Last checked at 4 Dec 2012 12:49
(AIM:CLA)
Capital Lease Aviation
("CLA" or "The Company")
Results of AGM, Operational Update and Directorship Change
RESULTS OF AGM
The Company is pleased to announce that all resolutions set out in the Company's notice of annual general meeting proposed to shareholders at the Company's Annual General Meeting held earlier today were duly passed.
OPERATIONAL UPDATE
Jeff Chatfield, Chairman, said, "CLA has made significant progress in 2012. We have re-shaped our fleet with the disposal of our Australian leasing subsidiary, C1, which helped avoid the residual value risk associated with the older aircraft in the C1 portfolio.
"Our key performance objectives for this period were to strengthen our financial position, manage our long-term lease risks, remain profitable and reduce overall debt. The Directors are pleased to advise that we have been successful in achieving these goals.
"In line with our stated strategy, we are now well placed to grow our fleet with newer aircraft. However, we will only enter into those transactions which offer shareholders the opportunity for appropriate returns. A new managing director has been appointed with a view to expand the Group's business in a profitable and capital efficient manner.
"At a corporate level, we have appointed Neville Registrars to be our new registrars and Blythe Weigh Communications to handle our media and investor relations."
"I would like to take this opportunity to thank all our shareholders for their ongoing support and look forward to creating more value as we continue to develop our aircraft leasing and investment business. The Board looks forward to 2013 with confidence."
RESIGNATION OF DIRECTOR
The Company announces that Mr. Olivier Garrigue has tendered his resignation as a director of the Company at the conclusion of the Company's annual general meeting. The directors, at a subsequent board meeting to the AGM, accepted Mr. Garrigue's resignation and expressed their gratitude to Mr. Garrigue for his service to the Company.
Enquiries
Blythe Weigh Communications
Tim Blythe, Natalie Raper, Kawthar Badda + 44 (0) 207 138 3204
Tim.blythe@blytheweigh.com
Capital Lease Aviation Plc +65 9735 4151
Jeff Chatfield, Executive Chairman
Nominated Adviser - WH Ireland Limited 0207 220 1666
James Joyce and James Bavister
Company Stockbroker
W H Ireland Limited 0207 220 1670
Website www.capitalleaseaviation.com