19th Feb 2015 11:46
LONDON (Alliance News) - Strat Aero PLC said Thursday it has signed an option agreement to acquire a 70% share in marketing and sales company New Amsterdam Global Solutions LLC, and has signed a marketing and sales agreement with New Amsterdam.
The company said that the agreements are in line with its strategy to become a leading provider of unmanned aerial vehicle, or drones, services to the commercial sector.
Under the agreement it has a six month option to acquire the 70% stake at any time, for a total consideration of USD325,000 in cash, USD150,000 of which will be invested via a subscription for new shares in Strat Aero. Up to USD75,000 of the monthly retainer paid to New Amsterdam under the marketing and sales agreement will be offset against the acquisition consideration.
Under the marketing and sales deal New Amsterdam has been set a sales target of USD2 million for 2015, Strat Aero said.
Shares in Strat Aero are trading up 4.1% at 11.45 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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