katcenka
- 29 Nov 2005 15:59
People got in to early on this one, but now is the time to buy and at a cheap price too 1.75p, read the RNS
* Eurocopter flight trials successfully completed
* Additional German & US military purchases
* Additional working capital secured
SCOTTY Group plc, announces today that Eurocopter Deutschland ("Eurocopter"),
part of the European Aeronautic Defence and Space Company ("EADS"), has
confirmed that the official flight trials of its military helicopters which
contain SCOTTY's CH 53 SATCOM Mission equipment have passed successfully.
During the trials, the equipment was demonstrated to officials from the German
Army. SCOTTY has received positive feedback from the Ministry officials that
attended and can confirm that the project now enters a new phase in which every
effort is being made to speed up the procurement process necessary to finalise
the project and implement delivery.
In order to fund the additional working capital and costs incurred during the 6
week delay to the flight trials for the CH 53 programme, SCOTTY has secured a
convertible loan of #400,000 through a new facility provided by Headstart, with
the possibility for another #400,000 above that. SCOTTY's directors believe that
this facility could be repaid within the 60-day term of the loan if the delivery
programme with Eurocopter proceeds as they anticipate.
In addition to the Eurocopter project, SCOTTY expects to receive over #2 million
before the calendar year-end from the implementation and delivery of a number of
orders previously announced.
These also include the delivery of Euro720,000 worth of equipment including SCOTTY
Mobile Systems, SATCOM equipment and Telemedicine units to the German army in
this quarter. In addition, SCOTTY confirms that the US Army has deployed three
disaster co-ordination teams equipped with SCOTTY's video teleconferencing
equipment to the Gulf Coast states, which were affected by Hurricane Katrina.
Chief of Staff for the First U.S. Army, Col. James Hickey said: "Satellite
communications are often critical in a hurricane's aftermath. One of the things
we learned last year with the series of hurricanes that passed through Florida
was the need for satellite communications,"
"This storm will likely take out some key communications nodes, and cell phones
and landlines may not work for some time," he added.