23 Apr 2018 07:00
Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support Services
23 April 2018
Strat Aero plc ("Strat Aero," the "Company" or the "Group")
Exercise of Warrants by Directors and Total Voting Rights
Trevor Brown, Executive Director of the Company, exercised 485,714,286 warrants at an exercise price of 0.035p each on 22 April 2018. The consideration received by the Company will be £170,000.
Nigel Burton, a Non-Executive Director of the Company, exercised 71,428,571 warrants at an exercise price of 0.035p each on 22 April 2018. The consideration received by the Company will be £25,000.
The 557,142,857 new Ordinary Shares ("Shares") arising from the exercise of these warrants have now been issued, and application has been made for them to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence at 8:00a.m. on 26 April 2018.
Following these transactions, Trevor Brown and Nigel Burton own 1,457,142,857 and 214,285,714 Shares respectively, representing 24.47% and 3.60% of the Shares respectively.
Following these transactions, the Company has 5,954,956,281 ordinary shares of 0.01p each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 5,954,956,281.
The above figure of 5,954,956,281 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
- ENDS -
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
Trevor Brown (Executive Director) +41 7941 55384
Nigel Burton (Non-Executive Director) +44 7785 234447
SP Angel Corporate Finance LLP +44 20 3470 0470
Stuart Gledhill
Jeff Keating
Caroline Rowe
Peterhouse Corporate Finance +44 20 7469 0930
Lucy Williams
Fungai Ndoro
Notes
Strat Aero plc is focused on the continued development of the Company's 'Survey & Inspection' business, in addition to implementing an enhanced growth strategy via the appraisal of complementary acquisition or investment opportunities, and recently acquired a 37% stake in Gyrometric Systems. This is in line with the Company's stated objective to achieve improved financial performance in the near term.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name: | Trevor Brown | ||||
2. | Reason for the notification | |||||
a) | Position/status: | 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 instrument, type of instrument: Identification code: | Ordinary shares of 0.01 pence each GB00BQQPLG38 | ||||
b) | Nature of the transaction: | Issue of warrants | ||||
c) | Price(s) and volume(s): |
| ||||
d) | Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above
| ||||
e) | Date of the transaction: | 22 April 2018 | ||||
f) | Place of the transaction: | Outside a trading venue | ||||
Details of the person discharging managerial responsibilities/person closely associated | |||||
Name: | Nigel Burton | ||||
Reason for the notification | |||||
Position/status: | Non-Executive Director | ||||
Initial notification/Amendment: | Initial notification | ||||
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
Name: | Strat Aero plc | ||||
LEI: | 213800VR2P5DDQHYZO48 | ||||
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 | |||||
Description of the financial instrument, type of instrument: Identification code: | Ordinary shares of 0.01 pence each GB00BQQPLG38 | ||||
Nature of the transaction: | Issue of warrants | ||||
Price(s) and volume(s): |
| ||||
Aggregated information: Aggregated volume: Price: | Single transaction as in 4 c) above
| ||||
Date of the transaction: | 22 April 2018 | ||||
Place of the transaction: | Outside a trading venue | ||||