15th Oct 2015 13:10
LONDON (Alliance News) - Drone maker Strat Aero PLC on Thursday said it has raised GBP1.3 million via a share placing which it will use to back the roll-out of its integrated global drone operations.
The company said it has issued 25.7 million shares at 5.0 pence per share. Shares in the company fell on the news, down to 5.325 pence, down 27%.
The funds will be used to back the company's growth strategy as it continues to try and create a vertically-integrated unmanned aerial vehicle product offering which will cover software, hardware and services.
"Having recently announced a new much broader strategy to become a full global solutions provider in the rapidly emerging high growth UAV sector, we are highly encouraged by the backing we have received from both new and existing investors," said Tony Dunleavy, Strat Aero's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
AERO.L