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Last updated on April 16, 2014 at 1:21 EDT

Pegasus Helicopter Group PLC. Closes $2 Million Capital Investment by a Private, Substantial, Strategic International Investor

September 14, 2011

LONDON, September 14, 2011 /PRNewswire/ –

Further to the delisting from the plus market on 17 June 2011, the board
of Pegasus Helicopter Group PLC is pleased to announce the final closing and
receipt of the committed $2 million investment from the Kuwaiti holding
company “Thimar.” The investment is in the form of a note convertible into
28.6% of the shares outstanding after the transaction. The investment
heralds the initiation of “Phase 1″ of the company’s development and growth
plans-to design, flight test and build 2 flight demonstrators and “kit”
tooling. The demonstrators will be used for business development purposes
and kit tooling to manufacture near term kits for the experimental
helicopter market. This phase is expected to be completed within 12 months.
The company will also invest time and effort in investigating the advantages
of having a second production line or assembly facility within the U.K.,
with a view to taking advantage of new U.K. enterprise zones specifically
designed for technology and aerospace development, on top of EU investments
available for companies such as Pegasus. Phase 2, which the investor is
keenly aware of, is contemplated to start after a successful Phase 1 and
will include the design, development and building of a complete production
line for FAA certified 4 – 6 seat helicopters for worldwide multi-mission
applications. As a result of the company’s delisting from the PLUS market,
the company is pleased to announce it has retained Brewin Dolphin who
specialise in “matched bargain markets,” which create markets for unquoted
companies.

Robert A. Zummo, CEO, stated this was an exciting time for the company
in pursuing the goal of delivering its proven pressure jet technology to
worldwide markets.

Please contact:

        Robert A. Zummo
        CEO
        Email:  pegasushelicoptergroupplc@gmail.com

        C.J. McDonald-Drewitt (Capt. Rtd.)
        Chairman
        Email:  pegasusheli@m2dltd.com

        Brewin Dolphin Securities
        Email:  MatchedBargain@brewin.co.uk
        Phone: +44(0)845-213-4442

http://www.brewin.co.uk

SOURCE Pegasus Helicopter Group Plc


Source: PR Newswire