Doric Nimrod Air One Limited - DORIC NIMROD AIR TWO LIMITED

PART I
INFORMATION ON THE COMPANY
Introduction
The Company is a newly incorporated Guernsey domiciled limited liability company,
incorporated on 8 October 2010 with registered number 52484 with a share capital of £1 and
cash and cash equivalents of £1. Its share capital is denominated in Sterling and consists of one
class of Shares and one class of Subordinated Administrative Shares. Application has been
made to the London Stock Exchange for all the Shares issued, and to be issued pursuant to the
Placing, to be admitted to the SFM. Application has also been made for admission of the Shares
to listing on the Official List of the CISX.
Investment in the Company is only suitable for institutional, professional and highly
knowledgeable investors seeking medium to long-term capital appreciation who understand
the risks involved in the Company, including the risk of complete loss of capital.
Investment objective
The Company’s investment objective is to obtain income returns and a capital return for its
Shareholders by acquiring, leasing and then selling a single aircraft.
Investment policy
The Company will initially purchase one Airbus A380-861 aircraft, manufacturer’s serial
number 016 (the "Asset") which it will initially lease to Emirates Airlines ("Emirates"), the
national carrier owned by the Investment Corporation of Dubai based in Dubai, United Arab
Emirates.
The Company will seek to provide investors with income and capital returns through investment
in the Asset.
Any material change to the investment policy of the Company will be made only with the
approval of Shareholders.
Initial investment process
As at the date of Admission, the Company will use the proceeds of the Placing to part fund
the purchase of the Asset. A senior secured financing facility (the "Loan") (further details of
which are set out in Part VII of this Prospectus), provided by Westpac, in the amount of
US$122 million will provide the remaining monies as needed for the acquisition of the Asset.
Upon purchase of the Asset, the Company will enter into a lease with Emirates for an initial
term of 12 years, with fixed lease rentals for the duration. The debt portion of the funding will
fully amortise over the 12 year term of the Lease, leaving the aircraft unencumbered at the
conclusion of the Lease.
Admission is conditional on the execution of the Sale and Purchase Agreement, the Loan
Agreement and the Lease by all the relevant parties.
Market opportunity
If the Placing Amount is raised and Admission is effected, the Company will be able to
acquire the Asset and lease such Asset to an airline carrier on what the Company considers, as
advised by Doric, to be attractive terms.
The Asset
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