AMEDEO AIR FOUR PLUS LIMITED
Announcement of the results of the First Placing under the Company’s Placing Programme
s Limited (the “Company”), a Guernsey-domiciled company, is pleased to announce the successful completion, pursuant to the Placing Programme, of the First Placing. Admission of 47,000,000 New Shares of the Company at an issue price of 100p per New Share to trading on the Specialist Fund Market (“SFM”) of the London Stock Exchange plc (“Admission”) is expected at 8.00 a.m. on 15 December 2015.
Nimrod Capital LLP acted as Placing Agent to the Company.
The ISIN number for the New Shares is GG00BWC53H48 and the SEDOL number for the New Shares is BWC53H4.
Investment Objective and Policy
The Company’s investment objective is to obtain income returns and a capital return for its Shareholders by acquiring, leasing and then selling aircraft. To pursue its investment objective, the Company will seek to use the net proceeds of placings and/or other equity capital raisings, together with financing facilities (or instruments), to acquire widebody, or other, aircraft which will be leased to one or more major airlines.
The Initial Assets
Since the completion of its initial public offering on 13 May 2015 (the “IPO”), the Company has acquired four Airbus A380 aircraft (the “Initial Assets”) which have been leased to Emirates Airlines.
The New Assets
Following admission of the New Shares pursuant to the First Placing, the Company will acquire a fifth Airbus A380 aircraft and, if the Second Placing is approved by the Board of Directors, following admission of the New Shares pursuant to the Second Placing, the Company will acquire a sixth Airbus A380 aircraft (such aircraft being the “New Assets”).
The New Assets will be leased to Emirates Airlines, for a term of 12 years, with fixed lease rentals.
The Company receives, or will receive, income in the form of lease rentals for each Initial Asset and each New Asset. Income distributions are currently being made to Shareholders quarterly and, subject to compliance with applicable laws and regulations, it is anticipated that such income distributions will continue to be made on a quarterly basis. The Company is targeting 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 completion of the Company’s IPO on 13 May 2015 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. The first such distribution, at the target amount of 2.0625 pence per Share, was declared on 2 July 2015 and paid on 24 July 2015. The second such distribution, also at the target amount of 2.0625 pence per Share, was declared on 2 October 2015 and paid on 23 October 2015. The third such distribution is expected to be declared in early January 2016 and paid on or around 29 January 2016.
After the acquisition of the New Assets, the Company’s articles of incorporation provide that the Company may only acquire further aircraft with the approval of Shareholders by ordinary resolution in relation to each proposed acquisition. In such circumstances, it is the current intention of the Directors to offer Shareholders the opportunity to participate in the equity financing of such further acquisitions on a broadly pre-emptive basis, although other approaches to the equity financing may also be considered and pursued if the Directors consider it appropriate to do so.
Defined terms used in this announcement shall have the same meaning as ascribed to them in the Company’s Prospectus dated 3 December 2015.