REG - Esken Limited - Response to press speculation

EskenAnnouncement

14/06/2021 15:15

RNS Number : 8414B
  
Esken Limited
  
14 June 2021
  
 

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.
 
14 June 2021
 
ESKEN LIMITED
('Esken' or 'the Group')
 
Response to press speculation
 
Esken Limited, the aviation and energy infrastructure group, notes the recent press speculation regarding a potential strategic partnership for London Southend Airport (LSA).
 
The Group confirms that it is in the final stages of agreeing the documentation with Carlyle Global Infrastructure Opportunity Fund with regards to a long term strategic funding transaction relating to the development of LSA.  Under the proposed terms of the partnership, Carlyle would provide £120 million of funding net of Carlyle costs via a loan (convertible at Carlyle's option into an equity stake of 29.99% in LSA), which would release £100m of liquidity into the rest of the Group. 
 
This announcement should be read in conjunction with Esken's trading update released earlier today, with RNS Number 7124B. The transaction would be subject to a number of conditions, including Esken obtaining shareholder approval. Esken cautions that no guarantees can be given at this stage that the transaction will be concluded.
 Enquiries:
 
Esken Limited                                                                   C/o Tulchan
Charlie Geller, Communications Director
 
Tulchan
Olivia Peters                                                                       T: +44 (0)20 7353 4200 
      E: opeters@tulchangoup.com 
 
David Allchurch                                                                 T: +44 (0)20 7353 4200 
      E: dallchurch@tulchangroup.com
 
 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
SPCSFAFLLEFSESM