Aerosonde Holdings, Australia's only share-market listed unmanned air vehicle manufacturer, is facing liquidation after it was suspended from trading from 3 May. The move follows a withdrawal of a take-over offer by Saab Systems on 2 May. Aerosonde recorded a half-year operating loss after tax of A$17.6 million ($9.6 million). Saab sought full control in late March after Aerosonde's third-quarter results showed cash flow that would prevent the servicing of a A$1 million loan due in July. Saab holds an 18% stake in the firm, with partially paid options on an additional 10,000 shares. It stands to lose over A$5 million unless backers are found.
Source: Flight International