Strat Aero PLC Notice of GM (3502Q)
29 November 2016 - 4:02AM
UK Regulatory
TIDMAERO
RNS Number : 3502Q
Strat Aero PLC
28 November 2016
Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support
Services
28 November 2016
Strat Aero plc ("Strat Aero", the "Company" or the "Group")
Notice of General Meeting
Strat Aero plc, an international aerospace company focused on
the rapidly emerging Unmanned Aerial Vehicle ("UAV") sector,
announces that a General Meeting ("GM") will be held at 11:00 a.m.
on 22 December 2016 at Kerman & Co., 200 Strand, London WC2R
1DJ (the "GM").
A notice convening the GM will be sent to shareholders today and
will be available to download from the Company's website at
www.strat-aero.com.
As noted in the Company's announcement of 24 November 2016, the
Board is seeking to increase available headroom to issue ordinary
shares in order to provide flexibility with regards to both
repaying the short term loan notified on 24 November and to provide
for future working capital needs.
The Company has previously noted that current available cash
reserves will extend to mid Q1 2017. In the event that shareholders
do not approve the Resolutions, the Company will be required to
seek financing from sources other than the issue of new equity,
which the Board believes may be difficult to secure and, if
secured, is likely to be expensive for the Company. The increase of
additional headroom is therefore likely to be in the best interests
of shareholders and it is important that shareholders vote in
favour of the Resolutions in order to provide flexibility in
seeking new finance.
- ENDS -
For further information please visit www.strat-aero.com or
contact:
Strat Aero plc Tel: +44 (0) 1293 804741
Graham Peck (Chairman)
SP Angel Corporate Finance LLP Tel: +44 (0) 20 3470
0470
Nominated Adviser and Joint
Broker
Stuart Gledhill
Jeff Keating
Beaufort Securities Limited Tel: +44 (0) 20 7382
8300
Joint Broker
Elliot Hance
Cornhill Capital Ltd
Joint Broker
Colin Rowbury Tel: +44 (0) 20 7710
9610
St Brides Partners Ltd Tel: +44 (0) 20 7236
1177
Financial PR
Frank Buhagiar
Susie Geliher
Notes
Strat Aero plc is a multi-divisional international aerospace
services company, focussed primarily on the provision of complete
client solutions in the Unmanned Aerial System ('UAS' market),
which is predicted to show exponential growth over the coming
decade. Commercial and military applications in UASs are expected
to be a dynamic growth sector in the aerospace industry over the
next 10 years with the UAS market forecast to grow to more than
US$82.1 billion between 2015 and 2025 (AUVSI Economic Report 2013)
and the global airborne Intelligence, Surveillance and
Reconnaissance ('ISR') market estimated to grow to US$19.23 billion
by 2023.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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