REG - Gama Aviation PLC - Statement re Potential Acquisition

Gama AviationAnnouncement

08/01/2024 11:45

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RNS Number : 9535Y  Gama Aviation PLC  08 January 2024

8(th) January 2024

The information contained within this announcement is deemed to constitute
inside information as stipulated under Article 7 of the Market Abuse
Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018.

Gama Aviation Plc (AIM: GMAA)

("Gama Aviation" or the "Company" or "Group")

Potential Acquisition

 

The Board of Gama Aviation is aware of industry market speculation and
confirms that it is in discussions to acquire the business of Specialist
Aviation Services Limited ("Specialist"). Specialist is a UK-based provider of
helicopter emergency medical services ("HEMS") and aircraft repairs and
maintenance services ("MRO"), including through contracts with certain air
ambulance charities in the UK. In 2022 Specialist generated circa £24m of
revenue.

The interest in Specialist is consistent with the Group's strategy to grow its
Special Mission business.

The discussions between the Group, Specialist and other key stakeholders are
well advanced and are expected to be concluded within the next few weeks, but
they remain subject to further negotiations, diligence, and Board approval.
Accordingly, there can be no certainty any transaction will be completed and,
if it does, on what terms such a transaction might take place.

A further announcement will be made in due course.

 

 

ENDS

 

Gama Aviation
Plc                                                                +44
(0) 1252 553 000

Marwan Khalek, Chief Executive

 

Camarco                                                                                +44
(0) 20 3757 4992

Ginny Pulbrook

Geoffrey Pelham-Lane

 

WH
Ireland
+44 (0) 207 220 1666

James Joyce

Sarah Mather

 

Gama Aviation - Notes to Editors

Founded in 1983 with the simple purpose of providing aviation services that
equip its customers with decisive advantage, Gama Aviation Plc (LSE AIM: GMAA)
is a highly valued global partner to blue chip corporations, government
agencies, healthcare trusts and private individuals.

 

The Group has three global divisions: Business Aviation (Aircraft Management,
Charter, FBO & MRO), Special Mission (Air Ambulance & Rescue, National
Security & Policing, Infrastructure & Survey, Energy & Offshore);
and Technology & Outsourcing (Flight Operations, FBO, CAM software, Flight
Planning, CAM & ARC services)

 

More details can be found at: http://www.gamaaviation.com/
(http://www.gamaaviation.com/)

 

 

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