• by  • April 15, 2020 • Amedeo


    Company Update – Emirates

    The Board of the Company announces that it was advised by its Asset Manager, Amedeo Limited, that they had received written confirmation that Emirates are seeking from the Company some form of financial accommodation.

    The Board has asked its Asset Manager to continue its negotiation with Emirates and also with the Company’s lending banks which have financed the Group’s acquisition of the relevant six A380-800 aircraft and two Boeing 777-300ERs leased to Emirates; with a view to reaching a conclusion acceptable to all parties.

    While these discussions are in progress, and due to the numerous parties involved coupled with the restraints caused by the Covid-19 crisis, the Board is of the view that they are unlikely to be concluded speedily.  However, the Board was pleased to note that Emirates, in their message, had confirmed that “the lease rental will remain current and up-to-date until an agreed contractual position is achieved”.

    The Board will keep the Company’s financial position under review and will make a further announcement as and when there are any material developments in connection therewith.

    Robin Hallam


    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.

    The latest available information on the Company can be accessed via the Company’s website www.aa4plus.com

    This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 on market abuse (MAR).

    For further information, please contact:

    Administrative Enquiries:
    JTC Fund Solutions (Guernsey) Limited
    Tel: +44 (0) 1481 702400

    Shareholder Enquiries:
    Nimrod Capital LLP
    Richard Bolchover, Marc Gordon
    Tel: +44 (0) 20 7382 4565

    The person arranging release of this announcement on behalf of the Company is Ashley Senner of JTC Fund Solutions (Guernsey) Limited.

    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