Gama Aviation PLC Maturing Credit Facility Repaid (8908N)
January 26 2023 - 2:00AM
UK Regulatory
TIDMGMAA
RNS Number : 8908N
Gama Aviation PLC
26 January 2023
Date: 26(th) January 2023
The information contained within this announcement is deemed to
constitute inside information as stipulated under Article 7 of the
Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK
domestic law by virtue of the European Union (Withdrawal) Act
2018.
Gama Aviation Plc (AIM: GMAA)
("Gama Aviation" or the "Company" or "Group")
Maturing Credit Facility Repaid
Gama Aviation is pleased to announce that it has repaid the
Company's GBP20m HSBC Term Loan Facility ("the Term Loan") and to
provide an update on additional funding, liquidity and net bank
debt.
Maturing Credit Facility
The Term Loan, which was due to mature on 31(st) January 2023,
has now been repaid in full. Consequently, all the Group's
obligations in respect of the Term Loan have been fully discharged
and the associated securities are in the process of being released.
The repayment, made on 25(th) January 2023, was funded by a
combination of the c$10m proceeds of the Group's new US credit
facilities announced on 30(th) December 2022, proactive management
of working capital and cash at hand.
Additional Funding
Since the last update, significant progress has been made in
negotiations with other lenders to secure the additional funding
required to execute the Group's near-term organic growth strategy,
and an update will be provided once terms are finalised.
Liquidity and Net Bank Debt
As at 25(th) January 2023, and following the repayment of the
Term Loan, the Group held cash balances totalling $10.4m and net
bank debt stood at $1.9m.
END
Gama Aviation Plc +44 (0) 1252 553 029
Marwan Khalek, CEO
Michael Williamson, CFO
Camarco +44 (0) 20 3757 4992
Ginny Pulbrook
Geoffrey Pelham-Lane
WH Ireland +44 (0) 207 220 1666
James Joyce
Sarah Mather
Gama Aviation - Notes to Editors
Founded in 1983 with the simple purpose of providing aviation
services that equip its customers with decisive advantage, Gama
Aviation Plc (LSE AIM: GMAA) is a highly valued global partner to
blue chip corporations, government agencies, healthcare trusts and
private individuals.
The Group has three global divisions: Business Aviation
(Aircraft Management, Charter, FBO & Maintenance), Special
Mission (Air Ambulance & Rescue, National Security &
Policing, Infrastructure & Survey, Energy & Offshore); and
Technology & Outsourcing (Flight Operations, FBO, CAM software,
Flight Planning, CAM & ARC services)
More details can be found at: http://www.gamaaviation.com/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCPPUPCGUPWGRA
(END) Dow Jones Newswires
January 26, 2023 02:00 ET (07:00 GMT)
Gama Aviation (AQSE:GMAA.GB)
Historical Stock Chart
From Jun 2024 to Jul 2024
Gama Aviation (AQSE:GMAA.GB)
Historical Stock Chart
From Jul 2023 to Jul 2024