Amedeo Air Four Plus Limited Factsheet (1682Y)
May 03 2023 - 2:00AM
UK Regulatory
TIDMAA4
RNS Number : 1682Y
Amedeo Air Four Plus Limited
03 May 2023
3 May 2023
AMEDEO AIR FOUR PLUS LIMITED (the "Company")
(LSE: AA4, LEI: 21380056PDNOTWERG107)
Factsheet
The Company announces that its factsheet for the period to 31
March 2023 is now available on its website at
http://www.aa4plus.com . An extract from the Chairman's statement
within the factsheet is reproduced below.
The final quarter of our financial year was a watershed in some
respects. Thai Airways, whilst still under court protection,
switched from power by the hour (PBH) rent to the fixed monthly
rentals agreed with the bankruptcy planners. The airline is
operating our aircraft more and more as China and the rest of the
Asia Pacific region continue to increase flight traffic.
This in turn meant that the Board was able to take a more
confident view on the company's prospects, which resulted in the
compulsory redemption returning GBP28m to shareholders. We also
increased the regular quarterly dividend to 1.75p per share, being
7p per annum.
We remain aware that some shareholders want us to sell these
aircraft as they currently do not contribute to dividend income.
The Board continues to assess the variables that affect these
aircraft to identify when it is best to realise their value for
shareholders. The original leases were due to expire in 2029/30 and
the original loan financing for the first 3 aircraft also expires
at the same time. The leases having been extended by 6 years to
2035/2036, with the rent payable for the extension to be set by an
appraisal process. Amedeo is confident that the package of aircraft
and long leases has substantial value in excess of loan exposure
and the funds diverted previously from shareholders to keep lenders
current during the period when the airline was not paying rent due
to its entering court protection.
We welcomed Tom Sharp onto the board on 19 January 2023. Tom is
a director of Metage Capital and his experience in maximising
shareholder value will prove invaluable. We have now refreshed the
composition of the Board by introducing 3 new directors in the past
18 months who bring in a range of skills and fresh perspectives
Finally, you may have noticed that this factsheet has what we
hope will be a much more useful and user-friendly layout. We also
intend to launch a new website shortly. Amedeo has worked with
Liberum to deliver this and we thank them for their help.
For further information, please contact:
JTC Fund Solutions (Guernsey) Limited
+44 (0) 1481 702 400
Liberum Capital Limited
Chris Clarke / Darren Vickers / Owen Matthews
+44 (0) 20 3100 2000
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.
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END
DOCATMATMTBMBJJ
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