Share Name Share Symbol Market Type Share ISIN Share Description
Strat Aero LSE:AERO London Ordinary Share GB00BQQPLG38 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.005p +7.69% 0.07p 0.065p 0.075p 0.07p 0.06p 0.065p 76,314,552 14:08:56
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Aerospace & Defence 0.7 -2.9 -1.1 - 3.67

Strat Aero PLC Board Changes

12/01/2018 9:30am

UK Regulatory (RNS & others)


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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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January 12, 2018 04:30 ET (09:30 GMT)

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