Welcome!

News Feed Item

POET Technologies Announces Results of Annual Meeting

TORONTO, ONTARIO and STORRS, CONNECTICUT -- (Marketwired) -- 08/15/14 -- POET Technologies Inc. (TSX VENTURE:PTK)(OTCQX:POETF) ("the Company") - developer of the planar opto-electronic technology (POET) platform for monolithic fabrication of integrated circuit devices containing both electronic and optical elements on a single semiconductor wafer - announces the results of its Annual General & Special Meeting ("AGSM") held on August 12, 2014. The shareholders approved, with the requisite majorities, all matters presented to the meeting, including the 2014 Stock Option Plan, the By-Law No. 1 amendment, the possible Share Consolidation, the Shareholders' Rights Plan and the election of the following nominees to the Board of Directors as was proposed in the Information Circular:


    Peter Copetti                 Adam Chowaniec                
    Sheldon Inwentash             Ajit Manocha                  
    John F. O'Donnell             Dr. Samuel Peralta            
    Dr. Geoff Taylor              Chris Tsiofas                 

All directors received the required majority vote from shareholders. The shareholders also approved the re-appointment of Marcum LLP of Hartford, Connecticut, as the auditors of the Company for the ensuing year.

Shareholders were presented with updates by Mr. Peter Copetti, Dr. Taylor, and Messrs. Manocha, Gagnon and Shepherd, on the status the Company and the progress of the POET technology. Each reinforced that the core component of the Company's strategy going forward is to continue to develop the POET platform. POET enables monolithic fabrication of integrated circuit gallium arsenide devices containing both electronic and optical elements on a single wafer.

Following the AGM, shareholders were provided the opportunity to take a tour of the Company's ODIS facility to further reinforce the stated objective to drive efforts to monetize the POET platform. Shareholders in attendance were welcomed by the ODIS Team at the facility and given a showcase of the intricacy of this breakthrough technology.

In a subsequent meeting of the directors (the "Board Meeting") that followed the AGSM, the following executive officers were re-appointed for the ensuing year:


    Peter Copetti, Executive Chairman and Interim Chief Executive Officer   
    Ajit Manocha, Vice-Chairman of the Board                                
    Leon M. Pierhal, President                                              
    Kevin Barnes, Treasurer & Chief Financial Officer                       
    Stephane Gagnon, Senior Vice President of Operations                    
    Lee Shepherd, Vice President of Technology                              
    Michel Lafrance, Corporate Secretary                                    
    Blaine Grisel, Controller                                               

Mr. Daniel DeSimone, who has been Senior Vice President, Product Development of the Company's ODIS division since April, was also appointed the Chief Technology Officer ("CTO") of the Company. Dr. Geoff Taylor, the Company's Chief Scientist, noted: "Dan brings to POET a diverse background of circuit/product design and technology development experience from Fairchild Semiconductor and Tundra Semiconductor. These skills are expected to be instrumental in developing the electronic component of the POET platform."

Mr. Leon Pierhal, who did not stand for re-election as a director, will continue as President of the Company until September 30, 2014. Afterwards, Mr. Pierhal will remain as a consultant to the Company on a as needed basis in order to provide information and advice regarding any legacy issues which may arise from time to time. His options will remain in place for 12 months.

At the Board Meeting, incentive stock options were granted under the stock option plan, to certain directors, officers, key consultants and employees of the Company, to purchase up to an aggregate of 3,940,000 common shares, representing 2.41% of the outstanding shares of the Company.

Of these options, 4.8% were granted to key employees who are the technical staff related to the POET effort, 14.0% to the Company's officers, 64.0% to the non-officer Directors and 17.8% to Directors who are also officers. The stock options are exercisable at a price of CA$1.24 per share expiring August 12, 2019. Pursuant to the TSX Venture Exchange policies, the exercise price was fixed by the closing market price of August 11, 2014. The options will vest and be exercisable on the basis of 25% on the date of grant and 25% every six months thereafter.

The options were granted subject to provisions of the Company's stock option plan which was approved by shareholders on August 12, 2014 and are subject to the TSX Venture Exchange policies and applicable securities laws. There are currently 163,773,384 shares issued and outstanding and 26,307,750 stock options outstanding. For full details on the Company's share capital, refer to the Company's Financial Statements and the MD&A for the 6-months ended June 30, 2014 which were recently filed on SEDAR.

About POET Technologies Inc.

POET Technologies is the developer of the POET platform for monolithic fabrication of integrated circuit devices containing both electronic and optical elements on a single semiconductor wafer. With head office in Toronto, Ontario, Canada, and operations in Storrs, CT, the Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory. The Company has several issued and pending patents for the POET process, with potential high speed and power-efficient applications in devices such as servers, tablet computers and smartphones. The Company's common shares trade on the TSX Venture Exchange under the symbol "PTK" and on the OTCQX under the symbol "POETF". For more information please visit our website at www.poet-technologies.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Michel Lafrance, Secretary

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward -looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook.

Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding future growth, plans for and completion of projects by the Company's third party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of the Company's anticipated projects, delays or changes in plans with respect to the development of the Company's anticipated projects by the Company's third party relationships, risks affecting the Company's ability to execute projects, the ability to attract key personnel, and the inability to raise additional capital. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward- looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, will compare the Jevons Paradox to modern-day enterprise IT, e...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
What does it look like when you have access to cloud infrastructure and platform under the same roof? Let’s talk about the different layers of Technology as a Service: who cares, what runs where, and how does it all fit together. In his session at 18th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, an IBM company, spoke about the picture being painted by IBM Cloud and how the tools being crafted can help fill the gaps in your IT infrastructure.
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of companies worldwide-from publishers and broadcasters, to enterprises, marketing agencies and household-name brands. Building on its established design leadership, Adobe enables customers not o...