14th Feb 2007 11:47
Pursuit Dynamics PLC14 February 2007 14 February 2007 Pursuit Dynamics PLC ( the "Company") Result of EGM At an extraordinary general meeting of the Company held today, the specialresolution to disapply statutory pre-emption rights in relation to the allotmentof new ordinary shares (the "Placing Shares") in respect of a placing to raiseapproximately £7.6 million (net of expenses), was duly passed. It is anticipated that the Placing Shares will be admitted to trading on AIM at8.00 a.m. on 15 February 2007. John Heathcote, CEO Simon Hudson, Rachel DrysdaleCameron Mackenzie, Interim CFOPursuit Dynamics PLC Tavistock CommunicationsTel: +44 (0) 1480 422050 Tel: +44 (0) 20 7920 3150 ABOUT PURSUIT DYNAMICS Pursuit 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 March 2006, Pursuit completed a one year contract with DARPA, a USgovernmental defence research agency for an application of 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 ExchangeRelated Shares:
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