Increase of Hutchison shareholding limitation

RNS Number : 8701W

Gama Aviation PLC

24 April 2019

 

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) No 596/2014

24 April 2019

Gama Aviation Plc (AIM: GMAA)

("Gama", "the Company" or "the Group")

Board consent to Hutchison's request to increase limitation on shareholding

Gama Aviation plc, one of the world's largest business aviation service providers, entered into a relationship agreement (the Relationship Agreement) with Hutchison Whampoa (China) Limited (Hutchison) dated 9 February 2018.  Under the Relationship Agreement, Hutchison has agreed to not acquire any interest in shares or other securities of the Company (unless with the prior consent of the Company) for the duration of the Relationship Agreement provided that this restriction shall not apply to certain third party offers in accordance with the City Code on Takeovers and Mergers or where Hutchison's interest in the Company is less than 25% in aggregate.   

Following a request from Hutchison, the Company yesterday entered into a side letter amending this restriction such that it shall not apply to certain third party offers in accordance with the City Code on Takeovers and Mergers or where Hutchison's interest in the Company is less than 30% in aggregate.

For further information please contact:

Gama Aviation Plc                                             [phone]

Mine Taylor, Company Secretary

Camarco                                                           [phone]

Ginny Pulbrook

Geoffrey Pelham-Lane

Jefferies International                                        [phone]

Simon Hardy

Will Soutar

Gama Aviation - Notes to Editors

Gama Aviation Plc (AIM:GMAA) is a global business aviation services group that specialises in providing support for individuals, corporations and government agencies; allowing them to deliver on the promises they make.  

The Group's services are split into two divisions: Air and Ground. Air services include aircraft management, special mission support and charter.  Ground services cover aircraft maintenance services, aircraft modification design and installation, and Fixed Base Operations (FBO).

More details can be found at:  http://www.gamaaviation.com/

 

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