ESKEN LIMITED

Clare Laura Kennedy, Daniel Christopher Imison and Catherine Mary Williamson (the “Joint Administrators”) were appointed joint administrators of Esken Limited (“Esken”) on 21 March 2024.

On 9 May 2023, Esken and the Joint Administrators (acting as agents and without personal liability) entered into a conditional sale agreement with Ebro Bidco Limited (“Bidco”) for the sale to Bidco of 100% of the shares in Esken Aviation Limited which, following completion of the LSA recapitalisation on 16 May 2024, is the holding company in respect of a 17.5% equity stake in London Southend Airport, and certain intercompany receivables owing by Esken Aviation Limited and its subsidiaries (the “Sale”).

As a condition to completion of the Sale, Bidco is offering certain eligible creditors of Esken with claims in an amount of £50,000 or more the opportunity to subscribe for shares in Bidco in exchange for the release of 90% of such creditors’ claims against Esken (the “Bidco Equity Offer”). The Bidco Equity Offer will expire on 22nd June 2024.

Holders in respect of the £53,075,000 2.75 per cent. secured exchangeable bonds due 8 May 2024 issued by Esken Finance plc (ISIN: XS1946847388) guaranteed by Esken (the “Bonds”) will be contacted by Bidco separately in relation to a proposal on materially similar terms to those of the Bidco Equity Offer via the clearing systems of the Bonds in due course.

For further information relating to the Bidco Equity Offer, including access to the debtdomain portal on which the relevant materials outlining the terms of the Bidco Equity Offer have been made available and eligibility criteria for creditors to participate in such offer, or for enquiries in relation to the above, creditors should send contact details (including email address) to Bidco atesken@cyruscapital.com.

Ag QJ23005