REG - Amedeo Air Four Plus - Return of Capital and Increased Quarterly Dividend

Amedeo Air Four PlusAnnouncement

22/02/2023 07:16

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RNS Number : 6294Q  Amedeo Air Four Plus Limited  22 February 2023

This announcement is deemed by the Company to constitute inside information as
stipulated under the Market Abuse Regulation (EU) No. 596/2014 which forms
part of domestic law in the United Kingdom pursuant to The European Union
Withdrawal Act 2018, as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019.

 

22 February 2023

AMEDEO AIR FOUR PLUS LIMITED (the "Company")

(LSE: AA4, LEI: 21380056PDNOTWERG107)

Return of Capital by a Partial Compulsory Redemption of Shares and Increased
Quarterly Dividend

The Board is pleased to announce a return of capital by way of a partial
compulsory redemption of shares and an increase in the Company's quarterly
dividend.

Under the terms of the restructured leases with Thai Airways agreed in
December 2021, from January 2023 the Company receives fixed monthly rent
rather than power by the hour rental receipts. As a result of this and the
commercial circumstances facing the Company, whilst also maintaining a prudent
approach to liquidity, the Board has approved the distribution to shareholders
of an aggregate amount of £28 million by way of a compulsory redemption (as
described below).

Additionally, the Company's dividend will be increased to 1.75 pence per share
(from 1.5 pence per share) per quarter from the next quarter with the next
dividend to be declared in April 2023.

Partial Compulsory Redemption of Shares

The Company intends to return to shareholders an aggregate amount of £28
million on 1 March 2023 (the "Redemption Date") for shareholders on the
register of members as at close of business on 28 February 2023 ("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 eight
existing Shares of Shareholders on the register of members as at close of
business on the Record Date, resulting in the redemption of approximately
43,414,185 Shares in aggregate. Consequently, the Redemption will be effected
at 64.50 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 through
CREST.  Where Shares are held in certificated form, payment will be made by
cheque posted to the address of the registered holder.

Any share certificates for the balance of holdings of Shares will also be
despatched to shareholders on or around 14 March 2023. The Company currently
has 347,313,483 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 GG00BMZQ5R81 will expire. A new ISIN number GG00BNDVLS54 (the "New
ISIN") in respect of the remaining Shares which have not been redeemed will be
enabled and available for transactions on 1 March 2023. 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                  28 February 2023
 Redemption Date and new ISIN enabled    1 March 2023
 Redemption Ex-date                      1 March 2023
 Redemption Payment Date (on or around)  14 March 2023

For further information, please contact:

Link Group

+44 (0) 3716 640 300

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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