Last checked at 10 Sep 2009 08:00
10th September 2009
Pursuit Dynamics PLC
("Pursuit" or the "Company")
Notice of General Meeting
Pursuit Dynamics plc (AIM: PDX), the developer of the PDX platform technology, announces that it has posted a notice of general meeting to shareholders in connection with the recent appointment of Roel Pieper as Chief Executive Officer of the Company.
The Company has entered into agreements both with Mr Pieper personally and, conditional upon shareholders' approval, with a consultancy company, Quantum Holdings Limited ("Quantum Holdings") for the provision of his services. As Quantum Holdings is a company connected with Mr Pieper for the purposes of section 252 of the Companies Act 2006, the agreement with Quantum Holdings requires the approval of the Company's shareholders.
The general meeting will be held at the offices of Pursuit at Shackleton House, Kingfisher Way, Hinchingbrooke Business Park, Huntingdon, Cambs, PE29 6HB on 25th September 2009 at 11.00 a.m. A resolution will be proposed to authorise the Company to enter into agreements with Quantum Holdings for the provision of Mr Pieper's services and to grant an option to Quantum Holdings over 1,841,610 ordinary shares in the Company under the Pursuit Dynamics plc 2009 Service Provider Share Option Plan at an exercise price of 95 pence.
Mr Pieper will also provide services to the Company under a Director's Service Agreement and the Company proposes to grant an option to him over 1,227,740 ordinary shares in the Company at an exercise price of 95 pence under the Pursuit Dynamics plc 2009 Employees Share Option Plan. Details of the Director's Service Agreement and the plans pursuant to which the options will be granted will be available for inspection at the Company's registered office until the day of the General Meeting and at the venue of the General Meeting on the day of the meeting.
For Further Information, please contact:
Pursuit Dynamics PLC
Roel Pieper, Chief Executive Tel: +44 (0)1480 422050
Donald Bell, Chief Financial Officer
Financial Dynamics
Ben Foster / Marc Cohen Tel: +44 (0) 20 7831 3113
Cenkos Securities plc
Ian Soanes/Max Hartley Tel: +44 (0)20 7397 8924
Mirabaud Securities LLP
Rory Scott Tel: +44 (0)207 878 3360
Notes to Editors
Pursuit Dynamics PLC (AIM: PDX) owns and commercialises the PDX fluid processing reactor whose benefits include significant reductions in energy usage, process acceleration and result enhancement for industries such as Bioethanol production, Food & Drink, Brewing, Fire Suppression and Decontamination.
Pursuit Dynamics is headquartered in Huntingdon, UK and has offices in Norwalk, Connecticut, and Fallbrook, California, USA.
Further information is available at the Company's website: www.pursuitdynamics.com