Amedeo Air Four Plus Limited Company Update (0702N)
May 15 2020 - 6:04AM
UK Regulatory
TIDMAA4
RNS Number : 0702N
Amedeo Air Four Plus Limited
15 May 2020
AMEDEO AIR FOUR PLUS LIMITED (the "Company")
Company Update - Thai Airways & Emirates
Further to its announcement of 17 March and 6 April 2020
regarding the lease of four Airbus A350 aircraft to Thai Airways
("Thai") and Thai's request for assistance received by the Company,
the Company has been negotiating with Thai regarding a partial
deferral of its scheduled lease rental payments for a six month
period commencing in April 2020 (the "Rental Payment Deferral")
with such deferred payments to then be made good with interest over
the following three years.
Whilst Thai Senior Management has confirmed an in principle
agreement with the Rental Payment Deferral, the appropriate
signatures on the documents are still pending, delayed by the Thai
Government setting up a special government committee to handle the
new business improvement plan for Thai; so such agreement remains
subject to contract. The consent of the relevant lenders to the
Rental Payment Deferral has been obtained. It is the Company's
intent to allow Thai the benefit of the Rental Payment Deferral
during this period prior to formalisation and all of the Company's
rights under the leases are asserted and remain unaffected while
waiting for the executed documents.
The Rental Payment Deferral will result in a significant
reduction in the rental income received by the Company's group from
Thai over the six month period, but repayment has been structured
to provide that there will be a complete catch-up on such reduction
together with interest in the three year period from October
2020.
The Board will keep the Company's financial position and
dividend policy under review in light of this development and the
ongoing discussions in relation to a possible financial
accommodation with Emirates, as announced by the Company on 15
April 2020, and will provide a further update 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
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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