SKYW Skywest Air

TIDMSKYW

RNS Number : 0971C

Skywest Airlines Limited

11 April 2013

11 April 2013

ASX: SXR

AIM: SKYW

SKYWEST AIRLINES LTD.

("SKYWEST" OR "THE COMPANY")

EFFECTIVE DATE OF THE SCHEME OF ARRANGEMENT

The Board of Directors of Skywest (the "Skywest Directors") refers to the announcement made by the Company on 26 February 2013 in relation to the despatch of the scheme document dated 26 February 2013 (the "Scheme Document") to the shareholders of the Company (the "Shareholders") relating to the proposed acquisition by Virgin Australia Holdings Limited ("Virgin Australia") of all the issued ordinary shares in the capital of the Company (the "Skywest Shares"), to be undertaken through Virgin Australia's wholly-owned subsidiary, VAH Newco No. 2 Pty Ltd 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 of Take-overs and Mergers (the "Scheme"), and subsequent announcements relating to the progress of this transaction.

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

The Directors are pleased to announce that a copy of the Court Order has been lodged with the Accounting Regulatory Authority of Singapore today, 11 April 2013. Accordingly, all conditions precedent to the Scheme have been satisfied. The Scheme has therefore become effective and binding in accordance with its terms. Pursuant thereto, all of the Skywest Shares will be transferred to Virgin Australia and payment of the Scheme Cash and Shares Consideration will take place by 19 April 2013.

Shareholders are reminded to note the following events and their respective dates and times:

 
 Date of removal of Skywest           :   11 April 2013 
  from the official list of 
  the ASX 
 
 Date and time of the cancellation    :   12 April 2013 at 7.00 a.m. (London 
  of the admission of Skywest              time) 
  Shares to trading on AIM 
 
 Commencement of deferred trading     :   12 April 2013 
  of VAH Consideration Shares 
  on ASX 
 
 Date for payment of Scheme           :   19 April 2013 
  Cash and Securities Consideration 
 
 Despatch Date and last day           :   19 April 2013 
  of deferred 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 

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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