TIDMBBA
RNS Number : 4160K
BBA Aviation PLC
28 August 2019
28 August 2019
BBA Aviation plc (the "Company")
Proposed sale of Ontic to CVC Fund Vll (the "Transaction")
Following the general meeting held earlier today regarding the
Transaction the Company confirms that the required resolution was
passed with over 99.9% of shareholders voting in favour of the
resolution at the general meeting. Details of the resolution were
set out in the Company's circular to shareholders, dated 9 August
2019 (the "Circular").
As previously announced, the completion of the Transaction
remains subject to the satisfaction or waiver of the conditions
summarised in the Circular. The Transaction is expected to complete
during the final quarter of 2019.
The detailed voting figures are shown in the table below:
Resolution For (including % Against % Withheld
discretionary
votes)
--------------- ------- -------- ------ -----------
To approve the sale of the Ontic
business and to authorise the
directors to do anything to
1 give effect to the resolution. 844,434,692 99.998 19,429 0.002 377,878
--------------------------------- --------------- ------- -------- ------ -----------
Notes:
The full text of the resolution is set out in the notice of meeting.
A vote withheld is not a vote in law and accordingly these votes
are excluded from the calculation of the percentage of votes
for and against the resolution.
A copy of this announcement confirming the voting figures will
be displayed shortly on the Company's website at
www.bbaaviation.com.
A copy of the resolution has been submitted to the National
Storage Mechanism and will shortly be available for inspection at
www.morningstar.co.uk/uk/nsm.
Enquiries:
BBA Aviation plc
Mark Johnstone, Group Chief Executive
David Crook, Group Finance Director
Kate Moy, Head of Investor Relations and Communications
+44 (0) 20 7514 3999
Lazard & Co. (Lead Financial Advisor)
Richard Shaw
Stephen Henry
+44 (0) 20 7187 2000
J.P. Morgan Cazenove (Financial Advisor and Joint Corporate
Broker)
Robert Constant
Michael Wentworth-Stanley
Richard Perelman
+44 (0) 20 7742 6000
Tulchan Communications (Public Relations Advisor)
David Allchurch
+44 (0) 20 7353 4200
Information on BBA Aviation plc
BBA Aviation plc is a market leading, global aviation support
and aftermarket services provider, primarily focused on servicing
the Business and General Aviation (B&GA) market. We support our
customers through three principal businesses: Signature Flight
Support, Ontic and Global Engine Services/Engine Repair and
Overhaul (ERO).
Signature, including Signature TECHNICAir(TM) and EPIC Fuels,
provides premium, full service flight and home base support
including refueling, ground handling and MRO services through the
world's largest fixed base operation (FBO) network for B&GA
users with around 200 locations covering key destinations in North
America, Europe, South America, Caribbean, Africa and Asia. EPIC
Fuels is a provider of aviation fuels, supplies and services
operating at more than 200 locations.
Ontic is a leading provider of high-quality equipment and
cost-effective solutions for the continuing support of maturing and
legacy aerospace platforms with locations in the USA, Europe and
Asia. ERO is a leading independent engine service provider to
global B&GA operators, the rotorcraft market and regional
airline fleets with locations in the USA, Europe, South America,
Asia and the Middle East.
On 1 March 2018 BBA Aviation announced that it was conducting a
strategic review of the ERO business and, at the end of May 2018,
management committed to a plan to sell substantially all of the
business and the relevant assets and liabilities were classified as
held for sale. The sale process is ongoing.
On 30 July 2019, BBA Aviation announced the proposed sale of
Ontic to CVC Fund VII, subject to shareholder and regulatory
approvals. Subject to approvals the sale is expected to close in Q4
2019.
For more information, please visit www.bbaaviation.com
Cautionary statement
This announcement is not intended to, and does not constitute,
or form part of, any offer to sell or an invitation to purchase or
subscribe for any securities or a solicitation of any vote or
approval in any jurisdiction. The information contained in this
announcement is not for release, publication or distribution in any
jurisdiction where to do so might constitute a violation of local
securities laws or regulations.
Important information relating to financial advisors
Lazard & Co., Limited, which is authorised and regulated by
the Financial Conduct Authority in the United Kingdom, is acting
exclusively for BBA Aviation plc and for no one else in connection
with the Transaction and will not be responsible to anyone other
than BBA Aviation plc for providing the protections afforded to its
clients or for providing advice in connection with the Transaction,
the contents of this announcement or any other matter referenced
above. Neither Lazard & Co., Limited nor any of its affiliates
owes or accepts any duty, liability or responsibility whatsoever
(whether direct or indirect, whether in contract, tort or
otherwise) to any person who is not a client of Lazard & Co.,
Limited in connection with the Transaction, any statement contained
herein or otherwise.
J.P. Morgan Securities plc (which conducts its UK investment
banking activities as J.P. Morgan Cazenove) ("J.P. Morgan
Cazenove"), which is authorised in the United Kingdom by the
Prudential Regulation Authority (the "PRA") and regulated in the
United Kingdom by the PRA and the Financial Conduct Authority, is
acting exclusively as financial advisor to BBA Aviation plc and for
no one else in connection with the Transaction and will not be
responsible to anyone other than BBA Aviation plc for providing the
protections afforded to clients of J.P. Morgan Cazenove or for
providing advice in relation to the Transaction, the contents of
this announcement or any transaction, arrangement or other matter
referred to in this announcement.
Incorporation by reference
Neither the content of the Company's website (or any other
website) nor the content of any website accessible from hyperlinks
on the Company's website (or any other website) is incorporated
into or forms part of this announcement.
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
ROMSEDFSAFUSEFA
(END) Dow Jones Newswires
August 28, 2019 06:16 ET (10:16 GMT)
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