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
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...