Purchase of Minority Holding in CLA

RNS Number : 1946S

Avation PLC

22 September 2014

 



RNS: AVAP

RNS: CLA

22 September 2014

AVATION PLC
(the "Company" or  "Avation")

PURCHASE OF MINORITY HOLDING IN CAPITAL LEASE AVIATION PLC

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, has agreed to acquire 21,065,334 ordinary shares in aircraft lessor Capital Lease Aviation PLC (AIM: CLA) at a price of 20.5 pence per share in cash, increasing its holding of voting rights in CLA's issued share capital to 90.59% (disregarding the shares CLA holds in treasury).

The transaction has been entered into with the second largest shareholder in CLA after the Company itself and is expected to complete on or before 18 November 2014.

Executive Chairman of the Company, Jeff Chatfield, commented by saying, "This further consolidates Avation's holding in CLA. The transaction is net asset accretive.  Avation has been growing its asset base and recently announced a broadening of its business activities with new aircraft lessees in Europe and Asia."

---ENDS---

More information on Avation PLC can be seen at: www.avation.net

Avation PLC	Jeff Chatfield, Executive Chairman	[phone]
WH Ireland	Harry Ansell / James Joyce	[phone]
Cenkos	Guy Briselden	[phone]
Blytheweigh	Tim Blythe / Eleanor Parry	[phone]

 

END

 

 

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