Gama Aviation settles legal dispute with Dustin Dryden

Writer, Stock Market Wire
Tuesday, June 19, 2018 - 13:20

Private jet operator Gama Aviation said it had reached a settlement with businessman Dustin Dryden over their legal dispute.

Legal proceedings in the High Court had therefore been stayed, the company said.

Dryden and associated entities would withdraw their various damages claims against the company.

Dryden had also agreed to 'transfer value to the company by a cash payment and transfer of certain assets', Gama said, without being more specific.

In exchange, the company said it had agreed to withdraw its debt recovery claims against the Dryden parties.

Further details were subject to a mutual confidentiality provision, though Gama reiterated that a settlement would result in a net cash inflow to the company.

'Accordingly, other than legal costs, which will be included in exceptional items, the terms of the settlement will have no impact upon the underlying results of the company,' it said.

At 1:20pm: (LON:GMAA) Gama Aviation Plc share price was +4.5p at 214.5p


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