Share Name Share Symbol Market Type Share ISIN Share Description
Amedeo Air Four Plus Limited LSE:AA4 London Ordinary Share GG00BMZQ5R81 RED ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  -0.10 -0.32% 30.90 35,631 14:19:06
Bid Price Offer Price High Price Low Price Open Price
30.00 31.80 31.00 30.90 31.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 201.37 -172.06 -32.17 107
Last Trade Time Trade Type Trade Size Trade Price Currency
16:07:30 O 10,000 30.36 GBX

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Date Time Title Posts
17/4/202010:37Distributions 6

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Amedeo Air Four Plus Daily Update: Amedeo Air Four Plus Limited is listed in the Industrial Transportation sector of the London Stock Exchange with ticker AA4. The last closing price for Amedeo Air Four Plus was 31p.
Amedeo Air Four Plus Limited has a 4 week average price of 28.50p and a 12 week average price of 23p.
The 1 year high share price is 34.50p while the 1 year low share price is currently 22.20p.
There are currently 347,313,483 shares in issue and the average daily traded volume is 114,683 shares. The market capitalisation of Amedeo Air Four Plus Limited is £107,319,866.25.
fram7: Hi, am I right saying that that Amedeo expected dividend is around 16% per year? 1.25 p every quarter, 5p a year at 31 p per share? I believe this is a very appealing dividend when compared to the limited alternatives in the market? Regards, F
davebowler: Liberum; Lease agreement and debt restructure agreed on Thai Airways aircraft Mkt Cap £119m | Share price 27.5p | Prem/(disc) -61.7% | Div yield n/a Event Amedeo Air Four Plus has finalised lease restructurings with Thai Airways. Under the restructured leases, Thai Airways will pay rent on a power by the hour basis until December 2022. From January 2023, the leases will switch to fixed monthly payments (amount not disclosed). Under the terms of the restructured debt facilities, any surplus rent in excess of debt service and agreed cost contributions to AA4 will be used for principal amortisation. Three of the four aircraft leased to Thai Airways have been operated in commercial service. The final aircraft is due to re-enter commercial service in the coming days. Some rent has been received under the power by the hour arrangement. Liberum view There is no indication on the level of the fixed monthly payments compared to the prior lease. We believe the reduction in the monthly rental is likely to be approximately 40%. Data from Ishka indicates that market lease rates for A350s have fallen by approximately 30% since January 2020. The lease restructuring had been expected given the recent decision to return £30m to shareholders. The board had previously created a contingency reserve to cover 18 months interest and the cost of repossession, storage and remarketing of the A350 aircraft leased to Thai, in the event they were returned by the airline. The focus now turns to what the reinstated dividend payout will be and an announcement is expected shortly. We previously estimated the dividend would be slightly less than the most recent dividend of 1.15p (based on the number of shares prior to the capital distribution), as we expect the board will seek to ensure that the dividend is reinstated at a sustainable level. A dividend of 1.25p (equivalent to 1p per share on the number of share prior to the distribution) would equate to an annualised dividend yield of 18.2%. Real Estate
my retirement fund: So after capital return, based on last nights closing price it could be left yielding something like 15% PA
davebowler: Liberum; £30m capital return and intention to reinstate dividend Mkt Cap £100m | Share price 23.0p | Prem/(disc) -68.0% | Div yield n/a Event Amedeo Air Four Plus will return £30m to shareholders by way of a compulsory redemption and also intends to reinstate a regular quarterly dividend (first payment to be made in Q1 2022). The board has also reported that lease restructurings with Thai Airways are proceeding satisfactorily and will issue an update when the restructurings are finalised. The £30m compulsory redemption is equivalent to 6.9p per share. 86.8m shares will be redeemed at a price of 34.55p per share. The proceeds represents the remaining undistributed capital that was received from the sale of the Etihad aircraft in February 2020 (£98.5m was returned in September 2020). The capital had been retained in order to provide additional flexibility. Liberum view The capital return and dividend reinstatement is an excellent result for shareholders. The restructuring with Thai Airways and the lenders hasn't completed yet, but we don't believe the capital would have been returned unless the board was virtually certain that a deal would be concluded. The board had previously created a contingency reserve to cover 18 months interest and the cost of repossession, storage and remarketing of the A350 aircraft leased to Thai, in the event they were returned by the airline. The key question now will be the quantum of the quarterly dividend. That will partly depend on agreements that are reached with Thai Airways on lease payments and the restructuring of the debt service schedule with the lenders. The expectation is that the lease will be amended to a power by the hour arrangement for a period of time before moving to a fixed rate lease. There is unlikely to be any excess income coming back to TopCo after debt service payments from the SPVs owning Thai assets. The dividend is likely to be lower than the most recent ad-hoc dividend payment of 1.15p (Q1 2021) as we expect the board will seek to ensure that the dividend is reinstated at a sustainable level.
fram7: Let's be positive, the current price is a default price. I am not saying that investor will get 24p per share in case of default, may be it will be even less but there is definitely more upside than downside. In the absence of news the share can only stay where they are. The management team of Amedeo is experienced and pretty good. Clearly they cannot do miracles at present but things might change fast and against common thinking. No analyst predicted oil over $80.......I trust that the A380, although is not the plane of the future, is still a valuable and modern machine and if demand will pick up like in other sectors the A380 could become valuable. Let's hope that the Thai airlines matter will be solved soon.
nicholasblake: https://www.londonstockexchange.com/news-article/AA4/annual-financial-report/15072126
fram7: price not moving so I would not worry
nicholasblake: https://www.londonstockexchange.com/news-article/AA4/holding-s-in-company/15068097
davebowler: AA4 has released its Annual Financial Report for 2019 following its Q2 fact sheet last week.  AA4's shares went ex-dividend today with monies payable by the end of July.  The Company continues to deliver upon its investment objectives and, at a current share of roughly 90p*, offers sterling running yield of over 9% via quarterly dividends from owning and leasing widebody aircraft to flag carrier airlines (Emirates, Etihad and Thai).  Subsequent to the share price movements following the announcement from Airbus of the cessation of the A380 programme the company's share price is implying a significant discount to the latest average appraisal values (totalling some 154.2p per share as a potential future return of capital based on the Company Q2 fact sheet – see table and its related footnotes below) with outstanding targeted dividends remaining of roughly 9 years, on average, for AA4 totalling 73.6p.  See below tables for current running yield, performance, and implied future total returns based on the average appraisal values.*18-Jul-19The Chairman's statement highlights that the key development during the period was the announcement on 14 February 2019 that Airbus will close production of the A380 in 2021. But notes: "The announcement by Airbus has no direct impact on the Company's leases nor its ability to pay targeted distributions. The Company's first lease expiry does not fall due until 2026. While the A380 forms approximately two-thirds of the Group's portfolio by appraised value, the portfolio is complemented and diversified by two additional aircraft models, namely the B777-300ER and A350-900."The Asset Managers Report contained in the Q2 2019 AA4 fact sheet published on 5 July (and outlined in our last communication on 8 July) provides commentary and updated appraisal valuation information for each of the aircraft models owned by the Company.Further, the Boards of the subsidiaries of AA4 have seen fit to re-designate their functional currency to US Dollars from 1 April 2018 and the subsequent accounting for the year ended 31 March 2019.   In the view of the Boards this is reflective of the most recent economic environment of these subsidiaries, as much of their rental income and sources of financing are primarily US Dollar based. This is the first year that the Thai planes which pay all their income in US dollars are all included.As ever, if you have any further questions or would like to request an update meeting or to schedule a meeting with the Chairman/Directors please contact Chris Holland at Nimrod Capital.Company Returns (GBP):      Fund Launch Date 13-May-15         AA4+       Dividends 35.06%  Capital Gain -10.00%  Total Return1 25.86%  Annualised Total Return1 5.65%       FTSE All-Share Annualised Total Return1 5.99%      Source: Bloomberg, 18-Jul-19 1Since inception, dividends reinvested       Current Metrics & Implied Future Total Returns (based on latest Mar-19 appraisals):        AA4+       Market Cap £578m  Yield 9.2%  Share Price 90p       Targeted Distributions 73.6p  Return of Capital* 154.2p  Total Return 227.8p      Source: Bloomberg, 18-Jul-19 & Company Q2 '19 fact sheet, adjusted for XD amount of 2.0625p on 18-Jul-19 *Please review the associated disclaimers and assumptions contained within the respective DNA/AA4 fact sheets when considering this information.      The Annual Report has been released on RNS and will also shortly be available at:http://www.aa4plus.comNimrod Capital LLP ('Nimrod') is not a broker, it does not trade with any counterparties, it does not produce investment research nor does it have any paid for research agreements with any counterparties.  This communication does not constitute "research" as defined by the Financial Conduct Authority Handbook and may be assessed as a minor non-monetary benefit.Kind RegardsMarc GordonPartnerDDI: + 44 207 382 4560 |Mob: + 44 7785 297620 |Tel: + 44 207 382 4565 |Fax: +44 207 628 7548Nimrod Capital LLP, 3 St Helen's Place, London EC3A 6ABwww.nimrodcapital.com_________________________________________________________________________________________________________Nimrod Capital LLP – a limited liability partnership registered in England and Wales.  Registration number – OC335533.  Registered office address – 69/85 Tabernacle Street, 2ndFloor, London EC2A 4RR.  This e-mail is sent in confidence.  The contents are not to be disclosed to anyone other than the addressee.  E-mail communications are not secure and therefore Nimrod Capital LLP does not accept legal responsibility for the contents of this message.  Any views or opinions presented are solely those of the author and do not necessarily represent those of Nimrod Capital LLP unless otherwise specifically stated.  This e-mail and any attachment are confidential and contain proprietary information, some of which may be legally privileged.  It is intended solely for the use of the individual or entity to which it is addressed.  If you are not the intended recipient, please notify the author immediately by telephone or by replying to this e-mail, and then delete all copies of the e-mail on your system.  If you are not the intended recipient, you must not use, disclose, distribute, copy, print or rely on this e-mail.Whilst we have taken reasonable precautions to ensure that this e-mail and any attachment has been checked for viruses, we cannot guarantee that they are virus free and we cannot accept liability for any damage sustained as a result of software viruses.  We would advise that you carry out your own virus checks, especially before opening an attachment.Nimrod Capital LLP is a data controller with respect to your personal data for the purpose of the General Data Protection Regulation.  By proceeding to use our service you consent that we may process the personal data (including sensitive personal data) that we collect from you in accordance with our Privacy Policyhttp://www.nimrodcapital.com/?page_id=1541.  This includes the recording of telephone calls made to telephone numbers registered to the Company.We hold your contact details because we have previously provided you with products or services and we believe you may wish to hear from us about similar products or services.  If you do not want to receive any further communications from us, please unsubscribe by contacting the following email address:info@nimrodcapital.com.Nimrod Capital LLP is authorised and regulated by the Financial Conduct Authority. 
joan of arc: Why would Amedeo still have an outstanding order for 20 A380s when demand is falling away so rapidly. If I recall correctly Emirates reduced their order recently. Surely this cannot be good for the long term prospects for the AA4 share price
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