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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gama Aviation Plc | AQSE:GMAA.GB | Aquis Stock Exchange | Ordinary Share | GB00B3ZP1526 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 95.00 | 90.00 | 100.00 | 95.00 | 95.00 | 95.00 | 0.00 | 06:56:49 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMGMAA
RNS Number : 8908N
Gama Aviation PLC
26 January 2023
Date: 26(th) January 2023
The information contained within this announcement is deemed to constitute inside information as stipulated under Article 7 of the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018.
Gama Aviation Plc (AIM: GMAA)
("Gama Aviation" or the "Company" or "Group")
Maturing Credit Facility Repaid
Gama Aviation is pleased to announce that it has repaid the Company's GBP20m HSBC Term Loan Facility ("the Term Loan") and to provide an update on additional funding, liquidity and net bank debt.
Maturing Credit Facility
The Term Loan, which was due to mature on 31(st) January 2023, has now been repaid in full. Consequently, all the Group's obligations in respect of the Term Loan have been fully discharged and the associated securities are in the process of being released. The repayment, made on 25(th) January 2023, was funded by a combination of the c$10m proceeds of the Group's new US credit facilities announced on 30(th) December 2022, proactive management of working capital and cash at hand.
Additional Funding
Since the last update, significant progress has been made in negotiations with other lenders to secure the additional funding required to execute the Group's near-term organic growth strategy, and an update will be provided once terms are finalised.
Liquidity and Net Bank Debt
As at 25(th) January 2023, and following the repayment of the Term Loan, the Group held cash balances totalling $10.4m and net bank debt stood at $1.9m.
END
Gama Aviation Plc +44 (0) 1252 553 029
Marwan Khalek, CEO
Michael Williamson, CFO
Camarco +44 (0) 20 3757 4992
Ginny Pulbrook
Geoffrey Pelham-Lane
WH Ireland +44 (0) 207 220 1666
James Joyce
Sarah Mather
Gama Aviation - Notes to Editors
Founded in 1983 with the simple purpose of providing aviation services that equip its customers with decisive advantage, Gama Aviation Plc (LSE AIM: GMAA) is a highly valued global partner to blue chip corporations, government agencies, healthcare trusts and private individuals.
The Group has three global divisions: Business Aviation (Aircraft Management, Charter, FBO & Maintenance), Special Mission (Air Ambulance & Rescue, National Security & Policing, Infrastructure & Survey, Energy & Offshore); and Technology & Outsourcing (Flight Operations, FBO, CAM software, Flight Planning, CAM & ARC services)
More details can be found at: http://www.gamaaviation.com/
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END
MSCPPUPCGUPWGRA
(END) Dow Jones Newswires
January 26, 2023 02:00 ET (07:00 GMT)
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