Aurrigo looks to new international hub to generate royalty streams

(Alliance News) - Aurrigo International PLC on Monday announced the launch of a new licensing and hub programme and the appointment of a joint broker.

In response, shares in the Coventry, England-based transport technology provider rose 7.4% to 72.50 pence each in London on Monday.

Aurrigo said the new international licensing and hub programme is designed to support the group's "next phase of growth in order to accelerate its global commercialisation strategy."

The plans seek to enable international scaling, but require neither significant new capital nor the dilution of existing shareholders, Aurrigo explained.

It should provide recurring revenue royalty streams and strengthen cash generation to support future development and create a framework for ongoing discussions with potential strategic partners, the firm added.

"The board believes that the combination of regional hubs, localised manufacturing, and targeted investment will provide a scalable framework to capture the rapidly growing demand for automation solutions across the aviation industry," said Chief Executive David Keene.

Five principal hubs are envisaged in the UK, North America, South East Asia, Middle East and Europe.

In addition, Aurrigo announced that VSA Capital Ltd have been appointed as joint broker with immediate effect. VSA Capital will act alongside the existing broker, Canaccord Genuity Ltd.

By Jeremy Cutler, Alliance News reporter

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