Perceptronics Signs 2 Simulator Agreements

Perceptronics, a Woodland Hills maker of simulators used by troops who operate tanks, armored vehicles and helicopters, has signed agreements with two European companies to develop combat training simulators.

One contract is with Wegmann & Co., a West German maker of tanks and other military equipment. Perceptronics will receive $800,000 immediately to design and develop a simulator for the company.

The second agreement is with Sphere, a software company in Berkeley that is a subsidiary of Maxwell Communications Corp. of England.

Separately, an amendment failed to pass at Perceptronics’ annual shareholder meeting recently that would have eliminated “cumulative voting” for its directors. The proposal received a majority of the votes cast at the meeting, but needed a majority of the company’s 3.5 million total shares outstanding to pass.

Cumulative voting allows shareholders to bundle together each separate vote for a directors’ seat and use those votes to elect one or more persons. Cumulative voting often allows minority shareholders to more easily elect a director representing their interests.