GyroMetric shareholders approve exchange of Braveheart stake
Updated : 16:37
Fund management and strategic investor company Braveheart Investment Group said on Tuesday that GyroMetric shareholders had approved the exchange of part of Braveheart's holding in GyroMetric Systems in return for the issue of ordinary shares in Strat Aero.
The AIM-traded firm said no pre-emption rights were exercised by Gyrometric shareholders.
As a result, the consideration of £0.27m would be satisfied by the issue of 23,791,304 new shares in Strat Aero.
“Strat Aero has made an application for the admission to trading on the AIM market of the Strat Aero consideration shares, which is expected to take place on 7 September,” Braveheart’s board confirmed in its statement.