ProPhotonix Limited Announces Notice of GM

Rhea-AI Summary

ProPhotonix Limited (STKR) announced a Special Shareholder Meeting scheduled for December 15, 2021, to approve its acquisition by Exaktera, LLC and the subsequent cancellation of its common stock from trading on AIM. Stockholders of record as of November 11, 2021, will be eligible to vote. Key dates include the execution of the merger agreement on November 10 and the last day for lodging proxy forms on December 13. The last dealing in common stock on AIM will occur on December 16, 2021. Stockholders will commence receiving payment for the acquisition price starting December 16.

Positive

• Announcement of a Special Shareholder Meeting to approve an acquisition, potentially enhancing ProPhotonix's business operations.
• Set timetable provides clarity on merger and stock cancellation process.

Negative

• Cancellation of common stock from trading on AIM could limit liquidity for existing shareholders.
• Acquisition may introduce uncertainties related to integration and future performance.

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.

SALEM, NH / ACCESSWIRE / November 17, 2021 / ProPhotonix Limited (AIM:PPIX)(OTC PINK:STKR), a high technology designer and manufacturer of LED illumination systems and laser diode modules, with operations in Ireland and the United Kingdom, announces that its Notice of Special Shareholder Meeting ("SSM") to approve the proposed acquisition by Exaktera, LLC and the cancellation of its common stock from trading on AIM has been posted to stockholders today and is available on the Company's website.

The Company's SSM will be held on December 15, 2021 at 11:30 a.m. Eastern Time (U.S.) at the offices of Nutter, McClennen & Fish LLP, 155 Seaport Boulevard, Boston, Massachusetts, 02210, United States. Only stockholders of record at the close of business on November 11, 2021 are entitled to notice of, and to vote at, the SSM.

The Notice of the SSM can be viewed and downloaded from the Company's website at www.prophotonix.com and further details of the transaction are set out in the announcement of 11 November 2021.

The confirmed timetable of events s as follows:

Expected Timetable of Principal Events

Event	Time and/or Date
Execution of Merger Agreement	10 November 2021
Last time for lodging the Form of Direction	11:30 a.m. Eastern Time (U.S.) on 10 December 2021
Record Date for determining the Stockholders entitled to vote at and receive notice of the Stockholders Meeting	11 November 2021
Last time for lodging the Form of Proxy	11:30 a.m. Eastern Time (U.S.) on 13 December 2021
Last time for lodging the Form of Declarations	11:30 a.m. Eastern Time (U.S.) on 13 December 2021
Stockholders Meeting of Company	11:30 a.m. Eastern Time (U.S.) on 15 December 2021
Distribution of the Proxy Statement and Notice of Stockholders Meeting	16 November 2021
Last day of dealing in Company Common Stock on AIM	16 December 2021*
Closing of the Acquisition	16 December 2021*
Payment of Acquisition Price to Stockholders commences**	16 December 2021*
Termination of the Depository Interest Register	7:00 a.m. London Time on 17 December 2021
Date of Cancellation	7:00 a.m. London time on 17 December 2021*

*Subject to satisfaction or waiver of other conditions to closing as provided for in the Merger Agreement.

Enquiries:

ProPhotonix Limited
Tim Losik President and CEO
Tel: +1 603 893 8778
Email: ir@prophotonix.xom

WH Ireland
Katy Mitchell Nominated Adviser and Broker
Ben Good Tel: +44 (0) 20 7220 1666

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, Osram, QSI, Panasonic, and Sony. The Company serves a wide range of markets including the machine vision, industrial inspection, security, UV curing, 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: ProPhotonix Limited

View source version on accesswire.com:
https://www.accesswire.com/673299/ProPhotonix-Limited-Announces-Notice-of-GM

FAQ

What is the purpose of the Special Shareholder Meeting for STKR on December 15, 2021?

The meeting aims to approve the proposed acquisition by Exaktera, LLC and the cancellation of ProPhotonix's common stock from trading on AIM.

When is the last day for lodging proxy forms for the STKR Special Shareholder Meeting?

The last day for lodging proxy forms is December 13, 2021.

What will happen to STKR stock after the Special Shareholder Meeting?

Common stock will be cancelled from trading on AIM on December 16, 2021, following the acquisition.

What are the key dates for the ProPhotonix acquisition process?

Key dates include the execution of the merger agreement on November 10, last proxy submission on December 13, and stock cancellation on December 16, 2021.