Strat Aero PLC Board Changes (7282B)
January 12 2018 - 4:30AM
UK Regulatory
TIDMAERO
RNS Number : 7282B
Strat Aero PLC
12 January 2018
Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support
Services
Strat Aero plc ("Strat Aero", the "Company" or the "Group")
12 January 2018
Board Changes
Strat Aero plc, an international aerospace company focused on
the rapidly emerging Unmanned Aerial Vehicle ('UAV') sector, is
pleased to announce the following board changes with immediate
effect.
Dr Nigel Burton has been appointed as a Non- Executive Director
and Chairman of the audit committee. Nigel holds 142,857,143
ordinary shares in the Company which, following the admission of
the recently announced Warrant Shares due to be admitted to trading
on 16 January 2018, represents 2.7% of the enlarged share capital
of the Company.
Dr Nigel Burton has over 25 years' experience in operational and
financial management, debt and equity financing, acquisition and
integration of businesses, disposals, IPOs and trade sales.
Following over 14 years as an investment banker at leading City
institutions including UBS Warburg and Deutsche Bank, including as
the managing director responsible for the energy and utilities
industries, Nigel has spent 15 years as Chief Financial Officer of
a number of private and public companies, including Navig8 Product
Tankers Inc, PetroSaudi Oil Services Limited, Advanced Power AG,
and Granby Oil and Gas plc. Nigel is currently Chief Executive
Officer of Nu-Oil and Gas plc and a Non-Executive Director of
Management Resource Solutions plc, both of which are listed on
AIM.
Nigel is a Chartered Electrical Engineer (FIET) and a Past
President of the IET. He has a B.Sc. (First Class Hons) in
Electrical and Electronic Engineering and a Ph.D in Acoustic
Imaging from University College London.
In addition, Mr Gerard Dempsey, Chief Financial Officer, has
resigned from the Company and the Board would like to thank him for
his contribution. Laura Grice, the Company's Financial Controller
will continue in that role and will report to the CEO. The Company
will review the need for appointing a replacement Finance Director
as Strat Aero's business grows and develops.
Iain McLure, CEO of Strat Aero plc, commented, "We welcome Nigel
to the Company, and his combination of experience and
qualifications will be an asset to the Company going forward. The
Strat Aero team continues to work with renewed vigour to deliver
our strategic objectives of expanding our core Survey &
Inspection and Education & Training divisions in 2018, in
tandem with exploring complementary investment opportunities."
Nigel John Burton aged 59, currently holds or has held the
following directorships and partnerships in the last five
years:
Current directorships/partnerships Past directorships/partnerships
Wasdale Head Limited Procurement Services
(Delaware) Inc.
Wasdale Head Inn Limited New Day Energy Indonesia
Highbec Limited Limited
SenseToys Limited
NU-Oil and Gas plc
Management Resource Solutions
plc
ASD Visual Aids Limited
Dr. Nigel Burton was a director of Pease Limited within 12
months of the company appointing a liquidator in June 1998. The
company was subsequently liquidated.
There is no other information that is required to be disclosed
pursuant to Schedule 2 paragraph (g) or Rule 17 of the AIM Rules
for Companies.
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
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
END
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