Doric Nimrod Air Three Limited MSN 134 REDELIVERY CONDITION

RNS Number : 0424H

Doric Nimrod Air Three Limited

15 March 2024

 

This announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 which forms part of domestic law in the United Kingdom pursuant to The European Union Withdrawal Act 2018, as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019.

 

15 March 2024

 

DORIC NIMROD AIR THREE LIMITED

 

ASSET UPDATE: REDELIVERY CONDITION SIDE LETTER

 

Overview

Doric Nimrod Air Three Limited (LSE:DNA3, LEI: 213800BMYMCBKT5W8M49) (the "Company") is a Guernsey domiciled company with shares admitted to trading on the Specialist Fund Segment of the London Stock Exchange's Main Market.

 

MSN134 Redelivery Condition Side Letter

The Company, via its wholly owned subsidiary DNA Alpha Limited (the "Subsidiary") has received notice from Emirates that it is exercising the option to enable it to redeliver the Airbus A380-861 aircraft bearing manufacturer's serial number 134 (registration A6-EEM, the "Aircraft") in the minimum condition equivalent to "half-life" together with a cash sum, as opposed to delivery in full-life condition. In the event the Aircraft is returned to the Subsidiary, Emirates will pay the sum of USD 12,000,000 to the Subsidiary, in addition to the normal monetary compensation arrangements, on or prior to the lease expiry date. The lease expiry date for the Aircraft, bearing manufacturer's serial number 134 (registration A6-EEM), is 14 November 2025.

 

The Board notes that the above does not preclude the Company from considering lease extension, sale or re-lease options for the Aircraft with Emirates or other counterparties.

 

This announcement has been released by JTC Fund Solutions (Guernsey) Limited, Company Secretary on behalf of the Company.

 

For further information, please contact:

 

For administrative and company information:

 

JTC Fund Solutions (Guernsey) Limited

[phone]

 

For shareholder information:

 

Nimrod Capital LLP

[phone]

 

 

END OF ANNOUNCEMENT

 

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