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PSource Struct Debt (PSD)

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Friday 17 June, 2011

PSource Struct Debt

Directorate Change

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:




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


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

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