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MONADELPHOUS GROUP LIMITED — Capital/Financing Update 2013
Oct 20, 2013
65357_rns_2013-10-20_eeb2cebb-8ef1-40a7-a1d2-236892353323.pdf
Capital/Financing Update
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21 October 2013
Company Announcements Australian Securities Exchange Limited Level 4, 20 Bridge Street SYDNEY NSW 2000 AUSTRALIA
Dear Sir / Madam
RE: Sale of Skystar Operations
Please find attached a copy of the announcement to be issued today by Monadelphous Group Limited regarding the sale of its aviation support services business, Skystar to Menzies Aviation, a division of John Menzies plc.
Yours sincerely,
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Philip Trueman Company Secretary
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ASX RELEASE
21 October 2013
Sale of Skystar Operations
Leading engineering group Monadelphous Group Limited (ASX:MND) (“Monadelphous”) announced to the ASX in its 2013 Full-Year Director’s Report (20 August 2013) that it had entered into a conditional agreement for the sale of its non-core aviation support services business, Skystar to Menzies Aviation (“Menzies”), a division of John Menzies plc.
Monadelphous is pleased to confirm the sale has been finalised and is expected to result in a one-off pre-tax profit of approximately $10 million.
The wholly owned Skystar operating subsidiaries involved in the transaction are Skystar Airport Services Pty Ltd and Skystar Airport Services NZ Pty Ltd.
Monadelphous will work closely with Menzies to ensure a seamless transition over coming months.
Monadelphous’s board and management would like to thank all Skystar employees for their contribution to the success of the business over the past 12 years and wish them all the best for the future.
Further Information
Media
Analysts/Investors Media Rachel Cooper Brett Lane Investor Relations Manager Corporate Communications Manager +61 8 9315 7429 +61 8 9315 7385 +61 457 539 985 +61 411 177 809 [email protected] [email protected]
Monadelphous Group Limited (ASX: MND) is a leading engineering group, headquartered in Perth, Western Australia, providing construction, maintenance and industrial services to the resources, energy and infrastructure sectors throughout Australasia. The Company has two operating divisions comprising Engineering Construction, that provides large-scale multidisciplinary project management and construction services and Maintenance and Industrial Services that specialises in the planning, management and execution of mechanical and electrical maintenance services, shutdowns, fixed plant maintenance services and sustaining capital works. For more information visit www.monadelphous.com.au