Update on sale of Stobart Air

RNS Number : 2728A

Esken Limited

28 May 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.

28 May 2021

Esken Limited

("Esken")

Update on proposed sale of Stobart Air and Carlisle Lake District Airport

Earlier today, Esken, t he aviation and energy infrastructure group, provided an update with regard to the proposed sale of its entire shareholdings in Stobart Air Unlimited Company (which operates regional flights under a franchise agreement for Aer Lingus) and Stobart Air (UK) Limited, the owner of Carlisle Lake District Airport, to Ettyl Limited ("Ettyl"), as previously announced on 20 April 2021.  

Since Esken's last update, Esken has become aware that Ettyl's proposed financing for the transaction is no longer available and understands that Ettyl is progressing discussions with another potential financing source. Esken is investigating these matters and seeking further information, including with regard to the impact this may have on the ability of Ettyl to finance the transaction and obtaining the change of control consents required in order to complete the transaction. Esken is discussing this matter with its lending banks given banking facility consent for the sale has been obtained.

A further announcement will be made when appropriate.

Enquiries:

Esken Limited Charlie Geller, Communications Director C/O Tulchan Communications
Tulchan Communications  Olivia Peters/David Allchurch	020 7353 4200 [e-mail]

 

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