Update on Completion of Acquisition of Geocurve

RNS Number : 1122E

Strat Aero PLC

13 July 2016

 

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

13 July 2016

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

Update on Completion of Acquisition of Geocurve

Strat Aero plc, an international aerospace company focused on the rapidly emerging Unmanned Aerial Vehicle ("UAV") sector, is pleased to announce that it is currently in negotiations with the founders of Geocurve Limited ("Geocurve") to finalise the total consideration and terms of settlement for the acquisition of Geocurve.  For details on the terms of the acquisition please refer to the Company's announcement of 30 September 2015.  A further update will be provided by the Company in due course.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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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
Joint Broker
Colin Rowbury	Tel: [phone]
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. 

 

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