Strat Aero PLC Commercial Agreement for UAV Training Centre (0307X)
November 21 2017 - 2:00AM
UK Regulatory
TIDMAERO
RNS Number : 0307X
Strat Aero PLC
21 November 2017
Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support
Services
21 November 2017
Strat Aero plc ("Strat Aero", the "Company" or the "Group")
Significant Commercial Agreement signed with Alnahdi Aviation
Technology for UAV Training Centre
Strat Aero plc, an international aerospace company focused on
the rapidly emerging Unmanned Aerial Vehicle ('UAV') sector, has
signed a Commercial Agreement ('Agreement') with Alnahdi Aviation
Technology ('AAT'), experts in aviation technology in the Kingdom
of Saudi Arabia ('KSA') to collaborate on establishing a UAV
Training Centre in the KSA. It is envisaged the Centre will provide
comprehensive training for military and civilian UAS pilots and
sensor operators ('SO'), and will be based on Strat Aero's modular
UAV training course and its proprietary Digital Data Management
('DDM') system, which will be used to deliver course data and track
student progress.
The Agreement is in line with the Company's strategy to focus on
its key strengths and experience, specifically its Training
Division, which is headed by Mark Wharry one of the leading UAV
Instructors in the world, and Survey and Inspection via its
subsidiary Geocurve.
Under the terms of the Agreement, Strat Aero and AAT will
develop a detailed joint business model and plan. This will be
designed to meet an initial predicted demand of 50 Crew sets per
year (total 100 students per annum), which is expected to increase
as the customer base broadens. The business plan will include a per
student fee which once agreed with the initial client, will be
split equitably between Strat Aero and AAT.
AAT, the fully owned subsidiary of Alnahdi United, has been
serving both the governmental and private sectors in Saudi Arabia
for over 60 years and has more than 80 years of cumulative group
experience. It is a professional airport operating and servicing
company, providing cost-effective services and maintenance
solutions to commercial airlines, private operators and military
stations throughout the region.
Iain McLure, CEO of Strat Aero plc, commented, "Saudi Arabia and
the entire Middle East region is an area which has significant
value potential for Strat Aero, and this Agreement with Alnahdi
Aviation Technology presents us with a highly reputable partner
with which to capitalise on this opportunity. The skill set
required to deliver the proposed training programme is extremely
specialised and very rare. Thanks to the unrivalled experience of
our senior team, Strat Aero has these skills in-house and is
therefore uniquely placed to develop and deliver a complex and high
spec training programme. I look forward to providing further
information regarding this partnership as it develops and
formalises."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
- 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
Caroline Rowe
Beaufort Securities Limited Tel: +44 (0) 20 7382 8300
Joint Broker
Elliot Hance
Cornhill Capital Ltd Tel: +44 (0) 20 3700 2500
Joint Broker
Nick Bealer
St Brides Partners Ltd Tel: +44 (0) 20 7236 1177
Financial PR
Susie Geliher
Notes
Strat Aero plc is a multi-divisional international aerospace
services company, focused 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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