19 Jan 2018 09:00
Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support Services
19 January 2018
Strat Aero plc ("Strat Aero", the "Company" or the "Group")
Exercise of Warrants and Issue of Equity
Strat Aero plc, an international aerospace company focused on the rapidly emerging Unmanned Aerial Vehicle ('UAV') sector, has issued 35,714,286 New Ordinary Shares of 0.01p each ("Ordinary Shares") as a result of an exercise of 35,714,286 warrants exercisable at 0.035p each (the "Warrant Shares").
Application will be made for the Warrant Shares, which will rank pari passu with the existing Ordinary Shares in the Company, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence at 8:00 a.m. on 24 January 2018.
Following the issue of the Warrant Shares, the issued share capital of the Company will consist of 5,283,527,710 Ordinary Shares. No shares were held in treasury at the date of this announcement. The total current voting rights in the Company are therefore 5,283,527,710.
**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 | 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.