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Primoco UAV the Czech Manufacturer of Unmanned Aircraft, Successfully Fulfils New Missions

Prague, September 14, 2018 – Primoco UAV, the Czech company focused on development and production of unmanned aircraft is successfully completing new & exciting missions including the first sale of its aircraft to Africa, finalisation of the sale of 60 aircraft to the Middle East and preparing for listing on the Prague Stock Exchange.

A Primoco UAV One 100 completed a fully autonomous BVLOS flight in Finland in July 2018 for the purpose of ground analysis using a hyper-spectral camera. It was granted a permit making it the first unmanned aircraft with a take-off weight of 100 kg to fly in Finnish airspace.

In August 2018, Primoco UAV signed the contract for the delivery of two unmanned aircraft model One 150 to West Africa. In addition, the company is focused on conclusion of a contract for the supply of 60 aircraft for monitoring oil pipelines, gas pipelines and energy installations in the Middle East.

Primoco UAV is also targeting sales in the Mediterranean region. The visit to the company by Prime Minister Andrej Babiš opened possible cooperation with a focus on monitoring and protection of this region in connection with migration issues. The Maltese Prime Minister Joseph Muscat expressed his interest in the aircraft.

Primoco UAV intends to offer its shares to investors through a public primary offering on the Prague Stock Exchange within the Start initiative on October 2, 2018. The purpose is to issue new shares in the company representing 15% additional equity with an expected value of CZK 182 – 252 million. The company offers potential investors participation in the expected rapid growth in the company’s revenue, planned high profitability, and its intention to pay dividends at a favourable yield.

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