ProPhotonix Limited ProPhotonix Reports Holding(s) in Company 9/2017 (8924P)

TIDMPPIX

RNS Number : 8924P

ProPhotonix Limited

06 September 2017

September 6, 2017

ProPhotonix Limited

("ProPhotonix" or the "Company")

Holding(s) in Company

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 recent changes in the Company's significant shareholders. On August 31, 2017, the 600 Group PLC ("600 Group") sold its entire interest of 22,042,143 common shares in the Company ("Common Shares"), representing approximately 24.3% of ProPhotonix's issued share capital.

In connection with the above sale, the following investors each acquired shares in the Company and holds more than 3% of the Company's issued share capital:

 
                        Number     Percentage 
     Beneficial        of Common    of Voting 
        Owner           Shares       Rights 
-------------------  -----------  ----------- 
 Gresham House 
  Strategic 
  PLC                 4,993,492          5.5% 
 Hargreave 
  Hale LTD            4,993,492          5.5% 
 
 Herald Investment 
  Management 
  Limited             4,993,492          5.5% 
 
 Miton Group 
  PLC                 4,993,492          5.5% 
 
 
 
 
 
 
 
 

The Company announced on August 21, 2017 the admission to trading on AIM of the Restricted Stock Line, PPIR. The Restricted Stock Line (as represented by Depository Interests) is held in the CREST system and is segregated into a separate trading system within CREST, identified with the marker "REGS" and ISIN USU743121142. The Restricted Stock Line enables holders of the shares, who are not United States Persons, to trade the shares within the CREST system and to ensure the shares do not trade to a United States Person, in accordance with Regulation S promulgated under the US Securities Act 1933 as amended ("Securities Act") during the distribution compliance period of one year from the date of acquisition by the buyers in the Sale, and until the applicable requirements of Rule 144 under the Securities Act are met. Neither the Sale nor the Restricted Stock Line has increased the number of issued and outstanding Common Shares, as all shares were already issued and outstanding, and the number of Common Shares issued and outstanding remains at 90,825,402.

Tim Losik, CEO and President of ProPhotonix stated, "We are delighted with the interest shown in ProPhotonix by our four new well regarded institutional shareholders. The strategy of the Company has shifted from capital repositioning and debt repayment, initiated in 2013, to investment for growth and the institutionalization of our shareholder register demonstrates strong support for this change in strategy."

Enquiries / Contacts

ProPhotonix Limited

   Tim Losik, President and CEO                     Tel: [phone] 

[e-mail]

Stockdale Securities Limited

   Tom Griffiths / David Coaten                      Tel: [phone] 

Nominated Adviser and Broker

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.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 06, 2017 02:00 ET (06:00 GMT)