Air Partner PLC Proposed share split and notice of general meeting (4679T)

TIDMAIR

RNS Number : 4679T

Air Partner PLC

06 January 2017

6 January 2017

Air Partner plc

Proposed 1 into 5 share split and notice of general meeting

Air Partner plc (the "Company") announces that the Company is today sending a circular (the "Circular") to shareholders that describes a proposed share split and contains a notice of general meeting at which a resolution will be proposed to approve a share split.

The Board of directors believes that the Company's share price has risen to a point where it is appropriate to recommend that each existing ordinary share of five pence be split into five new ordinary shares of one penny each. The Board believes that this split will improve the liquidity of the market in the Company's shares, reduce the percentage spread between the bid and offer prices and increase the attractiveness of the Company's shares to potential investors. A long term aim of the Board is to attract and retain a diverse shareholder base with an appropriate balance between retail and institutional investors for a public company listed on the premium segment of the London Stock Exchange.

A copy of the Circular will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM and on the Company's website www.airpartner.com

The expected timetable of events and key statistics are set out below.

Expected timetable

 
                                                          2017 
Latest time for receipt of proxy          9.00 am on Monday 23 
 forms for the general meeting                         January 
Latest time for electronic appointment    9.00 am on Monday 23 
 of proxies for the general meeting                    January 
General meeting                           9.00 am on Wednesday 
                                                    25 January 
Close of dealings in existing              4.30 pm on Thursday 
 shares                                             26 January 
Record date for share split                6.00 pm on Thursday 
                                                    26 January 
Split becomes effective                   8.00 am on Friday 27 
                                                       January 
New shares credited to CREST              8.00 am on Friday 27 
 accounts                                              January 
Commencement for dealings in              8.00 am on Friday 27 
 new shares                                            January 
Certificates for new shares                     by 10 February 
 despatched 
 

Information on shares

 
Existing ordinary shares of five pence 
 each 
 Total number in issue at close of business 
 on 4 January 2017                                10,443,513 
ISIN code                                       GB0000115302 
SEDOL code                                           0011530 
New ordinary shares of one penny each 
 Total number expected to be in issue 
 immediately after the split                      52,217,565 
ISIN code                                       GB00BD736828 
SEDOL code                                           BD73682 
 
 
 Enquiries: 
                                          01293 844 
 Air Partner                                    788 
 Neil Morris, CFO 
 
 Temple Bar Advisory (Financial PR 
  advisor)                            020 7002 1080 
                                          07789 998 
 Tom Allison                                    020 
                                          07876 222 
 Alycia MacAskill                               703 
 

About Air Partner:

Founded in 1961, Air Partner is a global aviation services group that provides worldwide solutions to industry, commerce, governments and private individuals. The Group has two divisions : (a) Broking division, comprising air charter broking and remarketing through the Air Partner and Cabot brands respectively; and (b) Consulting & Training division, via the aviation safety consultancy Baines Simmons. For reporting purposes, the Group is structured into four divisions: Commercial Jets, Private Jets, Freight (Broking) and Baines Simmons (Consultancy & Training). The Commercial Jet division charters large airliners to move groups of any size. Cabot Aviation, which is formed within the Commercial Jet division, provides comprehensive remarketing programmes for all types of commercial and corporate aircraft to a wide range of international clients. Private Jets offers the company's unique pre-paid JetCard scheme and on-demand charter. Air Partner Freight charters aircraft of every size to fly almost any cargo anywhere, at any time. Baines Simmons is a world leader in Aviation Safety Consulting which specialises in aviation regulation, compliance and safety management. Air Partner is headquartered alongside Gatwick airport in the UK. Air Partner operates 24/7 year-round and has 20 offices globally. Air Partner is listed on the London Stock Exchange (AIR) and is also ISO 9001:2008 compliant for commercial airline and private jet solutions worldwide. www.airpartner.com

This information is provided by RNS

The company news service from the London Stock Exchange

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January 06, 2017 02:00 ET (07:00 GMT)