PRIMOCO UAV, CZECH MANUFACTURER OF UNMANNED AIRCRAFT, SUCCESSFULLY COMPLETED THE ISSUE OF NEW SHARES. MORE THAN 300 NEW SHAREHOLDERS HAVE DECIDED TO INVEST A TOTAL OF CZK 90 MILLION THE FURTHER GROWTH OF THE COMPANY.

The Czech company PRIMOCO UAV SE received CZK 90.5 million from investors on the Prague Stock Exchange to finance its further development. The Czech manufacturer of unmanned aircraft issued 364,200 new shares. The newly subscribed shares represent almost 8% of the company's share capital.

The company, whose shares have been traded on the Prague Stock Exchange market since 2018, is recording a growing interest in its One 150 unmanned aircraft, especially from state security, rescue services, and private industrial companies. It is currently negotiating the sale of 233 machines to 40 customers worldwide. As the company’s management announced before the start of the issue, the funds received from the issue of new shares will be used to expand production capacity and further develop Písek – Krašovice Airport. PRIMOCO UAV owns and operates Písek – Krašovice Airport for testing new technologies and certifying its manufactured aircraft.

“I take investors’ interest in the new shares of our company not only as support for further successful development of Primoco UAV but also as a confirmation that we are going in the right direction. Unmanned aerial vehicles sales are experiencing a rapid boom globally and our aircraft is one of the leaders in its category. This share issue increased the company’s liquidity, additionally the publicly traded shares (free float) grew to 13%,”  says Ladislav Semetkovský, founder, CEO and majority owner of PRIMOCO UAV SE.

The total number of shareholders has increased from 100 to more than fourfold through the new capital issue. Most of them are individual investors from the Czech Republic and abroad, but the company’s shareholders also include four institutional investors. The majority owner of PRIMOCO UAV SE remains the company’s founder Ladislav Semetkovský who now owns 60% of the shares.

The subscription took place in two phases, with the company offering investors a total of 655,300 new shares. Only the original shareholders could participate in the first round, for the price of CZK 240 per share. The price range for the second round of subscription opened to everyone with the price of CZK 260 to 360 per share. Prior to the subscription, the price of PRIMOCO UAV shares on the Prague Stock Exchange was CZK 358 per share, which represents a 49% increase since the beginning of this year.

About the Company

The Czech company Primoco UAV develops and manufactures civilian and military unmanned aircraft One 150. The aircraft is capable of flying completely independently according to programmed flight plans, including fully automatic take-off and landing. One of the key features of the aircraft is its exceptional endurance, thanks to which it can fly non-stop for more than 15 hours at a cruising speed of 100-150 km/h which represents a range of up to 2,000 km. The maximum take-off weight of 150 kg and a payload of 30 kg allow the One 150 aircraft to be used for various civilian and military operations. The company’s aircraft is currently operating on three continents for inspections of product pipelines and distribution networks in the energy sector, ensuring border and coastal security, monitoring fires, and in search and rescue operations. The current production capacity of PRIMOCO UAV SE is 50 aircraft per year. So far, the company has produced 70 airframes at its plant in Radotín, Prague. Primoco UAV is currently negotiating the sale of a total of 233 unmanned aircraft for 40 customers worldwide. PRIMOCO UAV SE is a publicly traded company on the Prague Stock Exchange market.

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