PHI’s Board of Directors proposes signing Altium as global distributor partner
Phase Holographic Imaging (PHI) informs the market that PHI’s Board of Directors decided to propose signing Altium S.A., which also is the Company’s largest shareholder, as a global PHI distributor partner. PHI will publish the notice for an extraordinary general meeting, to vote on this proposal, through a separate press release.
Altium, a major distributor organization for laboratory solutions and since March 2023 PHI’s largest investor, shares PHI’s belief that regenerative medicine will revolutionize healthcare, providing cures for diseases that are currently incurable. Altium also recognizes the potential for PHI’s non-invasive cell analysis method as a critical component for standardizing cell quality control in regenerative medicine.
On October 24, 2023, the parties agreed to enter into a distribution agreement, which shall become effective after the approval of the shareholders at an upcoming extraordinary general meeting.
As the largest shareholder, Altium intends to actively utilize its extensive distributor network and global sales contacts to significantly impact PHI’s product sales in its designated territories. With the distribution agreement, Altium receives the right to market and sell PHI’s products by managing the full sales process and customer relations for the HoloMonitor® product portfolio.
“Looking ahead to 2025 and beyond, Altium aims to actively guide PHI’s transformation into a positive cash flow and dividend-yielding company, contributing to the future of medicine,” comments Altium CEO and PHI board member Goran Dubravčić.
“We value having Altium’s active support for our shared vision regarding the potential of regenerative medicine and our PHI technology,” states PHI CEO Patrik Eschricht.
This disclosure contains information that Phase Holographic is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 26-10-2023 17:59 CET.
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