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First Day of Dealings on AIM
Strat Aero plc, a revenue generative international aerospace services company currently focused on the provision of training solutions, management systems and consultancy services to the international aviation market, has announced the admission of its issued share capital to trading on AIM.
This follows the completion of a placing of 8,125,000 new Ordinary Shares at 8 pence per share to raise £650,000before expenses, giving the Company a market capitalisation of approximately £6.2 million on Admission at the Placing Price. The funds raised will be used to provide working capital for the Company’s existing and future business opportunities, particularly in relation to the fast growing Unmanned Aerial Systems market. SP Angel Corporate Finance LLP is nominated adviser and joint broker to the Company, and Beaufort Securities Limited acts as joint broker.
Overview:
· Established revenue generative aerospace services company well placed to capitalise on the exponential growth of the Unmanned Aerial Vehicles market
· Three existing divisions:
o UAS Pilot Training and Services – operates from the fully functional and multi-faceted UAS Training Centre in Roswell, New Mexico
o Aviation Software, Products and Services – proprietary advanced aerospace management system providing cloud-based enterprise wide management solutions for the aerospace sector and potentially, other sectors
o Aviation Management and Consultancy Services – multiple contracts in place including project management of the establishment of a new low cost airline in the Middle East
· Consultancy & development agreements in place with international aviation companies, government bodies and universities including:
o Co-operation agreement signed with major US defence contractor to train military pilots to fly fixed wing UAVs – expected to commence at Roswell centre in Q4 2014
o Agreement signed with the National Renewable Energy Laboratory, a division of the US Department of Energy, to develop sUAS (small Unmanned Aerial Systems) technology for use in the commercial sector such as wind-farms and oil and gas fields
· Civilian, law enforcement and military applications in UAS expected to be a dynamic growth sector in the aerospace industry over the next 10 years
· £650,000 raised to provide working capital for existing and future business opportunities in the UAS and ISR sectors; and further investment into UAS and UAV hardware for applications within the law enforcement and commercial sectors
· Highly skilled board and management team with a proven track record in providing multi-disciplined aviation services to both the public and private sectors
Capt. Russell Peck, CEO of Strat Aero, said,”Strat Aero offers a unique opportunity to gain exposure to the near exponential growth forecast for the UAV market and also to the wider aerospace industry. The potential uses for UAVs in both the public, governmental and commercial sectors are seemingly limitless and highly varied, ranging from the delivery of goods by retailers to the monitoring of wind farm turbines and remote oil and gas fields, and search and rescue operations. With a unique fully equipped UAV pilot training centre in Roswell and a co-operation agreement in place with a leading US defence contractor and the US Government’s NREL, Strat Aero is ideally placed to capitalise on this rapidly growing market and become the go-to provider of bespoke UAV training and solutions.
“While the UAS sector and our positioning offers tremendous scope to generate significant value for shareholders, Strat Aero is a multi-disciplined aerospace business with two other revenue generative divisions. Our consultancy business is highly regarded in the aerospace industry, as demonstrated by the calibre of the contracts currently in place which include project managing the establishment of a new low cost airline in the Middle East and supplying the Department of Civil Aviation Cyprus with inspectors to assist with the evaluation of certificates submitted to the regulatory authority for approval Meanwhile our proprietary aerospace management system, ERP (enterprise resource planning) software for the aviation sector, which is already being used by a large international aircraft cleaning company, is proven and ready for roll-out. Following today’s Admission to AIM, we are ideally positioned to build a cutting edge aerospace services company and I look forward to providing further updates on our progress.”
