TIDMAA4
RNS Number : 7426R
Amedeo Air Four Plus Limited
10 March 2016
-NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, TO US PERSONS OR INTO OR WITHIN
THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR, WITHIN THE EEA,
OUTSIDE THE UNITED KINGDOM. THE INFORMATION CONTAINED HEREIN DOES
NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN THE UNITED
STATES, AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN OR ANY
JURISDICTION IN WHICH SUCH AN OFFER OR SOLICITATION IS
UNLAWFUL.
AMEDEO AIR FOUR PLUS LIMITED
Announcement of the results of the Second Placing
under the Company's Placing Programme
10 March 2016
Amedeo Air Four Plus Limited (the "Company"), a
Guernsey-domiciled company, is pleased to announce the successful
completion, pursuant to the Placing Programme, of the Second
Placing. Admission of 53,000,000 New Shares of the Company at an
issue price of 101p per New Share to trading on the Specialist Fund
Market ("SFM") of the London Stock Exchange plc ("Admission") is
expected at 8.00 a.m. on 11 March 2016.
Nimrod Capital LLP acted as Placing Agent to the Company.
The ISIN number for the New Shares is GG00BWC53H48 and the SEDOL
number for the New Shares is BWC53H4.
Investment Objective and Policy
The Company's investment objective is to obtain income returns
and a capital return for its Shareholders by acquiring, leasing and
then selling aircraft. To pursue its investment objective, the
Company will seek to use the net proceeds of placings and/or other
equity capital raisings, together with financing facilities (or
instruments), to acquire widebody, or other, aircraft which will be
leased to one or more major airlines.
The Assets
Since the completion of its initial public offering on 13 May
2015 (the "IPO"), the Company has acquired five Airbus A380
aircraft (the "Assets"), the last of which was delivered in
February 2016.
The Assets are all leased to Emirates Airlines for a term of 12
years, with fixed lease rentals (the "Leases"). Under the terms of
the Leases, Emirates Airlines will bear the cost of repair and
maintenance of the Assets and will be required at its own cost to
insure each Asset against both damage and third party liability. At
the end of the Leases, Emirates Airlines will be required to
redeliver the Assets in full-life physical condition or
alternatively by a combination of redelivery in a specified minimum
physical condition, as set out in each Lease, plus cash
compensation (payable by Emirates Airlines) which together with the
aircraft sales proceeds amounts to the appraised (forecast) asset
value in full-life condition.
The Sixth Asset
Following admission of the 53,000,000 New Shares pursuant to the
Second Placing, the Company intends to acquire a sixth Airbus A380
aircraft (the "Sixth Asset"), also to be leased to Emirates
Airlines for a term of 12 years; on the same terms as above, with
delivery expected in April 2016.
Income Distributions
The Company receives, or will receive, income in the form of
lease rentals from the assets. Income distributions are currently
being made to Shareholders quarterly and, subject to compliance
with applicable laws and regulations, it is anticipated that such
income distributions will continue to be made on a quarterly basis.
The Company targets a distribution to investors of 8.25 pence per
Share per annum or 2.0625 pence per Share per quarter (at least
until such time as any aircraft other than the Assets and the Sixth
Asset are acquired), with the next distribution expected to be in
April 2016.
Future acquisitions
After the acquisition of the Sixth Asset, the Company's articles
of incorporation provide that the Company may only acquire further
aircraft with the approval of Shareholders by ordinary resolution
in relation to each proposed acquisition. In such circumstances, it
is the current intention of the Directors to offer Shareholders the
opportunity to participate in the equity financing of such further
acquisitions on a broadly pre-emptive basis, although other
approaches to the equity financing may also be considered and
pursued if the Directors consider it appropriate to do so.
Defined terms used in this announcement shall have the same
meaning as ascribed to them in the Company's Prospectus dated 3
December 2015.
For further information, please contact:
For administrative and company information:
JTC (Guernsey) Limited
+44 (0) 1481 702 400
For shareholder information:
Nimrod Capital LLP
Richard Bolchover
Marc Gordon
+44 (0) 20 7382 4565
Important Information
This announcement is an advertisement and not a prospectus and
investors should not subscribe for or purchase any shares referred
to in this announcement except on the basis of information in the
Prospectus dated 3 December 2015.
The above target distributions are targets only and are based on
various projections and assumptions at the time of modelling and
are therefore subject to change. The income the Company may receive
cannot be accurately predicted and is subject to risks including,
but not limited to, a default by a lessee on its obligations under
a lease, late delivery of either of the Sixth Assets and the effect
of loan bullet payments falling due (which may cause the Board to
consider if a distribution can lawfully be made under Guernsey
law). Moreover, should Shareholders approve the acquisition of
further aircraft or the sale proceeds of one or more of the Assets
or the Sixth Assets be re-invested, there can be no guarantee that
the terms on which such further aircraft are leased will support
the level of target dividends described above. There can therefore
be no guarantee that dividends will be paid to Shareholders and, if
dividends are paid, as to the timing and amount of any such
dividend. Any distribution of dividends to Shareholders will be
subject always to compliance with the Companies Laws.
Target yields or returns are targets only and there can be no
guarantee that the company will achieve such targets at the levels
stated or at all. Prospective investors should not place any
reliance on such targets in deciding whether to invest in the
Company.
This announcement and the information contained herein is not
for publication, release or distribution, directly or indirectly,
in or into the United States, Australia, Canada, South Africa or
Japan or, within the EEA, outside the United Kingdom, or any
jurisdiction in which the same would be unlawful. This announcement
is not an offer to sell or a solicitation of any offer to buy the
securities of Amedeo Air Four Plus Limited (the "Company", and such
securities, the "Securities") in the United States, Australia,
Canada, Japan or, within the EEA, outside the United Kingdom, or in
any other jurisdiction where such offer or sale would be unlawful.
Any offering will only be made in any jurisdiction in compliance
with local laws.
The Company has not been and will not be registered under the US
Investment Company Act of 1940 (the "Investment Company Act") and,
as such, holders of the Securities will not be entitled to the
benefits of the Investment Company Act. No offer, sale, resale,
pledge, delivery, distribution or transfer of the Securities may be
made except under circumstances that will not result in the Company
being required to register as an investment company under the
Investment Company Act. The Securities have not been and will not
be registered under the US Securities Act of 1933 (the "Securities
Act"), or with any securities regulatory authority of any state or
other jurisdiction of the United States, and may not be offered,
sold, resold, pledged, delivered, distributed or transferred,
directly or indirectly, into or within the United States or to, or
for the account or benefit of, US persons as defined in Regulation
S under the Securities Act ("US Persons") except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and in compliance
with any applicable securities laws of any state or other
jurisdiction of the United States and in a manner which would not
require the Company to register under the Investment Company Act.
No public offering of the Securities is being made in the United
States.
This announcement has been approved for issue in the United
Kingdom for the purposes of section 21 of the UK Financial Services
and Markets Act 2000 by Nimrod Capital LLP which is authorised and
regulated by the UK Financial Conduct Authority.
Nimrod Capital LLP, which is authorised and regulated in the
United Kingdom by the Financial Conduct Authority, is acting for
Amedeo Air Four Plus Limited in connection with the Placing and
will not regard any other person (whether or not a recipient of
this document or other information) as its customer in relation
thereto and will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Nimrod
Capital LLP nor for providing advice in connection with the Placing
and the contents of this announcement or any other matter referred
to herein. Nimrod Capital LLP is not responsible for the contents
of this announcement. This does not exclude or limit any
responsibilities which Nimrod Capital LLP may have under the
Financial Services and Markets Act 2000 or the regulatory regime
established thereunder.
This information is provided by RNS
The company news service from the London Stock Exchange
END
STREASDEFSAKEFF
(END) Dow Jones Newswires
March 10, 2016 10:55 ET (15:55 GMT)
Amedeo Air Four Plus (LSE:AA4)
Historical Stock Chart
From Jun 2024 to Jul 2024
Amedeo Air Four Plus (LSE:AA4)
Historical Stock Chart
From Jul 2023 to Jul 2024