Strat Aero PLC (LON:AERO), an international aerospace company focused on the rapidly emerging Unmanned Aerial Vehicle (‘UAV’) sector, has today announced the following board changes with immediate effect.
Dr Nigel Burton has been appointed as a Non- Executive Director and Chairman of the audit committee. Nigel holds 142,857,143 ordinary shares in the Company which, following the admission of the recently announced Warrant Shares due to be admitted to trading on 16 January 2018, represents 2.7% of the enlarged share capital of the Company.
Dr Nigel Burton has over 25 years’ experience in operational and financial management, debt and equity financing, acquisition and integration of businesses, disposals, IPOs and trade sales. Following over 14 years as an investment banker at leading City institutions including UBS Warburg and Deutsche Bank, including as the managing director responsible for the energy and utilities industries, Nigel has spent 15 years as Chief Financial Officer of a number of private and public companies, including Navig8 Product Tankers Inc, PetroSaudi Oil Services Limited, Advanced Power AG, and Granby Oil and Gas plc. Nigel is currently Chief Executive Officer of Nu-Oil and Gas plc and a Non-Executive Director of Management Resource Solutions plc, both of which are listed on AIM.
Nigel is a Chartered Electrical Engineer (FIET) and a Past President of the IET. He has a B.Sc. (First Class Hons) in Electrical and Electronic Engineering and a Ph.D in Acoustic Imaging from University College London.
In addition, Mr Gerard Dempsey, Chief Financial Officer, has resigned from the Company and the Board would like to thank him for his contribution. Laura Grice, the Company’s Financial Controller will continue in that role and will report to the CEO. The Company will review the need for appointing a replacement Finance Director as Strat Aero’s business grows and develops.
Iain McLure, CEO of Strat Aero plc, commented, “We welcome Nigel to the Company, and his combination of experience and qualifications will be an asset to the Company going forward. The Strat Aero team continues to work with renewed vigour to deliver our strategic objectives of expanding our core Survey & Inspection and Education & Training divisions in 2018, in tandem with exploring complementary investment opportunities.”
Nigel John Burton aged 59, currently holds or has held the following directorships and partnerships in the last five years:
Wasdale Head Limited
Procurement Services (Delaware) Inc.
Wasdale Head Inn Limited
NU-Oil and Gas plc
Management Resource Solutions plc
ASD Visual Aids Limited
New Day Energy Indonesia Limited
Dr. Nigel Burton was a director of Pease Limited within 12 months of the company appointing a liquidator in June 1998. The company was subsequently liquidated.