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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Silverjet | LSE:SIL | London | Ordinary Share | GB00B1443S31 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 5656V Silverjet PLC 29 May 2008 29 May 2008 Silverjet plc Extraordinary General Meeting On 6 May 2008 the Directors of Silverjet convened an extraordinary general meeting (the "EGM") of the Company to take place at 10.00am on 30 May 2008 to authorise the allotment of shares to Viceroy Holdings LLC ("Viceroy") in accordance with the Subscription Agreement entered into on 2 May 2008. Silverjet announced on 23 May 2008 that it had not received the full drawdown requested from Viceroy under the £8.4 million loan facility agreement entered into with Silverjet Aviation Limited on 2 May 2008. In view of this fundamental breach of the loan facility agreement, which is continuing, the Directors of Silverjet have decided to change their recommendation to vote in favour of the resolutions to authorise the allotment of shares to Viceroy and therefore urge any shareholders attending the EGM on 30 May 2008 to vote against the resolutions proposed in the notice of EGM dated 6 May 2008. In the event the resolutions are passed at the EGM, the Directors of Silverjet do not intend to use their authority to allot the shares to Viceroy granted pursuant to the resolutions. In any event, Silverjet requires the consent of the CAA and TFB (Mortgages) Ltd for the Subscription Agreement to become unconditional and permit the allotment of the shares to Viceroy. Silverjet has received no such consent from either CAA or TFB (Mortgages) Ltd to date and in the light of the fundamental breach of the loan facility agreement do not believe any such consent would be forthcoming. Discussions are continuing with a potential investor to provide the necessary finance to enable Silverjet to continue operating. In the meantime, trading in the ordinary shares of Silverjet will continue to be suspended. Silverjet's services continue to operate as scheduled. For further information, please contact: Silverjet 020 7357 9477 Lawrence Hunt, Chief Executive Hogarth Partnership Limited 020 7357 9477 Fiona Noblet Sarah Richardson Arden Partners 020 7398 1638 Chris Fielding Tom Fyson Notes to Editors * Silverjet offers 6 foot 3 inch long inclined flat beds, high quality catering, personalised entertainment and reduced check-in times (30 minutes with only carry-on baggage) from London Luton to New York Newark and Dubai. * Incline flat bed at one third of the market price - £1,099 standard return fare compared with over £3,000 from competitors. * Daily London Luton to New York Newark flights (local time): * Departs LTN at 10.00 arrives 13.00 * Departs LTN at 18.00 arrives 21.00 * Departs EWR at 19.30 arrives 07.40 * Departs EWR at 22.30 arrives 10.40 * Daily flights London Luton to Dubai (local time): * Departs LTN at 21.55 arrives 08.30 * Departs DXB at 10.30 arrives 15.45 * The Silver Lounge is a private terminal at London Luton Airport, opposite the main terminal building, with dedicated security enabling customers with only carry-on baggage to arrive 30 minutes before departure (45 minutes for customers with baggage to check in). At New York Newark Airport, the unique Silver Lounge offering exclusive check in and lounge facilities is separate from the main terminal areas. Silverjet flies into Dubai's executive terminal. * Silverjet is the winner of the Sunday Times Award for Best Airline 2007, two Conde Nast Traveller Awards in 2007, one for Favourite Business Class Only Airline and one for Design and Innovation and Best Airline Website 2007 awarded by Travolution. This information is provided by RNS The company news service from the London Stock Exchange END MSCFKCKPABKDPPB
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