Printer Friendly

PERCEPTRON ANNOUNCES SPECIAL SHAREHOLDERS MEETING

    FARMINGTON HILLS, Mich., Aug. 13 /PRNewswire/ -- Perceptron, Inc. (NASDAQ-NMS: PRCP) announced today that it would hold a special meeting of shareholders on Thursday, Sept. 30, 1993, at 9 a.m. at the company's corporate headquarters in Farmington Hills, Mich.  At the meeting, Perceptron will seek shareholder approval for a proposed amendment to its 1992 Stock Option Plan increasing the number of shares of common stock available thereunder by 650,000 shares.
    Perceptron intends to utilize the additional option shares to continue its performance-based compensation programs, including recent proposed stock option grants to Perceptron's executive officers and management team for an aggregate of 380,000 shares.
    "This performance-based compensation program is a critical element in our recently announced shareholders value enhancement plan, as it more closely aligns management's objectives with those of our shareholders," commented James E. McGrath, chairman.  "This proposed pool will be used to reward management for increasing the value of our company during 1993 and 1994, as well as give us the ability to attract and retain additional senior management as we expand our business and achieve higher performance levels."
    Perceptron, Inc. is a leading 3-D imaging solutions company which develops and markets non-contact measurement and guidance systems.  Its laser-based datacameras, image-processing hardware and proprietary software are used by leading auto makers, automation system companies and other manufacturers in object recognition, measurement, guidance and inspection applications.  Perceptron products are marketed in North America, Europe and Asia.
    -0-             08/13/93
    CONTACT:  Dwight D. Carlson, president and CEO of Perceptron, 313-478-7710, or Robert C. Hubbell of Edelman Worldwide, 212-704-8255
    (PRCP) CO:  PERCEPTRON, INC. ST:  MI


-- NY044 -- X664 08/13/93
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 13, 1993
Words:271
Previous Article:BALLY MANUFACTURING CORPORATION ANNOUNCES EXPANSION OF TUNICA DOCKSIDE CASINO
Next Article:CALIFORNIA QUARTZ RECEIVES CONTRACT FROM ULTRA VIOLET DEVICES
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters