Amedeo Air Four Plus Limited Disposition of Two Assets (1003E)
February 25 2020 - 10:44AM
UK Regulatory
TIDMAA4
RNS Number : 1003E
Amedeo Air Four Plus Limited
25 February 2020
AMEDEO AIR FOUR PLUS LIMITED (the "Company")
DISPOSITION OF TWO ASSETS
The Board of Directors is pleased to announce that the Company,
via its wholly-owned subsidiaries, has completed the sale of two
A380-800 aircraft bearing manufacturer's serial numbers 233 and 237
to Etihad Airways PJSC.
The sales included the full repayment of the financing
arrangements on both aircraft, including applicable swap breakage
and facility prepayment costs. After the payment of all applicable
transaction costs, fees and expenses (which amount to approximately
GBP 5,100,000), the Company expects to realise aggregate net cash
proceeds of approximately GBP 130,860,000.
The Board of Directors, having due regard to prevailing market
conditions and to existing and anticipated secondary market
activity regarding A380 aircraft, consider this to be a favourable
financial result achieved for and on behalf of shareholders.
Following these sales, the Company owns six A380-800 and two
B777-300ER (which are leased to Emirates Airline) and four A350-900
aircraft (which are leased to Thai Airways).
The Company may seek to identify potential sale and purchase
opportunities at appropriate points for other aircraft, though
there can be no assurance that the sale of the two A380-800
aircraft to Etihad announced today necessarily affords guidance as
to the ability to realise the remaining aircraft, including the six
such A380-800 aircraft, or to the value that might be achieved upon
such realisations.
The Board of Directors will now consider the best utilisation of
the net proceeds received from the sale of these two aircraft and
will make a further announcement in this regard in due course.
About the Company
The Company is a Guernsey-domiciled company, with shares
admitted to trading on the Specialist Fund Segment of the London
Stock Exchange's Main Market (LSE: AA4).
The Company's investment objective is to obtain income returns
and a capital return for its Shareholders by acquiring, leasing and
then selling aircraft.
The latest available information on the Company can be accessed
via the Company's website www.aa4plus.com.
For further information, please contact:
Administrative Enquiries:
JTC Fund Solutions (Guernsey) Limited
Tel: +44 (0) 1481 702400
Shareholder Enquiries:
Nimrod Capital LLP
Richard Bolchover, Marc Gordon
Tel: +44 (0) 20 7382 4565
info@nimrodcapital.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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