The information contained within this announcement is deemed to constitute inside information as stipulated under retained EU law version of the Market Abuse Regulations (EU No. 596/2014) (the "UK MAR"), which is part of UK law by virtue of the European Union (withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For immediate release
20 April 2022
DORIC NIMROD AIR TWO LIMITED
(the "Company")
ASSET UPDATE: MSN090 REDELIVERY CONDITION SIDE LETTER
Overview
Doric Nimrod Air Two Limited (LSE:DNA2, LEI: 213800ENH57LLS7MEM48) (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.
Redelivery Condition Side Letter
The Company, via its wholly owned subsidiary, MSN090 Limited (the "Subsidiary") has received notice from Emirates that the lessee is exercising the option to enable it to redeliver the Airbus A380-800 aircraft bearing manufacturer's serial number 090 (the "Aircraft") (registration A6-EDT) 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 lessor, Emirates will pay the sum of USD 12,000,000 to the Company's Subsidiary, in addition to the normal monetary compensation arrangements, on or prior to the lease expiry date. The lease expiry date for the Aircraft is 2 December 2023.
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
+44 (0) 1481 702400
For shareholder information:
Nimrod Capital LLP
+44 (0) 20 7382 4565
END OF ANNOUNCEMENT
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