CAPITAL LEASE AVIATION PLC RNS: CLA
Capital Lease Aviation PLC (CLA: AIM), the commercial passenger aircraft leasing company advises that it entered into a service agreement with Avation PLC, a substantial shareholder in the Company for Avation to provide certain administrative and aircraft lease management services.
As a result of the level of the recharges in relation to it, the service agreement has been deemed to be a related party transaction under the Aim Rules for Companies as Avation is a substantial shareholder in the Company.
With the exception of Jeff Chatfield and Richard Wolanski who are directors of Avation, the directors of the Company, consider, having consulted with the Company's nominated adviser, WH Ireland, that the terms of the transaction are fair and reasonable in so far as the shareholders are concerned.
-‐ENDS-‐
Enquiries:
The Company - Jeff Chatfield Chairman +65 6252 2077
WH Ireland - James Joyce / James Bavister +44 20 7220 1666
Blytheweigh - Tim Blythe / Wendy Haowei +44 20 7138 3204
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