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Pin to quick picksGama Aviation Regulatory News (GMAA)

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Appointment of Chairman

3 Apr 2019 12:15

RNS Number : 0122V
Gama Aviation PLC
03 April 2019
 

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) No 596/2014

 

3 April 2019

 

Gama Aviation Plc (AIM: GMAA)

("Gama", "the Company" or "the Group")

 

Appointment of Chairman

 

Gama Aviation Plc one of the world's largest business aviation service providers, is pleased to announce the appointment of Simon To, a current non-executive Director of the Company, as Chairman with immediate effect. Further to the announcement in November 2018, now that a successor has been found, Sir Ralph Robins will retire from the Board with immediate effect.

 

Simon To is Managing Director of Hutchison Whampoa (China) Limited ("Hutchison China") and Chairman of Hutchison China Meditech (AIM/Nasdaq: HCM), an innovative biopharmaceutical company listed on AIM and Nasdaq with a market capitalisation of around £3 billion. He was formerly an independent non-executive Director on the boards of China Southern Airlines Company Limited (1055:HK/ZNH:US, current market cap: US$14.5bn) and Air China Limited (753:HK/AIRYY:US, current market cap: US$22bn). He has been Vice Chairman of the Board of GAMECO since 1989 and serves as the Chairman of China Aircraft Services Limited, in which Gama has a 20% shareholding.

 

Sir Ralph Robins commented: "Simon brings extensive expertise and experience in global aviation leadership roles, gaining insight and knowledge of the Group through his existing non-executive Director role at Gama. We are confident that he will provide the requisite leadership to both the Board and the Group's Executive management team."

 

Simon To, Chairman of Gama Aviation Plc, commented: "I remain committed to the strategic vision for Gama which lay behind Hutchison's investment in February 2018. I will work very closely with the Executive management team in addressing Gama's current challenges and setting up a platform for future success for the benefit of all shareholders."

 

The Board has been informed that Hutchison China, which owns 21.17% of Gama's ordinary shares, has no intention of bidding for the Company. This announcement is being made with the consent and prior approval of Hutchison China. This is a statement to which Rule 2.8 of the UK City Code on Takeovers and Mergers (the "Takeover Code") applies. Under Note 2 on Rule 2.8 of the Takeover Code, Hutchison China reserves the right to set aside the restrictions in Rule 2.8 in the following circumstances:

 

I. the board of Gama so agreeing;

 

II. a third party announcing a firm intention to make an offer for Gama; and

 

III. Gama announces a "whitewash" proposal (see Note 1 of the Notes on Dispensations from Rule 9).

 

 

 

For further information please contact:

Gama Aviation Plc +44 (0) 1252 553029

Mine Taylor, Company Secretary

 

Camarco +44 (0) 20 3757 4992

Ginny Pulbrook

Geoffrey Pelham-Lane

 

Jefferies International +44 (0) 207 029 8000

Simon Hardy

Will Soutar

 

Gama Aviation - Notes to Editors

Gama Aviation Plc (AIM:GMAA) is a global business aviation services group that specialises in providing support for individuals, corporations and government agencies; allowing them to deliver on the promises they make.

The Group's services are split into two divisions: Air and Ground. Air services include aircraft management, special mission support and charter. Ground services cover aircraft maintenance services, aircraft modification design and installation, and Fixed Base Operations (FBO).

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.
 
END
 
 
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