Skywest Airlines Limited Holdings in Company (2038X)

TIDMSKYW

RNS Number : 2038X

Skywest Airlines Limited

06 February 2013

ASX code SXR

AIM code SKYW

06 February 2013

SKYWEST AIRLINES LTD.

("the Company")

Holdings in Company

PROPOSED ACQUISITION BY VIRGIN AUSTRALIA HOLDINGS LTD (THE "OFFEROR") OF ALL THE ISSUED SHARES IN THE CAPITAL OF SKYWEST AIRLINES LTD (THE "COMPANY") BY WAY OF A SCHEME OF ARRANGEMENT

Centaurus Global Holding Limited ("Centaurus") refers to the announcements made on 30 October 2012 and 6 December 2012 by the Company and the Offeror in relation to the Offeror's proposed acquisition of all the issued shares ("Skywest Shares") in the capital of the Company by way of a scheme of arrangement under Section 210 of the Companies Act (Chapter 50) of Singapore.

   1.         Dealings in Skywest Shares 

Pursuant to Rule 12.1 of The Singapore Code on Take-overs and Mergers, Centaurus hereby gives notice of the following dealings in Skywest Shares by Centaurus Capital LP[1], a related entity of Centaurus, for the account of various funds managed by Centaurus Capital LP[2], on 4 February 2013:

   (a)        Purchase of Skywest Shares 
 
 Date of purchase                4 February 2013 
 Total number of Skywest 
  Shares[3] purchased 
  for the account of PM 
  Manager Fund SPC, on 
  behalf of and for the 
  account of Segregated 
  Portfolio 28 ("SP28"), 
  a fund managed by Centaurus 
  Capital LP                     129,330 
 Percentage of total 
  number of Skywest Shares 
  in issue[4]                    0.06% 
 Price paid per Skywest          AUD0.44 
  Share (excluding brokerage 
  commission, clearing 
  fees and applicable 
  tax) 
 Resultant total number 
  of Skywest Shares held 
  for the account of SP28        8,212,984 
 Resultant total percentage 
  of total number of Skywest 
  Shares in issue                3.86% 
 
   (b)        Sale of Skywest Shares 
 
 Date of sale                    4 February 2013 
 Total number of Skywest 
  Shares[5] sold on behalf 
  of Centaurus Asia Pacific 
  Opportunities Master 
  Fund Limited ("CAPOMF"), 
  a fund managed by Centaurus 
  Capital LP                     129,330 
 Percentage of total 
  number of Skywest Shares 
  in issue[6]                    0.06% 
 Price paid per Skywest          AUD0.44 
  Share (excluding brokerage 
  commission, clearing 
  fees and applicable 
  tax) 
 Resultant total number 
  of Skywest Shares held 
  for the account of CAPOMF      5,736,308 
 Resultant total percentage 
  of total number of Skywest 
  Shares in issue                2.69% 
 
   3.         Aggregate Holding of the Centaurus Group in the Company 

Although there is a change in the number of Skywest Shares held for the account of SP28 and the number of Skywest Shares held for the account of CAPOMF, there is no resultant change in the total number of Skywest Shares held by funds managed by Centaurus Capital LP.

Taking into account the dealing referred to above, as at 4 February 2013, details of securities of the Company owned or controlled by Centaurus, its related entities and funds managed by Centaurus Capital LP are as follows:

 
 Name of entity       Number of         Percentage of         Other Particulars 
                      Securities         total number 
                                       of Skywest Shares 
                                          in issue[7] 
                                                                   Skywest Shares 
                                                                 are owned by funds 
                                                               under the discretionary 
                                                                    management of 
  Centaurus                                                       Centaurus Capital 
   Capital LP         17,698,220             8.31%                       LP. 
  Centaurus            Contracts             0.16%                 CFDs are held 
   Capital LP        for Difference                                by funds under 
                        ("CFDs")                                  the discretionary 
                        relating                                    management of 
                       to 340,000                                 Centaurus Capital 
                     Skywest Shares                                      LP. 
  Total:              18,038,220             8.47% 
 
   4.         Dealings in Shares in the Capital of the Offeror 

Pursuant to Rule 12.1 of The Singapore Code on Take-overs and Mergers, Centaurus hereby gives notice of the following dealings in the issued shares ("Offeror Shares") in the capital of the Offeror by Centaurus Capital LP, a related entity of Centaurus, for the account of funds managed by Centaurus Capital LP, on 4 February 2013:

   (a)        Sale of Offeror Shares 
 
 Date of sale                   4 February 2013 
 Total number of Offeror 
  Shares sold on behalf 
  of SP28                       68,550 
 Percentage of total 
  number of Offeror Shares 
  in issue[8]                   0.003% 
 Price paid per Offeror         AUD0.43 
  Share (excluding brokerage 
  commission, clearing 
  fees and applicable 
  tax) 
 Resultant total number         Nil 
  of Offeror Shares held 
  for the account of SP28 
 Resultant total percentage     Nil 
  of total number of Offeror 
  Shares in issue 
 

Note: SP28 does not hold any Offeror Shares. The Offeror Shares which were sold pursuant to the transaction described above were borrowed from third party securities lenders.

   (b)        Purchase of Offeror Shares 
 
 Date of Purchase               4 February 2013 
 Total number of Offeror 
  Shares purchased for 
  the account of CAPOMF         68,550 
 Percentage of total 
  number of Offeror Shares 
  in issue[9]                   0.003% 
 Price paid per Offeror         AUD0.43 
  Share (excluding brokerage 
  commission, clearing 
  fees and applicable 
  tax) 
 Resultant total number         Nil 
  of Offeror Shares held 
  for the account of CAPOMF 
 Resultant total percentage     Nil 
  of total number of Offeror 
  Shares in issue 
 

Note: CAPOMF utilised the Offeror Shares which were purchased pursuant to the transaction described above, to satisfy part of a securities loan from a third party securities lender who had lent Offeror Shares to CAPOMF for the purposes of covering prior short sales.

   5.         Aggregate Holding of the Centaurus Group in the Offeror 

Taking into account the dealing referred to above, as at 4 February 2013, details of the Offeror Shares owned or controlled by Centaurus, its related entities and funds managed by Centaurus Capital LP are as follows:

 
 Name of entity      Number of        Percentage of 
                   Offeror Shares      total number 
                                     of Offeror Shares 
                                       in issue[10] 
  Centaurus             Nil                 Nil 
   Capital LP 
 

Any enquiries relating to this Announcement or the Scheme should be directed during office hours to:

Skywest Airlines Ltd

   Jeff Chatfield, Executive Chairman                                                  [phone] 

Nominated Adviser

James Joyce, W H Ireland Limited [phone]

Company Stockbroker

W H Ireland Limited [phone]

Financial Public Relations

Bishopsgate Communications [phone]

Nick Rome

[e-mail]

Media Enquiries in Australia

Brian O'Dwyer [phone]

Websites

www.skywest.com.au

www.advent.com.sg

www.skywest.com.sg

[1] Centaurus is the sole shareholder of Centaurus Capital Limited, the general partner of Centaurus Capital LP. Centaurus is in turn wholly-owned by Bernard Oppetit.

[2] These funds are, namely, Centaurus Event Opportunities Master Fund Limited, Nomura Centaurus International Risk Arbitrage Fund, Centaurus Asia Pacific Opportunities Master Fund Limited and PM Manager Fund SPC, on behalf of and for the account of Segregated Portfolio 28.

[3] The securities purchased are Chess Depositary Interests listed on the Australian Stock Exchange.

[4] References in this letter to the total number of Skywest Shares in issue are based on 213,040,000 Skywest Shares in the share capital of the Company.

[5] The securities purchased are Chess Depositary Interests listed on the Australian Stock Exchange.

[6] References in this letter to the total number of Skywest Shares in issue are based on 213,040,000 Skywest Shares in the share capital of the Company.

   [7]   Any discrepancies in the percentages listed and the totals thereof are due to rounding. 

[8] References in this letter to the total number of Offeror Shares in issue are based on 2,455,774,902 Offeror Shares in the share capital of the Offeror.

[9] References in this letter to the total number of Offeror Shares in issue are based on 2,455,774,902 Offeror Shares in the share capital of the Offeror.

[10] Any discrepancies in the percentages listed and the totals thereof are due to rounding.

This information is provided by RNS

The company news service from the London Stock Exchange

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