Last checked at 8 Jan 2024 11:31
8th January 2024
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")
Potential Acquisition
The Board of Gama Aviation is aware of industry market speculation and confirms that it is in discussions to acquire the business of Specialist Aviation Services Limited ("Specialist"). Specialist is a UK-based provider of helicopter emergency medical services ("HEMS") and aircraft repairs and maintenance services ("MRO"), including through contracts with certain air ambulance charities in the UK. In 2022 Specialist generated circa £24m of revenue.
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.
A further announcement will be made in due course.
ENDS
Gama Aviation Plc +44 (0) 1252 553 000Marwan Khalek, Chief Executive
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 & MRO), 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/