TIDMPSD
RNS Number : 6305I
PSource Structured Debt Limited
17 June 2011
17 June 2011
PSource Structured Debt Limited ("the Company")
Anthony Tiarks Joins PetroAlgae as CEO
PSource Structured Debt Limited (LSE: PSD, the "Company"), the
London listed fund investing in senior secured debt and equity
warrants predominantly issued by US based small-cap companies,
announces that PetroAlgae Inc, its largest holding, has made an
announcement regarding the appointment of Tony Tiarks as CEO. The
text of the PetroAlgae announcement is set out below:
ANTHONY TIARKS JOINS PETROALGAE AS CEO
MELBOURNE, FL - June 16, 2011-PetroAlgae Inc. (OTCPK: PALG), a
leading renewable
energy company that licenses its commercial micro-crop
technology globally, today announced
that Anthony Tiarks, a 30-year veteran of the investment and
aerospace industries, has joined
PetroAlgae as Chief Executive Officer. Dr. John Scott, formerly
Chairman and CEO will
continue as Chairman.
"I have known Tony for some time and am very happy I was able to
convince him to come
aboard," said Dr. Scott. "This is the perfect time for someone
with Tony's financial expertise,
strategic vision, and international experience to assume the CEO
role. We have been planning
this move for some time, as it will allow me to focus more on
the technology and innovation side
of the business. I know we will work extremely well
together."
Prior to joining PetroAlgae, Mr. Tiarks was President & CEO
of Liberty Aerospace, Inc., which
he established in the United States in 2000 with the purpose of
developing, certifying and
delivering a new-generation, advanced, entry level aircraft
called the XL2. Prior to starting
Liberty Aerospace, Mr. Tiarks was the Managing Director in
London of Donaldson, Lufkin &
Jenrette, a US investment bank; Chairman of Tide Brokers
Limited, a wholesale money broker;
and Managing Director of Tide (U.K.) Limited, an international
foreign exchange fund
management group. Mr. Tiarks has a B.S. in Systems and
Management from City University,
London, United Kingdom.
"When John Scott first explained PetroAlgae and its technology
for developing commercial
biomass at scale to me, I knew the company had something
special," said Mr. Tiarks. "We also
agreed that my experience in China and other international
markets, as well as my work in the
investment and aviation industries, would be a big plus for the
company at this stage of its
development. I am very excited about the prospects, and I look
forward to working with John
and the entire team at PetroAlgae"
About PetroAlgae
PetroAlgae Inc. (OTCPK: PALG), based in Melbourne, Florida, is a
renewable energy company
that licenses and deploys the leading biomass production
platform to address existing and
growing unmet needs in the global energy and agriculture
markets. The company's technology
enables the growing and harvesting of a wide variety of
non-algae micro-crops suitable to local
climates in open-pond bioreactors. For more information about
PetroAlgae, please visit our
website at http://www.petroalgae.com
For further information, please contact:
PSource Capital Limited
Soondra Appavoo
+44 20 7925 3156
This information is provided by RNS
The company news service from the London Stock Exchange
END
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