GAAM announces a change to the ownership structure of GAHFL. Geoff Dixon joins board

Global Aviation Asset Management (GAAM) announced (03-Jun-2010) a change to the ownership structure of Global Aviation Holdings Fund (GAHFL) and the appointment of a new Advisory Board. The restructuring of GAAM and GAHFL involves the following:

• The interests of the remaining non strategic, financial investors (Stark and Oasis) have been acquired through the combination of a selective company buyback, further investment by Greg Woolley's private interests, LJCB Investment Group and a consortium of new investors;
• The external manager of GAHFL has been internalized as a result of the sale of GAAM to GAHFL by Greg Woolley
• New ownership levels are:
  • Woolley: 20%;
  • LJCB Investment Group: 70%;
  • Consortium of new investors (10%), principal investors in the new consortium are Geoff Dixon and Peter Gregg (former Qantas CEO and CFO, respectively), as well as Greg Woolley, David Coe, Mark Carnegie and John Singleton.

• Keybridge Capital's financing arrangements in relation to a part of LJCB's holding, held through Judbury Investments, will remain unchanged;
• Dixon, Gregg, Coe and Carnegie will join Woolley on GAHFL's Advisory Board The Chairman of GAAM, Mr Greg Woolley, said that the GAAM business has performed strongly since it was founded in 2005. [more]