Gama Aviation Plc announced that it has repaid the Company's £20 million HSBC Term Loan Facility and to provide an update on additional funding, liquidity and net bank debt. Maturing Credit Facility: The Term Loan, which was due to mature on 31st January 2023, has now been repaid in full. Consequently, all the Group's obligations in respect of the Term Loan have been fully discharged and the associated securities are in the process of being released.

The repayment, made on 25th January 2023, was funded by a combination of the $10 million proceeds of the Group's new US credit facilities announced on 30thDecember 2022, proactive management of working capital and cash at hand. Additional Funding: Since the last update, significant progress has been made in negotiations with other lenders to secure the additional funding required to execute the Group's near-term organic growth strategy, and an update will be provided once terms are finalised. Liquidity and Net Bank Debt: As at 25th January 2023, and following the repayment of the Term Loan, the Group held cash balances totaling $10.4 million and net bank debt stood at $1.9 million.