Page Redirect failes if using field token with spaces in it

I have come across an issue using Rules in whereby the "Page redirect" action fails to execute if a supplied token (field value) has a space in it.

For this particular Rule, the Page redirect works perfectly fine if the field value has no spaces in it. Trust me, I've double and triple tested to verify that!

Here is what my Page URL field looks like. I simply take a few tokens and passing them as URL parameters to a page called submit.php

(link to image)

The troublesome token is the 'Company Name' field. Often a company name has spaces in it.
Interestingly the [node:field-email-address] converts to URL safe just fine (ie: myname%40gmail.com).

So I assume the Rule should be converting the field to URL friendly value; put %20 instead of a raw space.