Repurchase of Shares and Total Voting Rights

 

TIDMPTX TIDMPTXU 
 
RNS Number : 8569J 
Protonex Technology Corporation 
08 April 2010 
 

 
 
 
 
 
FOR IMMEDIATE RELEASE 
 
8 April 2010 
 
 
                  REPURCHASE OF SHARES and TOTAL VOTING RIGHTS 
 
DATELINE: SOUTHBOROUGH, MA; Protonex Technology Corporation (LSE: AIM: PTX and 
PTXU) ("the Company"), a leading provider of advanced fuel cell power systems 
for portable, remote and mobile applications, today announces that it has 
repurchased, and subsequently retired, 510,298 common shares at a price of 
$0.005 per share.  These shares were originally issued to the former owners of 
Mesoscopic Devices, LLC ("Mesoscopic") in conjunction with the Company's 
acquisition of Mesoscopic in April 2007.  The repurchase was made pursuant to 
the terms of certain Stock Restriction Agreements entered into between the 
Company and the former owners at the time of the acquisition.  The issued share 
capital as at 5 April 2010, following the repurchase consists of 64,489,488 
common shares with a par value of $0.005 per share, with voting rights (one vote 
per common share). 
 
The Company does not hold any shares in Treasury. 
 
The above figure of 64,489,488 common shares may be used by shareholders as the 
denominator for the calculations by which they will determine if they are 
required to notify their interest in, or a change to their interest in, the 
Company. 
 
 
 
 
                                    - ENDS - 
 
Enquiries 
Protonex Technology Corporation                                           Tel: 
[phone] 
Scott Pearson, Chief Executive Officer 
John Connolly, Chief Financial Officer 
 
Redleaf Communications Limited                                           Tel: 
[phone] 
Press and Investor Relations 
  [e-mail] 
Paul Dulieu 
Michael Ward 
 
Piper Jaffray Ltd.  Tel: [phone] 
Nominated Adviser 
Jens Rosebrock 
Rupert Winckler 
 
 
Notes to Editors 
 
About Protonex Technology Corporation 
www.protonex.com 
Protonex Technology Corporation develops and manufactures compact, lightweight 
and high- performance fuel cell systems for portable power applications in the 
100 to 1000-watt range. The Company's fuel cell systems are designed to meet the 
needs of military, commercial and consumer customers for off-grid applications 
underserved by existing technologies by providing customizable, stand-alone 
portable power solutions and systems that may be hybridized with existing power 
technologies. The Company is headquartered in Southborough, Massachusetts. 
 
This announcement includes statements which are, or may be deemed to be, 
"forward-looking statements". All statements other than statements of historical 
facts included in this announcement, including, without limitation, those 
regarding Protonex' financial position, business strategy, plans and objectives 
of management for future operations (including development plans and objectives 
relating to Protonex' products and services) are forward-looking statements. By 
their nature, such forward-looking statements involve known and unknown risks, 
uncertainties and other important factors that could cause the actual results, 
performance or achievements of Protonex to be materially different from future 
results, performance or achievements expressed or implied by such 
forward-looking statements. These factors include but are not limited to those 
described in the Admission Document issued in connection with the Company's 
admission to AIM. 
 
Forward-looking statements may and often do differ materially from actual 
results.  Any forward-looking statements in this announcement speak only as at 
the date of this announcement and are subject to risks relating to future events 
and other risks, uncertainties and assumptions relation to Protonex' operations, 
results of operations, growth strategy and liquidity. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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