SKYW Skywest Air

TIDMSKYW

RNS Number : 8750A

Skywest Airlines Limited

26 March 2013

ASX: SXR

AIM: SKYW

SKYWEST AIRLINES LTD.

("SKYWEST" OR "THE COMPANY")

COURT SANCTION OF PROPOSED SCHEME

The Board of Directors (the "Directors") of Skywest refers to the announcement made by the Company on 13 March 2013 in relation to the results of the meeting (the "Scheme Meeting") of the shareholders of the Company (the "Shareholders") to approve the proposed acquisition by Virgin Australia Holdings Limited ("Virgin Australia") of all the issued ordinary shares in the capital of the Company ("Shares"), 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 also refer to the announcement made by the Company on 15 March 2013 in relation to the application to the High Court of the Republic of Singapore (the "Court") for its sanction of the Scheme which will be heard by the Court on 26 March 2013.

Unless otherwise defined, terms defined in the Scheme Document but not defined herein have the same meanings when used herein.

Further to the previous announcements, the Directors are pleased to announce that the Scheme was sanctioned by the Court today. The Scheme shall become effective upon the lodgement of a copy of the order of the Court with the Accounting and Corporate Regulatory Authority of Singapore.

Shareholders are reminded that the last day for trading of the Skywest Shares and the subsequent suspension of trading on AIM and ASX will be on 27 March 2013.

BOOK CLOSURE DATE

NOTICE IS HEREBY GIVENthat the share transfer books and the Register of Members of Skywest will be closed at 5.00 p.m. on 8 April 2013 for the purpose of determining the entitlements of Shareholders to the Scheme Cash and Securities Consideration under the Scheme.

As set out in the Scheme Document, Shareholders should further note the following events and their dates:

 
 Date of notice of Books Closure          :   26 March 2013 
  Date 
 
 Last day and time for trading of 
  the Skywest Shares: 
 (a) AIM                                  :   27 March 2013 
 
 (b) ASX                                  :   27 March 2013 
 
 Suspension of the Skywest Shares         :   28 March 2013 at 7.30 a.m. 
  on AIM                                       (London time) 
 
 Suspension of the Skywest Shares         :   27 March 2013 at 7.00 p.m. 
  on ASX                                       (Sydney time) 
 
 Books Closure Date                       :   8 April 2013 at 5.00 p.m. 
                                               (Singapore time) 
 
 Effective Date                           :   11 April 2013 
 
 Date of removal of Skywest from          :   11 April 2013 
  the official list of the ASX 
 
 Date of the cancellation of the          :   12 April 2013 at 7.00 a.m. 
  admission of Skywest Shares to               (London time) 
  trading on AIM 
 
 Commencement of deferred trading         :   12 April 2013 
  of VAH Consideration Shares on 
  ASX 
 
 Date for payment of Scheme Cash          :   19 April 2013 
  and Securities Consideration 
 
 Despatch Date and last day of deferred   :   19 April 2013 
  trading for VAH Consideration Shares 
 
 Date of commencement of trading          :   22 April 2013 
  on ASX of the VAH Consideration 
  Shares on a normal basis 
 

--ENDS--

Enquiries:

Skywest Airlines Ltd

   Jeff Chatfield, Executive Chairman                                                   +65 97354151 

Nominated Adviser

   James Joyce, W H Ireland Limited                                                   0207 220 1666 

Company Stockbroker

W H Ireland Limited 0207 220 1670

Financial Public Relations

   Bishopsgate Communications                                                         0207 562 3350 

Nick Rome

skywest@bishopsgatecommunications.com

The Skywest 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 Skywest 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 Skywest 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.

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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