Swedish ATP Management AB (publ)
Swedish ATP Management AB (publ): Required write down of the value of the company’s assets of approximately MSEK 235
Swedish ATP Management AB (publ) / Key word(s): Miscellaneous Disclosure of inside information according to Article 17 of the PRESS RELEASE As communicated in the press release made on 29 November 2019, the company is investigating the status and estimated value of the company’s assets (24 ATP Cargo aircraft together with spares and stock). The book value of the assets is set at approximately MSEK 522[1]. Based on the investigations performed since November 2019 and the information at hand so far, the board of directors has resolved that a significant write down of the value of the assets is required in the company’s year-end report. The required write down is estimated to approximately MSEK 235. Further, the estimated loss of the company for the year 2019 is approximately MSEK 12. The write down of asset value and the loss will affect the equity negatively with approximately MSEK 218. Such negative effect of the equity will however be balanced by the guarantee of up to MSEK 272 provided by LUSAT AIR S.L. (Spain) (the new owner of West Atlantic AB (publ)) to the company and the holders of the Bond. The company is in discussions with West Atlantic AB (publ) and LUSAT AIR S.L. (Spain) with the aim to reach an agreement with respect to the parties’ continued cooperation to maximise the value possible to derive from a sale of the company’s assets. The company is continuing its efforts to fully evaluate the values of its ATP assets. For further information, please contact: This information is information that Swedish ATP Management AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 2020-01-31, 15.00 CET. About Swedish ATP Management Swedish ATP Management is a newly established asset management company dedicated to manage the BAE ATP (Advanced Turboprop) the most cost efficient cargo aircraft in its segment (8 ton in both metric volume and payload). We aim to increase ATP operations and utilization through our provided services. Swedish ATP Management AB (publ) Org. no: 559204-4084, Box 5433, SE-402 29 Gothenburg, Sweden, www.atpcargo.com
31-Jan-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Swedish ATP Management AB (publ) |
Box 5433 | |
40229 Göteborg | |
Sweden | |
Phone: | +46 70 558 58 65 |
E-mail: | stefan@atpcargo.com |
ISIN: | SE0012930089 |
WKN: | A19NPH |
Listed: | Regulated Unofficial Market in Frankfurt |
EQS News ID: | 965313 |
End of Announcement | DGAP News Service |