Doric Nimrod Air Two Limited Update – Anticipated Redemption of Shares

RNS Number : 0173L

Doric Nimrod Air Two Limited

05 November 2024

 

5 November 2024

DORIC NIMROD AIR TWO LIMITED (the "Company")

(Legal Entity Identifier: 213800ENH57LLS7MEM48)

 

UPDATE - ANTICIPATED REDEMPTION OF SHARES

 

Further to the Company's announcement of 21 August 2024 (and subsequent sale update announcements of 2 October 2024 and 15 October 2024), sales of three of the remaining five Airbus A380-861 aircraft of the Company, manufacturer's serial numbers (MSNs) 105, 106 and 107, have completed as reported.

 

The Directors confirm the intention to distribute the sale proceeds to Shareholders together with any remaining cash holdings, net of any liquidation and other costs and assuming successful completion of the sales of MSNs 109 and 110 (the "Remaining Sales") as anticipated and no further unexpected costs or events, as soon as possible following the last Lease End Date and subject to the relevant solvency tests, laws and regulations.

 

The distribution is currently expected to be made at the end of January 2025 by way of a redemption of the Ordinary Preference Shares in the Company, to be effected at approximately 145 pence per share. This figure and the expected timing are based on current estimates and are subject to successful completion of the Remaining Sales, there being no additional unanticipated costs, and the Company satisfying all relevant solvency tests, laws and regulations. Further details will be announced in due course.

 

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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