Disposition of Two Assets

RNS Number : 4561D

Amedeo Air Four Plus Limited

19 February 2020

 

AMEDEO AIR FOUR PLUS LIMITED (the "Company")

19 February, 2020

DISPOSITION OF TWO ASSETS

The Board of Directors is pleased to announce that the Company, via its wholly-owned subsidiaries, has entered into agreements dated 18 February, 2020 to sell two A380-800 aircraft bearing manufacturer's serial numbers 233 and 237 to Etihad Airways PJSC.  Closing of the sales, which are subject to the fulfilment of certain conditions precedent, is expected to occur on or around 24 February, 2020.

After repayment of the current financing arrangements on the aircraft, the determination of swap breakage and facility prepayment costs together with transaction costs, fees and expenses, the Company currently expects the aggregate net cash proceeds to the Company to be in the region of GBP 130 million.

An announcement containing further details of the sales will be made once the transactions close on or around 24 February 2020.  

The Board of Directors will consider the best utilisation of the net proceeds once received and a further announcement in this regard will be made in due course.

About the Company

The Company is a Guernsey-domiciled company, with shares admitted to trading on the Specialist Fund Segment of the London Stock Exchange's Main Market (LSE: AA4).

The Company's investment objective is to obtain income returns and a capital return for its Shareholders by acquiring, leasing and then selling aircraft.

The latest available information on the Company can be accessed via the Company's website www.aa4plus.com.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 on market abuse (MAR).

For further information, please contact:

Administrative Enquiries:

JTC Fund Solutions (Guernsey) Limited

Tel: [phone]

Shareholder Enquiries:

Nimrod Capital LLP

Richard Bolchover

Marc Gordon

Tel: [phone]

[e-mail]

The person arranging release of this announcement on behalf of the Company is Ashley Senner of JTC Fund Solutions (Guernsey) Limited.

The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe, any applicable requirements. 

END OF ANNOUNCEMENT

E&OE - in transmission

 

END

 

 

DISVKLBFBLLZBBE