Board Changes

RNS Number : 5895D

Strat Aero PLC

07 July 2016

 

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

7 July 2016

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

Board Changes

Strat Aero plc, an international aerospace company focused on the rapidly emerging Unmanned Aerial Vehicle ("UAV") sector, announces that Mr. Greg Kuenzel, Non-Executive Director of the Company, is stepping down from the Board with immediate effect in order to focus on other business interests.

The Company is currently reviewing a number of potential candidates to replace Greg as chair of the audit committee and further announcements will be made in due course.

Graham Peck, Chairman of Strat Aero, said: "I would like to extend my sincerest thanks to Greg for the support he has provided to the Company during his tenure as a Director since Strat Aero's IPO in 2014.  I wish him the best of luck in his future endeavors."

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

- 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
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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