our competitors could develop and bring to market a technology that is superior to those products that we are currently developing; and ProPhotonix's ability to capitalize on its significant research and development efforts by successfully marketing those products that the Company develops. Forward-looking statements represent management's current expectations and are inherently uncertain. All Company, brand, and product names are trademarks or registered trademarks of their respective holders. ProPhotonix undertakes no duty to update any of these forward-looking statements.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 06, 2018 02:00 ET (07:00 GMT)