Pursuit Dynamics plc is a UK based research and development company, which was founded in 2000 to develop and commercialise a revolutionary pumping and propulsion technology. Pursuit Dynamics (symbol: PDX) was listed on the Alternative Investment Market of the London Stock Exchange in May 2001.



PDX 25 Sonic.

The PDX Technology is a steam-based system that has applications in both pumping and marine propulsion. It is cheap to manufacture, extremely robust, contains no moving parts and is virtually impossible to block. Pursuit Dynamics owns 100% of the Intellectual Property Rights that surround the PDX Technology.



Pursuit Dynamics is now working towards the commercialisation of the technology it has developed.





Corporate website : http://www.pursuitdynamics.com/


Pursuit are rumoured to be close to closing their first deals, which may be in the food processing industry.

2 days left for agreement. will they extend it again?

Just what I was wondering ssanebs - though the price ticked up nicely yesterday.
The market will be disappointed if the deal does not get done by friday. Any whispers out there?

Havent heard anything but the price has been ticking up nicely over the last month, brokers note of 4.00 if the deal with the unnamed company is signed. Happy to be holding as believe lots of potential for this technology. Happy times ahead hopefully.

Where can I get hold of the broker's note?

obviously, it will go down if the deal is delayed. spoke to durlacher who said the deal is still on and is complex due to patents and licences to be granted, tried to ring the company and they would not talk to anyone regarding the deal. so maybe it is imminent

ssanebs,

Either a tree shake today, or some people think there won't be a good anouncement within the next few days.

Hard one to call, IMHO, I remain a holder, and hoping that there will be good news.

>>Andy

I'm not following you honest!!

I think this is the sort of stock where if people get nervous they ditch. Don't think the price fall is any more than that. I'm thinking of buying.

Looks as if the MM's are doing some hefty tree shaking, down 13% and for no other reason other than they must be desperate to get some stock to fill a large buy order, as we should be getting very positive news on the confectionery manufacturer deal end of this week or begining of next.

gallick / legins,

Agree with both your comments, and am thinking of topping up if the price shows stability tomorrow.

Hard one to call this, bad news or MM games?

I hope it's the latter of the two!

tomorrow is the last day of the extension, an announcement has to be made, i think an extension is likely and the stock will trace back again to 120 level.

It's best for investors not to sell into tree shaking but to hold IMHO and keep up the support price. BUYs 510k SELLs 723k so MM's only got about 213k stock today and most sells have been 20 - 30k so most likely are only by small holders triggered automatic stop-loss sells.

Down today then ?

http://www.uk-wire.com/cgi-bin/articles/200404300700121773y.html

well now we know the reason for yesterday's fall, and further proof, if any were needed, that the market always knows first!

Not good news, but hopefully the drop was yesterday, and it may be we have already had the major part of the fall? I certainly hope so, but certainly it will dip again today, as T traders close their positions.

============================================================

Pursuit Dynamics PLC
30 April 2004

Pursuit Dynamics plc ('Pursuit' or the 'Company')


On 4 March 2004 the Company announced that it had extended an exclusive
agreement with a major soft drink and confectionery manufacturer to 30 April
2004. Under the agreement, the Company had no obligation to licence the
technology to the manufacturer, except by mutual agreement. The exclusive
agreement expires today and no licence has been agreed between the Company and
the manufacturer. The Company received a request from the manufacturer to extend
the period of exclusivity in certain areas but declined to do so. The directors
expect talks to continue on a non-exclusive basis. Pursuit is now free to enter
commercial negotiations with other significant interested parties.



John Heathcote, CEO, commented: 'We believe that the commercial costs to us of
further extensions of this exclusivity period outweigh the benefits. As a
result of this development period we have advanced our PDX processing technology
to a stage where it has a number of applications in the soft drink and
confectionery industries. We have received numerous expressions of interest from
other manufacturers of both soft drinks and confectionery and, with the expiry
of the period of exclusivity, we are free to enter commercial discussions with
them.



Overall, we are delighted with the rapid rate of development of our business.
Pursuit Food Processing Ltd. was formed in February 2004 to accelerate the
commercialisation of our food process applications and we are currently in
discussions with a number of food and food equipment manufacturers in regard to
leasing or licensing our systems.



We are pleased to announce that we have opened our United States representative
office, in Darien, Connecticut, this week in order to take advantage of the
opportunities that we have identified in North America.



We have also formed Pursuit Fire Ltd. to advance the commercialisation of our
water mist technology and a number of discussions are underway with both fire
system OEMs and end users. Paul Grimwood, an internationally recognized expert
in fire suppression, will join us on a full-time basis in early May.



We are also in mature discussions with global companies in the dairy and paper
industries.'


For further information please contact:

John Heathcote CEO, Pursuit 01763 250592

Gary Pyle CFO, Pursuit 01763 250592

Matthew Robinson/
David Rae Durlacher Limited 020 7459 3600

Isabel Crossley St Brides Media & Finance 020 7242 4477


Notes to Editor:


Pursuit has developed its PDX technology, which utilizes steam as the sole
motive power in an innovative process device that at its simplest can be viewed
as a pump with no moving parts that cannot be blocked.


The PDX technology has many applications in both the industrial processing and
marine propulsion markets. Pursuit is currently focused on its steam powered
clear bore pumping system (the 'PDX system') which can be used in a wide range
of industries including: confectionery; nuclear; oil; personal healthcare; food;
paper and pulp; brewing; wastewater; defence; ballast water.


The Company has invested heavily in its technology and is now actively pursuing
the commercialization of its applications.


The PDX system replaces several devices in a process, consequently it offers a
number of significant advantages, such as simpler processes, lower running costs
and virtually no maintenance. Pursuit has already entered trails for its PDX
system in the waste water/sewage markets with Sonico of the UK. Pursuit is
pursuing a capital efficient licensing based model that will enable industry
leaders to exploit the PDX technology.


Pursuit is listed on the AIM Market London Stock Exchange in May 2001.


For further information, visit:
www.pursuitdynamics.com

This information is provided by RNS
The company news service from the London Stock Exchange

Already down 5p, (4%) so maybe the initial fall will be greater than I had considered, let's hope for a bounce later.

Now that the bad news is out, and there are now no known timings for any potential deals, any good news could be announced at any time I suppose.

Excitment about the contents of the latest Durlacher research note (published a week ago but only just leaking out to Joe Public) seems to be the cause of today's price rise. I haven't read it but I gather that D are sticking to their 4 target and suggesting it might be achieved by the end of this year!

durlacher buy note makes great reading,all still in place for a fantastic year!!!!

smithy / fujisnapper1,

Yes it would appear that Durlacher are very bullish, and this has no doubt, lead to the bounce from the recent low.

These notes are really for their clients, so not really intended for joe public IMHO, although once their clients are in, I suppose it's not a bad idea to let the report be read by a wider audience!

I will try and get a copy.

andy i have a copy, nothings changed just because they didnt sign with the confectionery company the welcome deal proves the effectiveness of the pdx equipment,as a shareholder we should be pleased JH walked away the last thing we want him to do is to undersell the product,especially when there are many big hitters knocking on your door,the price reaction created a buying opportunity if it wasnt for the welcome deal it would of gone sub 1 i believe the welcome deal was to show interested parties it works pay up or get to the back of the queue interesting yr ahead i wouldnt want to be out imho!!!!

fujisnapper,

Many thanks for taking the trouble to post that, and I agree it is positive, and I remain a holder, am considering adding a few more, and regretting not taking a few in the dip now.

Andy.

Hi guys, this one seems to be well followed on here but I have just lifted this post from The Motley Fool site re - to the pump. Could this be one of the reasons for recent weakness?................

As chatting about engineering is more interesting than wondering why my shares are down today I thought I'd add to the propellor debate by sticking an oar into the Pursuit Dynamics steam powered pump. Originally this device was intended to replace propellors but is now being promoted for many uses.

Although I've read quite a bit about it here and in other places (PDX website and a site referenced on the PDX board) nobody ever seems to talk about the problems with the device so I thought that I would.

As I see there are many problems with the PDX pump -

1. It's appallingly inefficient. To make steam really effective you have to expand it from a very high pressure to a very low one extracting all of the energy on the way. In this device the pressure is converted into an impulse jet which, as nero discovered, isn't an efficient engine. The steam then condenses which helps the flow by creating a vacuum. I think PDX claim 10% with water up to 20% with gravel. The higher efficiency with gravel is logical as it doesn't condense the steam as quickly as water. However these seem to be strangely round figures to me and probably ignore the boiler efficiency. Somebody who tried to work it out reckoned it would be more like 3%. Either way with traditional pumps in the 90%+ region it's going to be a lot more expensive to run.

2. It uses steam. Steam comes from boilers and boilers can be dangerous. They have to be regularly checked and certificated which is inconvenient and costly.

3. The pump exhibits no control over the flow. This I'd rate as half a problem as some other successful pump designs don't either. However in a great many industrial processes, including food production, where ingredients are mixed the pumps not only pump they also meter the flow to get the correct mix. So PDX ruled out for these applications.

4. It injects water into whatever is being pumped. This rules out most chemical applications. Even in situations where it can be tolerated, i.e. food, this means that the source of the water, the boiler, will have to be hygenically cleaned at regular intervals. Consequently general purpose boilers couldn't be used as the supply of steam.

5. It can raise the temperature of the pumped medium above boiling point. The local effect of the impact of the steam will be to heat some parts to high temperatures which of course will 'cook' them. A drawback in the food industry unless you want it to happen.

6. It macerates (mixes/chops up) the pumped medium. May be advantageous but not always.


The most likely field for success is where the efficiency is not an issue because it's desired to heat the medium anyway, where maceration is desirable, where the addition of water is tolerable, where steam is used anyway and control of the flow is unimportant. All of this points to the food industry but not so much as a pump but as a combined macerator/cooker/pump with the accent on the first two as the ingredients will have to pumped by metering pumps anyway. However this is a much smaller field than people think and there simply isn't big business in it.

I think the PDX pump may find a niche in the market but no more than that.

Tawny


cheers GF.