Amedeo Air Four Plus says it wants to buy two Airbus A380-800 planes for leasing to Etihad. They want to buy the first of these in March 2017 and the second in May 2017. Shareholders will have the chance to approve the deal at a meeting planned for 14 December.
40,250,000 new shares were issued in Amedeo’s July 2016 placing. They have permission to issue 259,750,000 more new shares under their placing programme. Based on a USD/GBP exchange rate of 1.2402:1 as at the date of the Circular, and assuming an issue price of 104p, they anticipate targeting a raise of approximately £130m. Following the completion of the proposed placing, they’ll enter into financing arrangements with lenders to fund the balance of the acquisition costs of each new plane.
Since its successful initial public offering in May 2015 at 100 pence per Share, the company has bought six Airbus A380-800 and two Boeing 777-300ER aircraft, each of which has been leased to Emirates Airlines for a term of 12 years. They have paid dividends at the target rate of 2.0625p per quarter each quarter since July 2015 (amounting to an annual income distribution of 8.25 pence per share). Since launch, therefore, investors have received 12.375 pence per share in dividend payments and have seen an increase in the market price of the shares from the initial issue price of 100 pence per share in May 2015 to 104 pence per share as at 15 November 2016.
AA4 : Amedeo buying A380s for Etihad