• by  • November 27, 2017 • Amedeo

    AMEDEO AIR FOUR PLUS LIMITED

    Announcement of the results of the Second Placing under the Company’s Placing Programme

    27 November 2017

    Further to the Company’s announcements on 1 November 2017 and 17 November 2017 in connection with a second placing under its current placing programme (the “Second Placing”), the Company is pleased to announce the successful completion of the Second Placing.

    Pursuant to the Second Placing, which was significantly oversubscribed, 40,350,000 New Shares in the Company are being allotted and issued at an issue price of 104 pence per New Share.

    The New Shares are expected to be admitted to trading on the Specialist Fund Segment of the London Stock Exchange’s Main Market at 8.00 a.m. on 28 November 2017 and unconditional dealings in the New Shares are expected to commence at 8.00 a.m. on 30 November 2017.

    Nimrod Capital LLP acted as Placing Agent to the Company.

    The ISIN number for the existing and the New Shares is GG00BWC53H48 and the SEDOL number for the New Shares is BWC53H4.

    In addition, the Company has been informed by Nimrod that orders to purchase 14,074,995 Shares to complete the Amedeo Share Sale have also been received.  Following completion of the Amedeo Share Sale, Amedeo Capital will hold 1,000,000 Shares in the Company.

    The Amedeo Share Sale did not form part of the Second Placing, but took place alongside it.

    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 Assets

    The Company currently owns eight Airbus A380-800, two Boeing 777-300ER and three Airbus A350-900s aircraft (the “Current Assets”), each of which is leased to an airline lessee for a term of 12 years from its acquisition date.

    Following the completion of the Second Placing, the Company intends to acquire a fourth Airbus A350-900 aircraft (the “New Asset”) for leasing to Thai Airways, expected to be acquired in January 2018.

    Share Capital

    Following the Second Placing, there will be 642,250,000 shares in issue and the Company’s market capitalisation will be approximately £667,940,000, based on the placing price of 104 pence per share.

    Income Distributions

    The Company receives, or will receive, income in the form of lease rentals for each Current Asset and the 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 pence per Share) at least until such time as any aircraft other than the Current Assets and the New Asset are acquired. As at the date of this announcement, the Company has been meeting its target distribution and 8.25 pence per Share has been distributed to Shareholders in four quarterly payments each year.

    Future acquisitions

    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.

     Defined terms used in this announcement shall have the same meaning as ascribed to them in the Company’s Prospectus dated 13 June 2017 as supplemented by the Company’s Supplementary Prospectus dated 17 November 2017.