Gaming Realms Regulatory News (GMR)

8 Sep 2006 07:01

Pursuit Dynamics PLC08 September 2006 8 September 2006 PURSUIT DYNAMICS plc ("Pursuit Dynamics" or "the Company") MANAGEMENT TEAM STRENGTHENED, BOARD CHANGE Pursuit Dynamics, the developer and licenser of the innovative and patented PDXtechnology, which has applications across a broad range of industries, ispleased to announce four new appointments to its senior management team. The Company also announces the resignation of Christopher (Kester) Scrope asCommercial Director with immediate effect. Kester has resigned to pursue newinterests and has worked closely with Pursuit Dynamics on succession planning toensure a smooth handover. The Board thanks Kester for his contribution to thebusiness and wishes him well with his future career. The first two of the new appointments are for roles with responsibilities acrossthe entire business of the Company. Jens Thorup, 47, has become PursuitDynamics' Technical Director. Mr. Thorup has a strong capital/process equipmentbackground. For the last five years he has been Managing Director of Glunz &Jensen Ltd. Glunz & Jensen Ltd. is the UK subsidiary of Glunz & Jensen Group,which supplies pre-press and computer to plate equipment for the printingindustry and is listed on the Copenhagen Stock Exchange. Mr. Thorup was a mainBoard Member of Glunz & Jensen Group. Before this, Mr. Thorup was Glunz &Jensen's R&D Director in Denmark overseeing a department of some 70 engineers.Before becoming R&D Director, he spent eight years in similar roles in the foodprocessing industry, including working at Wolfking A/S, a leading manufacturerof food processing equipment. Mr. Thorup is a Danish citizen, has an MSc inMechanical Engineering from the University of Aalborg, speaks seven Europeanlanguages and has a number of patents to his name. The second group wide appointment is that of Andrew Neal, 44, who has taken up anew position within Pursuit Dynamics as Global Sales Director. Prior to joiningPursuit Dynamics, Mr. Neal was Sales Director of Invensys APV for the UK,Ireland and Benelux. In this role he managed the successful growth of theInvensys APV sales team and was closely involved in its transformation from anengineering-lead business into a customer focussed model. Mr. Neal has spent hiscareer to date in the capital equipment sector, specialising in food andbeverages. His initial focus will be to drive sales at the Company's newlycreated Pursuit Processing Equipment division ("PPE"). PPE was set up as an operating division of Pursuit Dynamics in April 2006 toprosecute the direct and indirect sales of process industry products developedby Pursuit Dynamics. It currently sells and supports equipment in the food andbeverage manufacturing sectors. BPT (Skerman) Ltd, the systems integrator andmanufacturer acquired by Pursuit Dynamics in March 2006, is part of PPE. The remaining two appointments are for new positions within PPE. Stephen Davies,48, has been appointed Managing Director of PPE. Prior to joining PursuitDynamics, Mr. Davies was Vice President Global Engineering & Technology atInvensys APV. In this role he managed a team of over 400 project executionengineers in 28 locations in addition to 80 R&D staff. He was responsible forall proposal, quotation and engineering execution on a substantial part ofInvensys APV's global projects business. Prior to this Mr. Davies was ManagingDirector of APV UK, Ireland and Southern Africa in which role he managed abusiness of 225 people. Mr. Davies is a Chemical Engineer graduate fromUniversity of Surrey, a Chartered Engineer and a holder of a ManagementDiploma from Henley Management College. Stephan von Jena, 47, has been appointed Vice President, Sales, North Americafor PPE, based in Pursuit Dynamics' US office inNorwalk, Connecticut. Mr. von Jena's career has been spent in a variety of USdomestic and international sales management roles for US corporations. He joinsPursuit Dynamics from Halox Technologies, Inc., a subsidiary of IDEX Corporation(NYSE: IEX), where he was Director, Market Development. IDEX Corporationmanufactures an array of engineered industrial products worldwide. Prior toIDEX, Stephan spent 14 years at Taprogge America Corporation, a wholly ownedsubsidiary of Taprogge GmbH, a global German equipment manufacturer thatoptimizes cooling water systems for a variety of industrial and infrastructureapplications. He held a variety of marketing and sales roles and was latterlyresponsible for the North American food and beverage sectors. Mr. von Jena is aBusiness Administration graduate of Northeastern University. John Heathcote, CEO of Pursuit Dynamics, commented: "The new members of ourmanagement team have track records of major achievement in their careers to dateand have all added substantial value to their previous businesses. We believe wehave attracted a group of highly talented people who bring the additional skillsand experience necessary to assist in the successful expansion of PursuitDynamics. We look forward to working closely together." For further information on Pursuit Dynamics, please visitwww.pursuitdynamics.com or contact: John Heathcote, CEO Simon Hudson, Rachel Drysdale,Gary Pyle, CFO Paul DulieuPursuit Dynamics plc Tavistock CommunicationsTel: +44 (0) 1480 422050 +44 20 7920 3150 or 07966 477256 ABOUT PURSUIT DYNAMICSPursuit Dynamics plc owns, and is developing, a patented platform technologywith applications across a number of industries. The core technology is based ona gas driven, supersonic shockwave system that produces controllable mixing,heating and process flow rates. Pursuit Dynamics operates as an R&D, directsales and licensing company and has already proved the application of itstechnology in the food industry. Its PDX(R) Sonic fluid processing product,which is a highly efficient system for use in the manufacture of prepared foodsand soft drinks, was launched in January 2005 and has been licensed to a numberof leading industry players in the EU, USA and Central America. Other potentialindustry areas under development include applications for waste treatment,brewing, personal healthcare and oil and gas. In addition to its applicability to process flow manufacturing industries, thetechnology has been adapted to address the markets for fire suppression anddecontamination. FireMist(R), Pursuit Dynamics' patented fire suppressiontechnology, is the most effective of all commercially available water mistsystems and has successfully extinguished Class A and B fires in building andaircraft simulation fire tests. In December 2005, Pursuit granted an exclusiveglobal licence for fire suppression to Tyco Fire & Building Products, a divisionof Tyco International Ltd (NYSE: TYC; BSX: TYC), the world leader in firesuppression. First revenues from this agreement are anticipated in 2007. In July 2005, Pursuit announced the signing of a one year contract with DARPA, aUS governmental defence research agency to use its PDX(R) Basiliskdecontamination system. The system has a number of applications fordisinfection, human and animal healthcare and in the defence industry,principally in chemical and biological defence applications. Pursuit Dynamics is headquartered in Huntingdon, UK and has a US office inNorwalk, Connecticut. It is quoted on the AIM market of the London StockExchange (ticker: PDX). This information is provided by RNS The company news service from the London Stock Exchange