RNS: AVAP
RNS: CLA
22 September 2014
AVATION PLC
(the "Company" or "Avation")
PURCHASE OF MINORITY HOLDING IN CAPITAL LEASE AVIATION PLC
Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, has agreed to acquire 21,065,334 ordinary shares in aircraft lessor Capital Lease Aviation PLC (AIM: CLA) at a price of 20.5 pence per share in cash, increasing its holding of voting rights in CLA's issued share capital to 90.59% (disregarding the shares CLA holds in treasury).
The transaction has been entered into with the second largest shareholder in CLA after the Company itself and is expected to complete on or before 18 November 2014.
Executive Chairman of the Company, Jeff Chatfield, commented by saying, "This further consolidates Avation's holding in CLA. The transaction is net asset accretive. Avation has been growing its asset base and recently announced a broadening of its business activities with new aircraft lessees in Europe and Asia."
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More information on Avation PLC can be seen at: www.avation.net
Avation PLC |
Jeff Chatfield, Executive Chairman |
+65 6252 2077 |
WH Ireland |
Harry Ansell / James Joyce |
+44 207 220 1666 |
Cenkos |
Guy Briselden |
+44 207 397 8900 |
Blytheweigh |
Tim Blythe / Eleanor Parry |
+44 207 138 3204 |
