The Board of Gama Aviation Plc (AIM:GMAA) is aware of industry market speculation and confirms that it is in discussions to acquire the business of Specialist Aviation Services Limited ("Specialist"). The interest in Specialist is consistent with the Group's strategy to grow its Special Mission business. The discussions between the Group, Specialist and other key stakeholders are well advanced and are expected to be concluded within the next few weeks, but they remain subject to further negotiations, diligence, and Board approval.

Accordingly, there can be no certainty any transaction will be completed and, if it does, on what terms such a transaction might take place.