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QANTAS AIRWAYS LIMITED M&A Activity 2007
65642_rns_2007-03-06_35e8fb40-3928-4fe2-9d99-ea1c15d6b46c.pdf
M&A Activity
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NO.562 $P.1/1$
Airline Partners Australia Linnted Level 60 Governor Phillip Tower 1 Farrer Place Sydney NSW 2000
ACN: 123 058 917
7 March 2007
TIME FOR QANTAS SHAREHOLDERS TO ACCEPT
A director and the spokesman for Airline Partners Australia (APA), Mr Bob Mansfield AO, today urged shareholders to accept APA's offer following the announcement that the Federal Government will not oppose the proposed acquisition.
"The cash offer represents a significant premium for shareholders and the binding undertakings given to the Government guarantee that Qantas will remain majority Australian owned and controlled."
"The only material positive condition to be satisfied is reaching 90% acceptances.
"To date, acceptances (including instructions held under the institutional acceptance facility) have been received for approximately 12% of total shares on issue1.
"It is particularly pleasing that more than 37% of Qantas shareholders by number have already accepted the offer.
"The offer closes on 3 April 2007 (unless extended or withdrawn), however the sooner APA's offer becomes unconditional, the sooner we will be able to pay shareholders.
"As we've previously stated, the offer price is final and will not be increased in the absence of an alternative proposal.
"We encourage Qantas shareholders to accept the offer without further delay," Mr Mansfield said.
For further information contact:
Martin Debelle Cannings Tel: (02) 9252 0622 Fax: (02) 9252 0707 Email: [email protected] www.cannings.net.au
As at 6 March 2007, Instructions held under the Institutional Acceptance Facility represented 4.0% of total shares on issue