Strat Aero PLC Issue of Equity to Directors (4783Y)
December 05 2017 - 12:11PM
UK Regulatory
TIDMAERO
RNS Number : 4783Y
Strat Aero PLC
05 December 2017
Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support
Services
5 December 2017
Strat Aero plc ("Strat Aero", the "Company" or the "Group")
Issue of Equity to Directors
Strat Aero plc, an international aerospace company focused on
the rapidly emerging Unmanned Aerial Vehicle ('UAV') sector,
announces, further to the placing announcement released at 7.00
a.m. this morning ("the Placing"), certain Directors of the Company
have agreed to apply certain outstanding compensation and expenses
accrued during 2017 for the subscription of equity on the same
terms as the Placing.
New Shares
The Board has agreed that a total of 42,857,143 ordinary shares
of 0.01 pence each in the capital of the Company (the "New Shares")
will be issued at a price of 0.035p per New Share (being the
recently announced "Placing Price") to Iain McLure, the Company's
Chief Executive Officer. In addition, the Board has agreed that a
total of 42,857,143 New Shares will be issued at the Placing Price
to Paul Ryan, Non-Executive Director.
For the avoidance of doubt these New Shares are in addition to
the recently announced placing for GBP590,000 (before costs).
Following the issue of the New Shares, Iain McLure and Paul Ryan
will have a beneficial interest in 142,857,143 ordinary shares of
0.01 pence each (representing 3.75% of the issued share capital and
total voting rights of the Company) and in 153,257,143 ordinary
shares of 0.01 pence each (representing 4.02% of the issued share
capital and total voting rights of the Company) respectively.
Director Dealings and Related Party Transaction
Iain McLure and Paul Ryan are considered to be "related parties"
as defined under the AIM Rules and accordingly, the issue of New
Shares to them constitutes a related party transaction for the
purposes of Rule 13 of the AIM Rules.
The directors independent of the transaction, being Graham Peck
and Gerrard Dempsey, having consulted with the Company's nominated
adviser, SP Angel Corporate Finance LLP, consider that the terms of
the transaction are fair and reasonable insofar as the Company's
shareholders are concerned.
Details of the New Shares
Application will be made for the New Shares, which will rank
pari passu with the existing shares, to be admitted to trading on
AIM ("Admission"). It is expected that Admission will become
effective and dealings will commence in the New Shares on or around
11 December 2017.
Total Voting Rights
Following the issue of the New Shares, the issued share capital
of the Company will consist of 3,809,903,314 Shares. No Shares were
held in treasury at the date of this announcement. The total
current voting rights in the Company are therefore
3,809,903,314.
The above total current voting rights number is the figure which
may be used by shareholders as the denominator for the calculation
by which they will determine if they are required to notify their
interest in, or a change to their interest in the Company.
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.
-S -
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
Peterhouse Corporate Finance Tel: +44 (0) 20 7469
0930
Lucy Williams
Elliot Hance
St Brides Partners Ltd Tel: +44 (0) 20 7236
1177
Financial PR
Susie Geliher
Frank Buhagiar
1. Details of the person discharging managerial
responsibilities/person closely associated
----- ---------------------------------------------------------------------------------------------
a) Name: Iain McLure
----- -------------------------------------------------- -----------------------------------------
2. Reason for the notification
----- ---------------------------------------------------------------------------------------------
a) Position/status: Chief Executive
Officer
----- -------------------------------------------------- -----------------------------------------
b) Initial notification/Amendment: Initial notification
----- -------------------------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----- ---------------------------------------------------------------------------------------------
a) Name: Strat Aero plc
----- -------------------------------------------------- -----------------------------------------
b) LEI: 213800VR2P5DDQHYZO48
----- -------------------------------------------------- -----------------------------------------
4. Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
----- ---------------------------------------------------------------------------------------------
a) Description of the financial Ordinary Shares
instrument, type of instrument: of 0.01 pence each
Identification code: GB00BQQPLG38
----- -------------------------------------------------- -----------------------------------------
b) Nature of the transaction: Issue of shares
in lieu of salary
----- -------------------------------------------------- -----------------------------------------
c) Price(s) and volume(s): Issue of shares Price(s) Volume(s)
---------- -----------
0.035
pence 42,857,143
---------- -----------
----- -------------------------------------------------- -----------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above
Price: Issue of shares Price(s) Volume(s)
---------- -----------
0.035
pence 42,857,143
----- -------------------------------------------------- -----------------------------------------
e) Date of the transaction: 5 December 2017
16:00 GMT
----- -------------------------------------------------- -----------------------------------------
f) Place of the transaction: Outside a trading
venue
----- -------------------------------------------------- -----------------------------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
--- -----------------------------------------------------------------------------
a) Name: Paul Ryan
--- --------------------------------- ------------------------------------------
2. Reason for the notification
--- -----------------------------------------------------------------------------
a) Position/status: Non-Executive Director
--- --------------------------------- ------------------------------------------
b) Initial notification/Amendment: Initial notification
--- --------------------------------- ------------------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------
a) Name: Strat Aero plc
--- --------------------------------- ------------------------------------------
b) LEI: 213800VR2P5DDQHYZO48
--- --------------------------------- ------------------------------------------
4. Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- -----------------------------------------------------------------------------
a) Description of the financial Ordinary Shares
instrument, type of instrument: of 0.01 pence each
Identification code: GB00BQQPLG38
--- --------------------------------- ------------------------------------------
b) Nature of the transaction: Issue of shares
in lieu of salary
--- --------------------------------- ------------------------------------------
c) Price(s) and volume(s): Issue of shares Price(s) Volume(s)
------------- -----------
0.035 pence 42,857,143
------------- -----------
--- --------------------------------- ------------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above
Price: Issue of shares Price(s) Volume(s)
------------- -----------
0.035 pence 42,857,143
------------- -----------
--- --------------------------------- ------------------------------------------
e) Date of the transaction: 5 December 2017
16:00 GMT
--- --------------------------------- ------------------------------------------
f) Place of the transaction: Outside a trading
venue
--- --------------------------------- ------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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