This announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 which forms part of domestic law in
the United Kingdom pursuant to The European Union Withdrawal Act
2018, as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019.
28 March 2024
DORIC NIMROD AIR THREE
LIMITED
ASSET UPDATE:
REDELIVERY CONDITION SIDE LETTER
Overview
Doric Nimrod Air Three Limited (LSE:DNA3, LEI:
213800BMYMCBKT5W8M49) (the "Company") is a Guernsey domiciled
company with shares admitted to trading on the Specialist Fund
Segment of the London Stock Exchange's Main Market.
MSN133
Redelivery Condition Side Letter
The Company, via its wholly owned subsidiary
DNA Alpha Limited (the "Subsidiary") has received notice from
Emirates that it is exercising the option to enable it to redeliver
the Airbus A380-861 aircraft bearing manufacturer's serial number
133 (registration A6-EEL, the "Aircraft") in the minimum condition
equivalent to "half-life" together with a cash sum, as opposed to
delivery in full-life condition. In the event the Aircraft is
returned to the Subsidiary, Emirates will pay the sum of USD
12,000,000 to the Subsidiary, in addition to the normal monetary
compensation arrangements, on or prior to the lease expiry date.
The lease expiry date for the Aircraft, bearing manufacturer's
serial number 133 (registration A6-EEL), is 27 November
2025.
The Board notes that the above does not
preclude the Company from considering lease extension, sale or
re-lease options for the Aircraft with Emirates or other
counterparties.
This announcement has been released by JTC Fund
Solutions (Guernsey) Limited, Company Secretary on behalf of the
Company.
For further information, please
contact:
For administrative and company
information:
JTC Fund Solutions (Guernsey)
Limited
+44 (0) 1481 702400
For shareholder
information:
Nimrod Capital LLP
+44 (0) 20 7382 4565
END OF ANNOUNCEMENT
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