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BOC AVIATION LIMITED
中 銀 航 空 租 賃 有 限 公 司*
(Incorporated in the Republic of Singapore with limited liability)
Stock Code: 2588
AMENDMENT TO PURCHASE AGREEMENT
The Board announces that BOC Aviation (Cayman) Limited, a wholly-owned subsidiary of the Company, entered into an agreement with Airbus to terminate its agreement to purchase 18 Airbus A320NEO family aircraft.
Reference is made to the Company's announcement dated 31 December 2019 in relation to a transaction (the "Transaction") involving (a) the purchase of 18 Airbus A320NEO family aircraft (the "Aircraft") from Airbus S.A.S. ("Airbus") and (b) the grant of an option to an airline (the "Airline") to either take the Aircraft on lease from the Company or to purchase the aircraft itself.
The Board of Directors (the "Board") of the Company announces that on 28 August 2020, BOC Aviation (Cayman) Limited, a wholly-owned subsidiary of the Company, entered into an agreement (the "Agreement") with Airbus to amend the Transaction by terminating its commitment to purchase the Aircraft, which the Airline has instead agreed to purchase from Airbus. This announcement is made pursuant to Listing Rule 14.36.
Parties to the Agreement
2.1 The Company
BOC Aviation Limited, which is a leading global aircraft operating leasing company with a fleet of 571 aircraft owned, managed or on order as at 30 June 2020.
For identification purpose only
- 1 -
Airbus S.A.S., a société par actions simplifiée duly created and existing under French law, the principal activity of which is aircraft manufacturing. To the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, Airbus and its ultimate beneficial owners are third parties independent of the Company and the connected persons of the Company.
3. Listing Rules Implications
The Board confirms that the Company is a listed issuer actively engaged in aircraft leasing with aircraft operators as a principal business in its ordinary and usual course of business and the Company is therefore a Qualified Aircraft Lessor (as defined in the Listing Rules).
The Board further confirms that (a) the Agreement is entered into in the Company's ordinary and usual course of business and on normal commercial terms, and (b) the terms of the Agreement are fair and reasonable and in the interests of the Company and its shareholders as a whole.
By Order of the Board
BOC Aviation Limited
Zhang Yanqiu Juliana
Hong Kong, 30 August 2020
As at the date of this announcement, the Board of Directors of the Company comprises Mr. Sun Yu as Chairman and Non-executive Director, Mdm. Zhang Xiaolu and Mr. Robert James Martin as Executive Directors, Mr. Li Mang, Mr. Liu Chenggang, Mr. Wang Zhiheng and Mdm. Zhu Lin as Non-executive Directors and Mr. Dai Deming, Mr. Fu Shula, Mr. Antony Nigel Tyler and Dr. Yeung Yin Bernard as Independent Non-executive Directors.
BOC Aviation Ltd. published this content on 30 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2020 10:04:00 UTC