CONTENTS
Summary
Fact Sheet
Highlights
Chairman's Statement
Asset Manager's Report
Directors
Statement of Principal Risks and Uncertainties
Statement of Directors' Responsibilities
Independent Review Report to DP Aircraft I Limited
Condensed Consolidated Statement of Comprehensive Income
Condensed Consolidated Statement of Financial Position
Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Changes in Equity
Notes to the Unaudited Condensed Consolidated Financial Statements
36 Company Information
COMPANY OVERVIEWDP Aircraft I Limited (the 'Company') was incorporated with limited liability in Guernsey under the Companies (Guernsey) Law, 2008 on 5 July 2013 with registered number 56941.
The Company was established to invest in aircraft. The Company is a holding company, and makes its investment in aircraft through four wholly owned subsidiary entities, DP Aircraft Guernsey I Limited, DP Aircraft Guernsey II Limited, DP Aircraft Guernsey III Limited and DP Aircraft Guernsey IV Limited (collectively and hereinafter, the 'Borrowers'), each being a Guernsey incorporated company limited by shares and two intermediate lessor companies, DP Aircraft Ireland Limited and DP Aircraft UK Limited (the 'Lessors'), an Irish incorporated private limited company and a UK incorporated private limited company respectively. The Company and its subsidiaries (the Borrowers and the Lessors) comprise the Group (the 'Group').
Pursuant to the Company's Prospectus dated 27 September 2013, the Company offered 113,000,000 Ordinary Shares of no par value in the capital of the Company at an issue price of US$ 1.00 per Share by means of a Placing. The Company's Shares were admitted to trading on the Specialist Fund Segment of the London Stock Exchange on 4 October 2013.
On 5 June 2015, the Company offered 96,333,333 Ordinary Shares of no par value in the capital of the Company at an issue price of US$ 1.0589 per Share by means of a Placing. These Shares were admitted to trading on the Specialist Fund Segment of the London Stock Exchange on 12 June 2015.
In total there are 209,333,333 Ordinary Shares in issue with voting rights.
INVESTMENT OBJECTIVEThe Company's investment objective is to obtain income and capital returns for its Shareholders by acquiring, leasing and then, when the Board considers it appropriate, selling aircraft (the 'Asset' or 'Assets').
THE BOARDThe Board comprises independent non-executive directors. The directors of the Board are responsible for managing the business affairs of the Company in accordance with the Articles of Incorporation and have overall responsibility for the Company's activities, including portfolio and risk management while the asset management of the Group is undertaken by DS Aviation GmbH & Co. KG (the 'Asset Manager').
THE ASSET MANAGERThe Asset Manager has undertaken to provide the asset management services to the Company under the terms of an asset management agreement but does not undertake any regulated activities for the purpose of the UK Financial Services and Markets Act 2000.
BREXITThe decision of the UK to withdraw from the EU is not expected to have a significant impact on the Company given the nature of its operations. However, monitoring of the airline industry and any impact on the Company as the process for leaving the EU progresses will be carried out on an ongoing basis.
DISTRIBUTION POLICYThe Company aims to provide Shareholders with an attractive total return comprising income, from distributions through the period of the Company's ownership of the Assets, and capital, upon any sale of the Assets. The Company targets a quarterly distribution in February, May, August and November of each year. The target distribution is US$ 0.0225 per share per quarter. Two quarterly dividends have been paid during the period ended 30 June 2017 and one has been paid subsequent to the period end, each meeting the US$ 0.0225 per share target. The target dividends are targets only and should not be treated as an assurance or guarantee of performance or a profit forecast. Investors should not place any reliance on such target dividends or assume that the Company will make any distributions at all.
FACT SHEET Ticker DPA Company Number 56941 ISIN Number GG00BBP6HP33 SEDOL Number BBP6HP3 Traded Specialist Fund Segment ('SFS') of the London Stock Exchange SFS Admission Date 4-Oct-13 Share Price US$ 1.10 at 30 June 2017 Earnings per share US$ 0.0461 for the period ended 30 June 2017 Country of Incorporation Guernsey Current Shares in Issue 209,333,333 Administrator and Company Secretary Aztec Financial Services (Guernsey) Limited Asset Manager DS Aviation GmbH & Co. KGAuditor and Reporting Accountant KPMG, Chartered AccountantsCorporate Broker Canaccord Genuity Limited Aircraft Registrations LN-LNA LN-LNB HS-TQD HS-TQC Aircraft Serial Numbers 35304 3530535320
36110
Aircraft Type and Model Boeing 787-8 Lessees Norwegian Air Shuttle ASA ('Norwegian' or 'NAS')Thai Airways International Public Company Limited ('Thai Airways')
Website www.dpaircraft.comDp Aircraft I Ltd. published this content on 22 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 August 2017 13:17:07 UTC.
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