POET Technologies Announces Annual General Meeting
Post# of 1145
Posted On: 04/04/2014 9:46:55 AM
POET Technologies Announces Annual General Meeting, Stock Option Grant to New Staff Member and Deferral of Board Fees Increase and Options
http://www.stockhouse.com/news/press-releases...ant-to-new
TORONTO, ONTARIO and STORRS, CONNECTICUT--(Marketwired - April 4, 2014) -
POET Technologies Inc. (TSX VENTURE PTK) (OTCQX POETF) ("POET" or "the Company"), make the following announcements.
Annual General Meeting
The Company announces that the Board of Directors met on April 3, 2014 and scheduled its Annual General Meeting ("AGM") for Tuesday, August 12, 2014 in Storrs, Connecticut. The Company anticipates that Proxy Material will be mailed to Shareholders by mid-July.
The AGM is being held at Storrs to allow shareholders to visit the lab facilities and be provided an updated overview of the ODIS facility, including any new advances achieved through the installation of new equipment, including the upgraded molecular beam epitaxy (MBE) facility. The overview will further reinforce the Company's drive to commercialize the POET platform, and we welcome the opportunity to showcase these developments to shareholders. Further details of the AGM will be announced as they become available.
Option Grant
As previously announced, Mr. Daniel DeSimone, joined the staff at the POET laboratories as Senior Vice President, Product Development of ODIS Inc. The Board of Directors approved the grant of 200,000 stock options pursuant to the Company's stock option plan. The stock options are exercisable at a price of CA$1.44 per share expiring April 3, 2019. Pursuant to the TSX Venture Exchange policies, the exercise price was fixed by the closing market price of April 2, 2013. The options will vest and be exercisable on the basis of 25% in 90 days and 25% every six months thereafter.
Deferral of Board Fees Increase and Options
In addition with the above options grant, and in accordance with its Corporate Governance and Compensation Charters, the Board considered the compensation framework of its members. Despite various indicators - an increase in Director workload due to regulatory requirements, and industry increases in Directors' fees as documented by the National Association of Corporate Directors of between 4 and 13% - the Board has again deferred an increase in Directors' fees and deferred options grants for the Board.
Peter Copetti, Executive Chairman and interim CEO, noted "This Board has added, and continues to add, great value to the Company. Their commitment to POET shareholders, and to the POET technology and vision, is steadfast and their actions over the last two years have proven so. I thank them all personally for their time and energy."
http://www.stockhouse.com/news/press-releases...ant-to-new
TORONTO, ONTARIO and STORRS, CONNECTICUT--(Marketwired - April 4, 2014) -
POET Technologies Inc. (TSX VENTURE PTK) (OTCQX POETF) ("POET" or "the Company"), make the following announcements.
Annual General Meeting
The Company announces that the Board of Directors met on April 3, 2014 and scheduled its Annual General Meeting ("AGM") for Tuesday, August 12, 2014 in Storrs, Connecticut. The Company anticipates that Proxy Material will be mailed to Shareholders by mid-July.
The AGM is being held at Storrs to allow shareholders to visit the lab facilities and be provided an updated overview of the ODIS facility, including any new advances achieved through the installation of new equipment, including the upgraded molecular beam epitaxy (MBE) facility. The overview will further reinforce the Company's drive to commercialize the POET platform, and we welcome the opportunity to showcase these developments to shareholders. Further details of the AGM will be announced as they become available.
Option Grant
As previously announced, Mr. Daniel DeSimone, joined the staff at the POET laboratories as Senior Vice President, Product Development of ODIS Inc. The Board of Directors approved the grant of 200,000 stock options pursuant to the Company's stock option plan. The stock options are exercisable at a price of CA$1.44 per share expiring April 3, 2019. Pursuant to the TSX Venture Exchange policies, the exercise price was fixed by the closing market price of April 2, 2013. The options will vest and be exercisable on the basis of 25% in 90 days and 25% every six months thereafter.
Deferral of Board Fees Increase and Options
In addition with the above options grant, and in accordance with its Corporate Governance and Compensation Charters, the Board considered the compensation framework of its members. Despite various indicators - an increase in Director workload due to regulatory requirements, and industry increases in Directors' fees as documented by the National Association of Corporate Directors of between 4 and 13% - the Board has again deferred an increase in Directors' fees and deferred options grants for the Board.
Peter Copetti, Executive Chairman and interim CEO, noted "This Board has added, and continues to add, great value to the Company. Their commitment to POET shareholders, and to the POET technology and vision, is steadfast and their actions over the last two years have proven so. I thank them all personally for their time and energy."
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