Amedeo Air Four Plus Limited Company Update - Thai Airways (4204O)
May 29 2020 - 10:39AM
UK Regulatory
TIDMAA4
RNS Number : 4204O
Amedeo Air Four Plus Limited
29 May 2020
AMEDEO AIR FOUR PLUS LIMITED (the "Company")
Company Update - Thai Airways
Further to the Company's announcement of 19 May 2020, on 26 May
Thai Airways submitted to the Central Bankruptcy Court of Thailand
its petition to file for rehabilitation citing a total debt amount
of THB 352,494,285,416 (c. GBP9 billion) and its proposal for the
rehabilitation planner, being EY Corporate Advisory Services
Limited plus five gentlemen well respected within Thailand's
business community, and collectively the "Planner".
On 27 May 2020 the Court issued an order to accept the
rehabilitation petition for consideration and has set the date of
17 August for the first hearing on the rehabilitation petition.
Effectively, from 27 May an automatic stay comes into effect
which restricts Thai Airway's right to pay and incur debts and a
moratorium affecting creditors' rights comes into force.
Thai Airways has not paid any lease payments to the Company's
subsidiaries since 22 May.
The Asset Manager is in discussion with Thai Airways and also
the secured lenders of the four aircraft on lease to Thai Airways
and awaits further news of the Planners' intentions, which might
not become clear until much nearer to the August hearing.
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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