Last checked at 19 Jun 2013 07:00
19 June2013
Pursuit Dynamics PLC
("PDX" or the "Company')
Sale of the Atomiser Patent Rights
Pursuit Dynamics (AIM: PDX) announces that it has entered into an agreement to assign its Atomiser patent rights and certain related know-how to Tyco Fire & Security Gmbh. The consideration comprises a cash payment of US$100,000. In addition, the existing 2005 licence agreement between PDX and Tyco Fire Products LP has been novated by PDX to Tyco Fire & Security Gmbh in line with the Group's strategy of eliminating all liabilities associated with the existing business.
The Board continues to explore opportunities in relation to the Company's remaining operating businesses with a view to eliminating the Company's remaining liabilities.
A further announcement will be made in due course.
For further information, please contact:
PDX | +44 (0)1480 422 050 |
Dr Bernard Bulkin, Chairman
| |
Cenkos Securities plc |
+44 (0)20 7397 8900 |
Ian Soanes | |
Max Hartley | |