Temporary Suspension of Trading

RNS Number : 0449A

Hangar 8 Plc

13 February 2014

 



13 February 2014

Hangar 8 plc ("Hangar8" or "the Company")

Potential acquisition and suspension of shares from trading on AIM

Hangar 8, one of Europe's largest operators of privately owned passenger jet aircraft, is pleased to announce that it is in advanced discussions with Air Charter Service Group plc ("ACS"), a privately owned air charter business, about a potential combination of the two businesses to form a significantly enlarged group on the AIM market.

The proposed transaction would constitute a reverse takeover for the purposes of the AIM Rules and, accordingly, trading in the Company's shares has been suspended pending the earlier of the cessation of discussions or the publication of a re-admission document (which will provide further detailed information on the proposed transaction), which will be posted to shareholders in due course.

Nigel Payne, Non-Executive Chairman, commenting on the proposed transaction: "We are very excited about the prospect of putting Hangar 8 and ACS together to strengthen our combined offering to the aviation industry.  I believe that the combination of the two businesses provides for a compelling proposition for all of the stakeholders of both businesses."

Enquiries:

Hangar 8 plc		[phone]
Nigel Payne, Non-Executive Chairman Dustin Dryden, Chief Executive Officer
Citigate Dewe Rogerson		+ 44 (0) 20 7638 9571
Chris Jarvis, Associate Director
Jonathan Smith, Director
Cantor Fitzgerald Europe		[phone]
Mark Percy / Catherine Leftley (Corporate Finance)
David Banks / Paul Jewell (Corporate Broking)

 

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