Day: June 15, 2023

SOUTHAMPTON, Pa., June 14, 2023 (GLOBE NEWSWIRE) — Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today reported that on June 7, 2023, the Chairman of the Board of Directors of the Company received notification from Mr. Roger Colley that Mr. Colley will retire from the ETC Board of Directors as of the date of the Company’s upcoming 2023 annual meeting of shareholders. Mr. Colley has served as the Chairman of the Audit Committee since 2011 and is currently a member of the Nominating and Compensation Committees. Mr. Colley’s decision was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

“On behalf of the Board of directors, the management team and our shareholders, we thank Roger for his dedication and service and wish him and his family all the best in the future,” said George K. Anderson, ETC’s Chairman of the Board of Directors and Robert L. Laurent, ETC’s President and CEO.

Forward-looking Statements

This news release contains forward-looking statements, which are based on management’s expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, and these statements may include words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “future”, “predict”, “potential”, “intend”, or “continue”, and similar expressions. We base our forward-looking statements on our current expectations and projections about future events or future financial performance. Our forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results to be materially different from any future results implied by these forward-looking statements. We caution you not to place undue reliance on these forward-looking statements.

Contact: Robert L. Laurent, Jr., CEO
Phone: (215) 355-9100 x1200
Email: rlaurent@etcusa.com

GlobeNewswire Distribution ID 8858509

June 14, 2023

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) today announced that it will repurchase up to 7.1 million shares to cover certain of its obligations arising from its long-term incentive plans. At the current share price, the shares represent an amount of up to approximately EUR 132 million.

The repurchases will be executed through one or more individual forward transactions, expected to be entered into in the second and/or the third quarter of 2023, in accordance with the Market Abuse Regulation and within the limits of the authorization granted by the company’s General Meeting of Shareholders on May 9, 2023. Philips expects to take delivery of the shares in 2024 and 2025. Further details will be available via this link.

For further information, please contact:

Ben Zwirs
Philips Global Press Office
Tel.: +31 6 1521 3446
E-mail: ben.zwirs@philips.com

Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055
E-mail: derya.guzel@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2022 sales of EUR 17.8 billion and employs approximately 74,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Forward-looking statements

This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

GlobeNewswire Distribution ID 1000825302

SOUTHAMPTON, Pa., June 14, 2023 (GLOBE NEWSWIRE) — Environmental Tectonics Corporation (OTC Pink: ETCC) (“ETC” or the “Company”) today announces the appointment of Timothy Kennedy, CPA, CMA as the Company’s Chief Financial Officer and Treasurer, effective today.

Mr. Kennedy, age 54, has extensive experience, including ten years of advisory experience, six years as a Global Controller for a medical device manufacturer, and four years as a Chief Financial Officer for a mid-market manufacturer.

Most recently, Mr. Kennedy was Chief Financial Officer with AES Clean Technology. From 2012 to 2019 Tim was with Johnson & Johnson, in several capacities, from Director SOX Compliance to Finance Director. From 2002 to 2012, Mr. Kennedy was with Synthes Inc., where he served as Global Corporate Controller for six years and Director – Mergers and Acquisitions for four. Mr. Kennedy was with Pricewaterhouse Coopers LLP from 1997 to 2002 and with Deloitte & Touche LLP from 1992 to 1997.

Mr. Kennedy, CPA, CMA has a Bachelor of Science in Business Administration, Accounting (Magna Cum Laude) from Drexel University.

Robert L. Laurent, Jr. ETC’s Chief Executive Officer and President, stated, “Mr. Kennedy’s strong background and experience will be an excellent addition to the ETC management team.”

About ETC:

ETC designs, manufactures, and sells software driven products and services used to recreate and monitor the physiological effects of motion on humans, and equipment to control, modify, simulate and measure environmental conditions. Our products include aircrew training systems (aeromedical, tactical combat, and general), disaster management systems, sterilizers (steam and gas), environmental testing and simulation systems, and other products that involve similar manufacturing techniques and engineering technologies. ETC’s unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. ETC is headquartered in Southampton, PA. For more information about ETC, visit http://www.etcusa.com/.

Forward-looking Statements

This news release contains forward-looking statements, which are based on management’s expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, and these statements may include words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “future”, “predict”, “potential”, “intend”, or “continue”, and similar expressions. We base our forward-looking statements on our current expectations and projections about future events or future financial performance. Our forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results to be materially different from any future results implied by these forward-looking statements. We caution you not to place undue reliance on these forward-looking statements.

Contact:	Robert L. Laurent, Jr. CEO
Phone:	(215) 355-9100
E-mail:	info@etcusa.com

GlobeNewswire Distribution ID 8858466