DORIC NIMROD AIR TWO LIMITED 
By
Doric Nimrod Air Two Limited (the "Company") announces that on 31 January 2013 all Airbus A380 aircraft proposed to be acquired pursuant to the issue of Convertible Preference Shares (SEDOL: B5SMNN6, ISIN: GG00B7MBJP78) (the "C Shares") had been acquired and leased to Emirates Airlines. Therefore all net assets attributable to the C Shares have been invested in accordance with the Company's investment policy as set out in the Company's Prospectus dated 12 March 2012 (the "Prospectus") and the directors have resolved that the Calculation Time in respect of the conversion of C shares is 31 January 2013.
The Conversion Ratio on the basis of the net asset values attributable to the Company's Ordinary Preference Shares (SEDOL: B3Z6252, ISIN: GG00B3Z62522) (the "Ordinary Shares") and attributable to the C Shares as calculated in accordance with the Articles as at 31 January 2013, was as follows:
One Ordinary Share will be received for every one C Share.
Pursuant to the aforementioned Conversion applications will be made in connection with the admission of 100,250,000 Ordinary Shares to trading on the Specialist Fund Market of the London Stock Exchange and to listing on the Official List of the Channel Islands Stock Exchange. It is expected that such admissions will be effective and that dealings in the new Ordinary Shares will commence on 6 March 2013.
The C Shares will be permanently removed from trading on the Specialist Fund Market of the London Stock Exchange and from listing on the Official List of the Channel Islands Stock Exchange with effect from the opening of trading on 6 March 2013.
Accordingly, the Company's issued share capital with effect from 6 March 2013 will be 172,750,000
Ordinary Shares. The new Ordinary Shares arising on conversion will rank pari passu with, and will have the same right as, the existing Ordinary Shares already in issue and accordingly this figure may be used by shareholders as the denominator for the calculations by which they will determine if they require to notify their interest in or a change to their interest in the Company under the FSA's disclosure and transparency rules.
The ISIN and SEDOL for the Ordinary Shares will remain the same after conversion and the new
Ordinary Shares will have the same ISIN and SEDOL as the existing Ordinary Shares.
Post conversion the Company will continue to target a distribution equivalent to the pre conversion distribution of 4.5 pence per Ordinary Share per quarter.
Further details of Conversion and the rights attaching to the C Shares and Ordinary Shares are set out in the Prospectus and defined terms used herein and not otherwise defined shall have the meaning given to them in the Prospectus.
The expected timetable for Conversion is as follows:
Record date for Conversion and C Share register closes | 5.00 p.m. on 5 March 2013 |
Conversion Time and dealings in new Ordinary Shares commence on SFM and CISX | 8.00 a.m. on 6 March 2013 |
CREST accounts credited with new Ordinary Shares in uncertificated form | 6 March 2013 |
Share certificates in respect of new Ordinary Shares in certificated form dispatched | Week commencing 11 March 2013 |
Doric Nimrod Air Two Limited
Anson Place, Mill Court,
La Charroterie, St Peter Port, Guernsey GY1 1EJ
Tel: +44 (0) 1481 722260
Website: www.dnairtwo.com
Corporate & Shareholder AdvisorNimrod Capital LLP
3 St. Helen's Place
London EC3A 6AB
Tel: +44 (0) 20 3355 6855
Website: www.nimrodcapital.com
END OF ANNOUNCEMENT
E&OE- in transmission.
|
distributed by
|
