Notice of General Meeting

RNS Number : 1098W

Strat Aero PLC

06 February 2017

 

Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support Services

6 February 2017

Strat Aero plc ("Strat Aero", the "Company" or the "Group")

Notice of General Meeting

The Board of Strat Aero PLC herby notifies the shareholders of the Company that the planned General Meeting ('GM') of Strat Aero PLC, scheduled to be held on 17 February 2017, is cancelled and the proposed resolutions will be withdrawn and not put to shareholders.  The Company has revised the proposed resolutions on the agenda of the GM and a new Notice of GM has been sent to shareholders with the revised time and date for the new GM.  The replacement Notice will also be available to download from the Company's website at www.strat-aero.com.

The General Meeting will now take place on 21 February 2017 at 10:00 a.m. at the offices of Hill Dickinson, 8th Floor, The Broadgate Tower, 20 Primrose Street, London EC2A 2EW.

The revised resolutions that will be put to shareholders relate to the Board seeking the authority to increase the available headroom to issue ordinary shares.  The original resolution proposed raising the allowable limit for the Directors to allot equity securities up to an aggregate nominal amount of £760,000, however the authority to issue shares would be substantially depleted should the warrants associated with prior fundraisings be exercised.  To increase financing flexibility, the Directors are now seeking to increase this limit to £5 million.

- ENDS -

For further information please visit www.strat-aero.com or contact:

Strat Aero plc	Tel: [phone]
Graham Peck (Chairman)
SP Angel Corporate Finance LLP	Tel: [phone]
Nominated Adviser and Joint Broker
Stuart Gledhill Jeff Keating
Beaufort Securities Limited	Tel: [phone]
Joint Broker
Elliot Hance
Cornhill Capital Ltd	Tel: [phone]
Joint Broker
Colin Rowbury
St Brides Partners Ltd	Tel: [phone]
Financial PR Frank Buhagiar Susie Geliher

Notes

Strat Aero plc is a multi-divisional international aerospace services company, focussed 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. 

 

END

 

 

NOGEAEAKEAFXEFF