Amedeo Air Four Plus Limited Company Update - Suspension of Distributions (8166I)
April 06 2020 - 2:00AM
UK Regulatory
TIDMAA4
RNS Number : 8166I
Amedeo Air Four Plus Limited
06 April 2020
AMEDEO AIR FOUR PLUS LIMITED (the "Company")
Company Update - suspension of distributions
Further to its announcement of 17 March 2020, the Board of the
Company confirms that discussions are continuing between Amedeo
Limited (the Company's Asset Manager) with Thai Airways ("Thai"),
in respect of its ongoing lease obligations to the Company, and
with the lending banks providing debt financing in respect of the
four aircraft leased to Thai.
These discussions are in progress, however the numerous parties
involved coupled with the restraints caused by the Covid-19 crisis
means that they are unlikely to be concluded speedily. There
remains great uncertainty as to when and how many airlines will
emerge from the present crisis, which shows no sign of abating in
the near future. The Board has noted the informal expressions of
support from the Governments of Thailand and Dubai for their
aviation sectors but any relevant terms and conditions are not yet
clear.
Given the absence of immediate clarity as to the basis upon
which the situation will be resolved, the Board has resolved that
it is prudent temporarily at this time to suspend the payment of
any kind of distribution to shareholders.
The Board's priority lies in preserving the long-term financial
stability of the Company for the benefit of its shareholders and
creditors. The Board considers that maintaining its current level
of liquidity is a vital and prudent part in doing so.
The Board will keep the Company's financial position under
review and will make a further announcement as and when there are
any material developments in connection therewith. It is the
Board's ultimate hope that it will be able to resume making
distributions as soon as circumstances permit.
Robin Hallam
Chairman
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
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 on market abuse
(MAR).
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
The person arranging release of this announcement on behalf of
the Company is Ashley Senner of JTC Fund Solutions (Guernsey)
Limited.
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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