TIDMAA4
RNS Number : 1146U
Amedeo Air Four Plus Limited
01 December 2021
This announcement contains inside information as defined for the
purposes of Article 7 of the Market Abuse Regulation (EU) No.
596/2014 as it forms part of UK law by virtue of the European Union
(Withdrawal) Act 2018.
1 December 2021
AMEDEO AIR FOUR PLUS LIMITED (the "Company")
(LSE: AA4, LEI: 21380056PDNOTWERG107)
Return of Capital by a Partial Compulsory Redemption of Shares;
Dividend Reinstatement
The Company announces the following in respect of a return of
capital by way of a partial compulsory redemption of shares, the
proposed reinstatement of the Company's quarterly dividend and an
update in respect of Thai Airways.
Return of Capital and Reinstatement of Dividend
In September 2020, the Company returned to shareholders a large
portion of the net proceeds from the sale of two aircraft, whilst
retaining GBP30 million to provide the Company with financial
flexibility in what the Board considered to be a challenging and
uncertain environment. Notwithstanding that some uncertainty
remains, the Board believes that the commercial circumstances
facing the Company allow for a return of capital to shareholders,
together with the re-introduction of quarterly dividends.
Accordingly, the Company announces that it intends to return to
Shareholders an aggregate amount of GBP30 million (by way of a
compulsory redemption as described below).
The Board also intends to reinstate a regular dividend with the
first dividend payment being made in Q1 2022. The quantum of the
dividend will be announced shortly.
Partial Compulsory Redemption of Shares
As noted above, the Company intends to return to Shareholders an
aggregate amount of GBP30 million on 8 December 2021 (the
"Redemption Date") for shareholders on the register of members as
at close of business on 7 December 2021 ("Record Date"), by way of
a partial compulsory redemption (the "Redemption") of the ordinary
shares ("Shares") in the capital of the Company.
Pursuant to the Redemption, the Company will redeem one Share
for every five existing Shares of Shareholders on the register of
members as at close of business on the Record Date, resulting in
the redemption of approximately 86,828,351 Shares in aggregate.
Consequently, the Redemption will be effected at 34.55 pence per
Share. No fractions of Shares will be redeemed and the number of
Shares to be redeemed for each Shareholder will be rounded down to
the nearest whole number of Shares, as appropriate.
All redemption proceeds are expected to be paid in pounds
sterling using the existing mandate record held on file on or
around 15 December 2021. Where no payment details are held on file,
payment will be made by cheque posted to the address of the
registered holder. Shareholders may elect to receive their proceeds
by electronic bank transfer by request sent to the Company's
Registrar JTC Registrars Limited, PO Box 156, Dorey Court, Admiral
Park, St Peter Port, Guernsey GY1 4EU. Such requests should be sent
initially to registrars@jtcgroup.com and this will need to be
provided by close of business on 13 December 2021 in order for the
election to be effective. The request must specify the full bank
account details of the account (which must be in the name of the
registered holder(s)) to which the redemption proceeds are to be
paid. All bank payment charges will be for the account of the
payee.
Any share certificates for the balance of holdings of Shares
will also be despatched to shareholders on or around 15 December
2021. The Company currently has 434,141,757 Shares in issue (none
of which are held in treasury). All of the Shares redeemed on the
redemption date will be cancelled. Accordingly, once redeemed, such
Shares will be incapable of transfer.
The Shares will be disabled in CREST on the Record Date and the
existing ISIN number GG00BKY41C61 (the "Old ISIN") will expire. A
new ISIN number GG00BMZQ5R81 (the "New ISIN") in respect of the
remaining Shares which have not been redeemed will be enabled and
available for transactions on 8 December 2021. Any Shares which
have traded on or before the Record Date, but have not settled,
will be included in the Redemption . CREST will automatically
transfer any open transactions as at the Redemption Date to the New
ISIN.
Shareholders should note that the Board retains absolute
discretion as to the execution, extent and timing of any further
returns of capital.
Expected timetable:
Redemption Record Date 7 December 2021
Redemption Date and new ISIN 8 December 2021
enabled
-----------------
Redemption Ex-date 8 December 2021
-----------------
Redemption Payment Date (on 15 December 2021
or around)
-----------------
Update in respect of Thai Rehabilitation Plan
The lease restructurings with Thai Airways, in respect of four
A350-900 aircraft, are proceeding satisfactorily. The Company will
issue an update when the restructurings are finalised.
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
MSCFLFSTLALIVIL
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December 01, 2021 02:00 ET (07:00 GMT)
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