AMEDEO AIR FOUR PLUS LIMITED
Acquisition of Asset
19 February 2016
As anticipated in the Company’s Prospectus dated 3 December 2015 (the “Prospectus”) Amedeo Air Four Plus Limited (the “Company”), via its wholly-owned subsidiary AA4P Epsilon Limited (“AA4PE”), on 19 February 2016 purchased directly from Airbus one A380 aircraft bearing manufacturer’s serial number 206 (the “Aircraft”) at a net cost to the Company of US$275 million. In accordance with the Investment Process outlined in the Prospectus, the Aircraft is the Fifth Asset to be acquired by the Company.
Following acquisition of the Aircraft, AA4PE entered into Aircraft Operating Lease arrangements with Emirates airline (“Emirates”) pursuant to which the Aircraft has been leased to Emirates for a term of 12 years, with fixed lease rentals for the duration. Following this purchase, the Company therefore now owns five A380s which have all been leased to Emirates.
About the Company
The Company is a Guernsey-domiciled company, with shares admitted to trading on the Specialist Fund Market (“SFM”) of the London Stock Exchange plc. (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 (the “Assets”).
To pursue its investment objective, the Company will seek to use the net proceeds of placings and/or other equity capital raisings, together with debt facilities (or instruments), to acquire widebody, or other, aircraft which will be leased to one or more major airlines.
The Company aims to provide Shareholders with an attractive total return comprising income, from distributions through the period of the Company’s ownership of the Assets, and capital, upon the sale of the Assets.
It is anticipated that income distributions will be made to Shareholders quarterly, subject to compliance with applicable laws and regulations. In line with the Distribution Policy the Directors of the Company declared interim dividends of 2.0625 pence per Share in July 2015, October 2015 and January 2016. The Company targets a distribution to investors of 2.0625 pence per Share per quarter (amounting to a yearly distribution of 8.25 per cent. as pro rated from the date of IPO Admission to 31 December 2015, based on the IPO Issue Price of 100 pence per Share) at least until such time as any aircraft other than the Initial Assets and the New Assets are acquired.
Defined terms used in this announcement shall have the same meaning as ascribed to them in the Company’s Prospectus dated 3 December 2015.