Strat Aero PLC Issue of Equity (9980A)

TIDMAERO

RNS Number : 9980A

Strat Aero PLC

04 January 2018

Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support Services

4 January 2018

Strat Aero plc ("Strat Aero", the "Company" or the "Group")

Issue of Equity

Strat Aero plc, an international aerospace company focused on the rapidly emerging Unmanned Aerial Vehicle ('UAV') sector, announces, further to recent announcements in relation to the successful placing and open offer and conversion of debt, the Company has agreed that further certain fees payable by the Company to an adviser will be applied for the subscription for 135,714,286 new ordinary shares at the recent Placing Price of 0.035p per share ("New Shares").

Accordingly, a total of 135,714,286 Ordinary Shares have been allotted and it is expected that Admission and commencement of dealings in such will commence at 8.00 a.m. on 10 January 2018.

Following the issue and Admission of the New Shares and following the Admission of the previously announced Open Offer Shares due to be admitted to trading on 5 January 2018, the issued share capital of the Company will consist of 5,162,099,138 Ordinary Shares. The Company holds no Ordinary Shares in treasury, therefore the total number of voting rights in the Company is 5,162,099,138 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Iain McLure, CEO of Strat Aero plc, commented, "We are pleased that our broker Peterhouse has shown its confidence in our future plans to take equity in lieu of fees. The capital injection from our recently announced placing and open offer, strengthens our balance sheet and will enable Strat Aero to execute its stated strategy, namely to expand our revenue generative divisions, Survey & Inspection and Training & Education, and to provide us with the ability to actively advance the evaluation of complementary businesses and assets."

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.

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 
  Fungai Ndoro 
-----------------------------------  -------------------------- 
 St Brides Partners Ltd               Tel: +44 (0) 20 7236 1177 
-----------------------------------  -------------------------- 
 Financial PR 
  Susie Geliher 
  Frank Buhagiar 
-----------------------------------  --------------------------

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

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