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31 Dec 15. AeroVironment Announces Establishment of 10b5-1 Trading Plan by Chief Executive Officer. AeroVironment, Inc. (AVAV) announced that its chief executive officer and chairman of the board, Timothy E. Conver, as trustee of The Conver Family Trust, has established a pre-arranged stock trading plan to sell a portion of company stock held by the Trust over a specific period of time. The stock trading plan is part of a long-term strategy for asset diversification and liquidity and was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934 and AeroVironment’s policies with respect to employee stock transactions. Rule 10b5-1 allows corporate officers and directors to adopt written, pre-arranged stock trading plans when they do not have material, non-public information. Using these plans, insiders can diversify their investment portfolios, can spread stock trades out over an extended period of time to reduce market impact and can avoid concerns about whether they had material, non-public information when they sold their stock. Under the Rule 10b5-1 Plan, the Trust may sell up to 320,000 shares over a period of approximately nine months. If the Trust completes all the planned sales under the Rule 10b5-1 Plan, Mr. Conver would beneficially own approximately 2,139,920 shares of AeroVironment common stock (including all options currently exercisable by Mr. Conver), or approximately 9.1 percent of the company’s current outstanding shares. The transactions under this plan will commence no earlier than March 2016 and will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. The Form 4 filings will also be posted on AeroVironment’s website. (Source: Yahoo!/BUSINESS WIRE)
31 Dec 15. Reliance Defence Systems Acquires Saab Stake In Pipavav. Defence and security company Saab has sold its stake (approximately 3.3 per cent), in India’s Pipavav Defence and Offshore Engineering Company Limited (Pipavav). The buyer is India’s Reliance Defence Systems Private Limited, which has made a tender offer on outstanding shares in Pipavav. The transaction will positively affect Saab’s net financial income and cash flow positively.
On 1 November 2012 Saab announced that it had made an investment in Pipavav. This made a new partnership possible and made sure a good base for future businesses is in place. With a new strong owner in the company Saab is looking forward to develop this potential even further.
“It is natural to act on the inquiry we got from Reliance Defence Systems to acquire our stake in Pipavav. We believe the cooperation between Saab and Pipavav now has the potential to get even better with the new owner,” says Jan Widerström, head of Saab India.
“Saab works actively in support of India’s strategy to increase its national ability to produce defence material. Local partnerships are being fostered to meet the needs of the customer and the market conditions,” says Jan Widerström.
23 Dec 15. Saab and UMS Aero Group AG Create UMS Skeldar AG. Swedish defence company Saab and UMS Aero Group AG, a Swiss supplier of tactical unmanned aerial vehicles (UAVs), are forming a joint venture under the name UMS Skeldar AG.
Saab will transfer all assets relating to the Skeldar unmanned helicopter to UMS Skeldar.UMS Skeldar is a multi-skilled enterprise with all the capabilities necessary to manage and deliver UAV programs. This includes development, manufacture, testing, training and maintenance of the air vehicles plus all associated systems such as ground stations, communications links and data terminals. Saab’s holding in UMS Skeldar amounts to 47 %.“Through UMS Skeldar we are securing acces