30 Jun 2015 18:20
Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support Services
30 June 2015
Strat Aero plc ("Strat Aero", the "Company" or the "Group")
Result of AGM
Strat Aero plc, an international aerospace services company focused on the provision of training solutions, management systems and consultancy services to the global aviation market, held its Annual General Meeting earlier today and all resolutions were duly passed.
- ENDS -
Enquiries:
Strat Aero plc | |
Russell Peck (Chief Executive) | Tel: +1 832 912 4273 |
Graham Peck (Chairman) | Tel: +44 (0) 1293 804741 |
SP Angel Corporate Finance LLP | Tel: +44 (0) 20 3470 0470 |
Nominated Adviser and Joint Broker | |
Stuart Gledhill Katy Birkin | |
Beaufort Securities Limited | Tel: +44 (0) 20 7382 8300 |
Joint Broker Jon Levinson | |
Elliot Hance | |
St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
Frank Buhagiar |
Notes
Strat Aero plc is a multi-divisional international aerospace services company, focussed primarily on the provision of Unmanned Aerial System ('UAS') training solutions, airline management systems and consultancy services to the international aviation market. The Company has three existing divisions: UAS Pilot Training and Services which operates from the fully functional and multi-faceted UAS Training Centre in Roswell, New Mexico; Aviation Software, Products and Services which includes the Company's proprietary advanced aerospace management system, a cloud-based enterprise wide management solution for the aerospace sector and potentially, other sectors; and Aviation Management and Consultancy Services which has multiple contracts in place including project management of the establishment of a new low cost airline in the Middle East.
The UAV division is looking to capitalise on opportunities resulting from the forecasted strong growth in the airline industry and in particular, the predicted exponential growth in the emerging UAV industry over the coming decade. Civilian, law enforcement 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. Strat Aero already has major contracts in place with international aviation companies, government bodies and universities including and importantly, an agreement with one of the largest US defence contractors to train military pilots to fly fixed wing UAVs at its Roswell centre.