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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Skywest Air | LSE:SKYW | London | Ordinary Share | SG9999002018 | ORD SGD0.20 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 29.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSKYW
RNS Number : 6547Y
Skywest Airlines Limited
26 February 2013
ASX: SXR
AIM: SKYW
26 February 2013
SKYWEST AIRLINES LTD.
("Skywest" or "the Company")
DESPATCH OF SCHEME DOCUMENT TO SHAREHOLDERS
The Board of Directors (the "Directors") of Skywest refers to the joint announcement made by the Company and Virgin Australia Holdings Limited ("Virgin Australia") on 6 December 2012 in relation to the receipt of formal approval from the Securities Industry Council of Singapore for the terms of Virgin Australia's proposal to acquire 100% of the issued ordinary shares in the capital of the Company, to be undertaken through Virgin Australia's wholly-owned subsidiary, VAH Newco No. 2 Pty Ltd (the "Offeror"), by way of a scheme of arrangement under Section 210 of the Companies Act (Chapter 50 of Singapore) and in accordance with the Singapore Code on Take-overs and Mergers (the "Scheme").
The Directors wish to announce that the Company has today despatched to the shareholders of the Company (the "Shareholders") a scheme document dated 26 February 2013 (the "Scheme Document") containing, inter alia, full details of the Scheme (including the Virgin Australia's letter to the Shareholders, the advice of the independent financial adviser to the Directors (the "IFA") and the recommendation of the Directors in respect of the Scheme).
The Scheme Document contains the notice of a meeting of the Shareholders (the "Scheme Meeting") which is convened by the High Court of Singapore for the purpose of seeking Shareholders' approval for the Scheme. Shareholders are advised to note the following important dates, time and place in respect of the Scheme Meeting and completion of the transaction:
Last date and time for lodgment of : 10 March 2013 at voting instruction forms for the 10.00 a.m. (Singapore Scheme Meeting for CHESS and CREST time) depository interest holders : Last date and time for lodgment of 11 March 2013 at proxy form for the Scheme Meeting 10.00 a.m. (Singapore time) Date and time of Scheme Meeting : 13 March 2013 at 10.00 a.m. (Singapore time) Place of Scheme Meeting : 510 Thomson Road #12-04 SLF Building Singapore 298135 Expected Court Hearing Sanction Date : 27 March 2013 Expected date of notice of Books : 28 March 2013 Closure Date Expected last day of trading of Skywest : 28 March 2013 Shares on AIM and ASX and subsequent suspension of trading Expected Books Closure Date 9 April 2013 at 5.00 p.m. (Singapore time) Expected Effective Date : 12 April 2013 Expected date of cancellation of : 12 April 2013 trading of Skywest Shares on AIM/ASX Expected date for payment of Scheme : 22 April 2013 Cash and Securities Consideration Expected date of admission to and : 23 April 2013 commencement of trading on ASX of the Virgin Australia Consideration Shares
Save for the last dates and times for lodgement of Proxy Forms and Voting Instruction Forms and the date and time of the Scheme Meeting, the above timetable is indicative only and may be subject to change. For the events listed above which are described as "expected", please refer to future announcement(s) by the Company on AIM and/or ASX for the exact dates and times of these events.
Shareholders who do not receive the Scheme Document within a week from the date of this announcement may obtain a copy of the Scheme Document and any related documents during normal business hours on any day prior to the date of the Scheme Meeting from the registered office of the Company in Singapore at 510 Thomson Road, #12-04 SLF Building, Singapore 298135. Alternatively, Shareholders may write to the Company at the same address to request for the Scheme Document and any related documents to be sent to them at an address in Singapore, Australia or the United Kingdom by ordinary post at their own risk, up to five (5) market days prior to the date of the Scheme Meeting.
An electronic copy of the Scheme Document is also available on the shareholders section of the Company's website at http://www.skywest.com.sg/.
Shareholders are urged to read the Scheme Document in its entirety, including the recommendation of the Directors and the advice of the IFA, before making any decision on how to vote on the Scheme.
Shareholders should note that upon the Scheme becoming effective and binding, the entire share capital of the Company will be owned by the Offeror and Skywest will make applications to cancel the listing and quotation of Skywest shares on AIM and ASX and cancel the trading in CREST DIs on AIM and in CHESS DIs on ASX.
The Directors (including any who may have delegated detailed supervision of this announcement) have taken all reasonable care to ensure that the facts stated and all the opinions expressed in this announcement are fair and accurate and that no material facts have been omitted from this announcement, the omission of which would make any statement in this announcement misleading, and the Directors jointly and severally accept full responsibility accordingly.
Where any information has been extracted or reproduced from published or otherwise publicly available sources, the sole responsibility of the Directors has been to ensure through reasonable enquiries that such information is correctly extracted from such sources or, as the case may be, reflected or reproduced in this announcement.
Issued by:
SKYWEST AIRLINES LTD.
26 February 2013
Any enquiries relating to this Announcement or the Scheme should be directed during office hours to:
Skywest Airlines Ltd
Jeff Chatfield, Executive Chairman +65 9735 4151
Nominated Adviser
James Joyce, W H Ireland Limited +44 (0)207 220 1666
Company Stockbroker
W H Ireland Limited +44 (0)207 220 1670
Financial Public Relations
Bishopsgate Communications +44 (0)207 562 3350
Nick Rome
skywest@bishopsgatecommunications.com
Media Enquiries in Australia
Brian O'Dwyer +65 6252 2077
Websites
www.skywest.com.au
www.advent.com.sg
www.skywest.com.sg
This information is provided by RNS
The company news service from the London Stock Exchange
END
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