Meridian airport sale

Infratil Limited has agreed to sell Manston Airport to Lothian Shelf (710) Limited, an entity wholly owned by Ann Gloag, for cash consideration of £1 plus an adjustment for working capital variances and cash injected by Infratil between 14 October and transaction completion (expected c£350,000)

Ann Gloag is an experienced investor who co-founded Stagecoach Group, the UK-listed public transport operator, along with her brother, Brian Souter.

Manston Airport Management Statement

“In March 2012 it was announced that Manston Airport was being put up for sale. We are very pleased to have found an acquirer with a vision for Manston Airport’s future development.

All flights at the airport and other airport activity continue as normal, without change.

Whilst the sale process has been conducted over the past months there's been a steady growth in traffic through the airport with the start of KLM’s twice daily flights to Amsterdam. Additionally this month we have won the first freighter service into the UK operated by Saudi Airlines twice weekly.”

Infratil Limited has agreed to sell Manston Airport to Lothian Shelf (710) Limited, an entity wholly owned by Ann Gloag, for cash consideration of £1 plus an adjustment for working capital variances and cash injected by Infratil between 14 October and transaction completion (expected c£350,000)

Ann Gloag is an experienced investor who co-founded Stagecoach Group, the UK-listed public transport operator, along with her brother, Brian Souter.

Completion and settlement of the Manston Airport sale will occur on 29 November 2013 (or earlier, at the purchaser’s request), and is only conditional on matters within Infratil’s control.

Kevin Baker, Chief Financial Officer

It's emerged that Manston airport in Kent is to be sold for £1, plus an adjustment for working capital variances expected to be around £350,000

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