REG - Amedeo Air Four Plus - Return of Capital and Dividend Reinstatement

Amedeo Air Four PlusAnnouncement

01/12/2021 07:00

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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 £30 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 £30 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 £30 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 enabled    8 December 2021
 Redemption Ex-date                      8 December 2021
 Redemption Payment Date (on or around)  15 December 2021

 

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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