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.

I think you'll find that options cant be exercised until the price has been over 1 for at least another 2 to 3 weeks. From memory, the terms were something like six trading weeks.

As for whether those with options intend to exercise - I have no idea. The feedback from the guys on the shop floor at the recent visit was that they were looking for 5 to 10. They may not be market experts - but they sure as hell are PDX experts.

Gausie

Good morning Gausie. For clarification: this from the 2002 PDX Annual Report:
if the mid-market closing price of an Ordinary share exceeds 1.00 on each dealing day in any period of 30 consecutive days, each option shall thereafter be exercisable in full. NB any period of 30 consecutive days, not 30 trading days. Hence a calendar month - i.e. this week.
Corrections welcome, if I've got this wrong.
Le Petit Fou

More on the share options at the faq site.

LPF,

Nice to see a nuetral day after the recent turmoil!

How are these ever gonna reach 135 pounds by xmas if people like you are happy with days when they dont got up!!!;-)

MMs are short, theyere not having mine (new platform shoes) :-))))))

Anyone know why the shares are moving again, any news on contacts being signed?

Adieh,

This happens every week or so, and seems to be rumour based, regarding the first deal being signed.

Andy,

Thanks for that, you got any views on what price we might be looking at in the future...

Adieh,

Not really, but look at PDX go !!!!!

Now up 11.5p today, and the popular consensus seems to be 2 by Xmas, but that really is picking figures out of the air, IMHO.

Firstly they need to officially announce thgeir first deal, then we need to see how it's structured before we can begin to calculate the value of PDX, and their technology.

I remain a holder, and may top up.

Approaching all time high again!

Now up 11.2% today, must be some news coming I think!

Andy,

Yeah keeping in there, bought at .49p so looking good at present.... Fingers crossed for more.

Hot off the press. This news just goes to show that PDX's pump technology is being taken seriously.

Pursuit Dynamics PLC
11 November 2003


PURSUIT DYNAMICS PLC ('PURSUIT' OR 'THE COMPANY')

PURSUIT DYNAMICS SIGNS ADDITIONAL TRIALS & EXCLUSIVITY AGREEMENT WITH
CONFECTIONERY MANUFACTURER


Further to the Company's announcement dated 1 September 2003 and following
completion of initial trials of its innovative PDX Technology in confectionery
and soft drinks applications with a leading confectionery manufacturer, Pursuit
is pleased to announce that it has now entered into an agreement that
incorporates further development trials with the same manufacturer.

The trials are fully funded by the manufacturer and are scheduled to be
completed by the end of 2003. In addition to funding the trials, the
manufacturer will pay Pursuit 15,000 per month to maintain exclusivity for the
trialling of the PDX Technology in confectionery and soft drinks applications
until, at the latest, March 4 2004.

John Heathcote, Chief Executive Officer of Pursuit said: 'This is more good news
for Pursuit. We are successfully marketing our PDX Fluids Handling System
across a broad range of processing industries. We are developing strong
relationships with dominant companies in our targeted sectors with a view to
bringing our technology into commercial use in a structured and timely fashion.'



* * ENDS * *

Why the drop in price, isnt this good news?

No, AdieH, it's not really good news. This trial (started at the beginning of September) was supposed to result in a deal. Not another trial. The RNS is an announcement of no jam today, maybe jam tomorrow.

I remain optimistic for PDX, but see nothing to celebrate in this RNS, the second trial without a deal. It would have been nice to learn more about why the trial has been extended, but I imagine that if the reasons for that were positive for shareholders, we *would* have heard about them.

Le Petit Fou

Le Petit Fou,

The confectionery manufacturer would hardly pay 15k per month for the exclusivity of the trialing for PDX's technology - so far 45k possibly increasing to 90k - on top of their own in-house trial & development costs, if they weren't fairly certain that the pumps are commercial use. The deal is in the making. My guess is the manufacturer is looking to maximise the use & obtain a licence that covers the many areas of their manufacturing processes.

Does anyone else investing think the same?

Le Petit Fou,

Good point, no point in investing if it didnt think there was a future in it, I remain hopefully and will be keeping hold of my small amount of shares...

Legins / LPF,

Yes I go along with the sentiments expressed by legins, that it can't be considered a failure, otherwise the potential customer wouldn't be paying for extended trials, and it clearly says they are paying until "AT LEAST March 2004"

However, as LPF rightly says, it isn't what we expected, or hoped for, and so from that point of view it is somewhat disappointing.

We need a deal from another source now to restore confidence I feel.

True Le Petit Fou. The question is why is the trial being extended.

washlander,

One reason would have to be that other competitors that are currently locked out would be in the game if they terminate the trial.

On the otherhand, if the trial had been a failure, that wouldn't be a problem!

I still see this as reasonably positive news, but our expectations were higher, hence the disappointment.

I cannot see how this RNS can be described as "bad news" at all.

The trial will have been very sucessful, more than the laymen might think. Now this has been proven, hence the reason the confectionery manufacturer is prepared to invest 45 - 90K. So, although it may be a mild dissapointment that the pumps are not immediately licenced the manufacturer needed a reasonable time to verify test data. The time they now need is their own R&D to launch their own product using this technology, another reasonable time scale.

Also have you guys & gals looked at PDX's web site recently. What an improvement in the marketing efforts. More moves in the right direction. Excellent management.