Response to press speculation

RNS Number : 8414B

Esken Limited

14 June 2021

 

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.

14 June 2021

ESKEN LIMITED

('Esken' or 'the Group')

Response to press speculation

Esken Limited, the aviation and energy infrastructure group, notes the recent press speculation regarding a potential strategic partnership for London Southend Airport (LSA).

The Group confirms that it is in the final stages of agreeing the documentation with  Carlyle Global Infrastructure Opportunity Fund with regards to a long term strategic funding transaction relating to the development of LSA.  Under the proposed terms of the partnership, Carlyle would provide £120million of funding net of Carlyle costs via a loan (convertible at Carlyle's option into an equity stake of 29.99% in LSA), which would release £100m of liquidity into the rest of the Group. 

This announcement should be read in conjunction with Esken's trading update released earlier today, with RNS Number 7124B. The transaction would be subject to a number of conditions, including Esken obtaining shareholder approval. Esken cautions that no guarantees can be given at this stage that the transaction will be concluded.

  Enquiries:

Esken Limited  C/o Tulchan

Charlie Geller, Communications Director

Tulchan

Olivia Peters                                                  T: [phone] 

      E:  [e-mail]  

David Allchurch                                              T: [phone] 

      E : [e-mail]

 

END

 

 

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