Approval of acquisition of Aviation Beauport Ltd

RNS Number : 2539P

Gama Aviation PLC

17 February 2016

 

17 February 2015

Gama Aviation Plc (AIM: GMAA)
("Gama", "Gama Aviation" or the "Company")

Approval by Jersey Competition Authority of the acquisition of Aviation Beauport Limited

Further to the announcement of 8 January 2016, Gama Aviation Plc, one of the world's largest business aviation service providers, is pleased to announce the approval by the Jersey Competition Authority of the acquisition by Gama Aviation of Aviation Beauport Limited; a privately owned Jersey based business offering a range of business aviation services. Completion of the acquisition will take place at midnight on 29 February 2016.

As part of the consideration for the acquisition, the Company will issue 1,000,000 new ordinary shares in the capital of the Company. Application is being made for the new ordinary shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective on 1 March 2016.

Following the issue of the new ordinary shares, there will be 43,994,442 ordinary shares in issue. The Company does not hold any Ordinary Shares in treasury and therefore this figure may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Ends

Gama Aviation Plc
Marwan Khalek, Chief Executive                                                     [phone]

Citigate Dewe Rogerson                                                                    [phone]
Chris Jarvis, Associate Director                                                      
Phil Anderson, Executive Director

Cantor Fitzgerald Europe                                                                   [phone]
(Nominated Adviser & Broker)         
Marc Milmo / Catherine Leftley (Corporate Finance)
David Banks (Corporate Broking)

 

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