Skywest Limited 03 – Panel Makes Interim Orders [07/07/2004] The Takeovers Panel

Wednesday, 7 July 2004

SKYWEST LIMITED 03 – PANEL MAKES INTERIM ORDERS

The Panel has made interim orders with respect to the third application concerning Skywest Limited (Skywest) which was the subject of Panel media release TP 04/54, released on 6 July 2004.

The Panel’s interim orders have been made in relation to the off-market takeover bid by CaptiveVision Capital Limited (CVC) for all the fully paid ordinary shares in Skywest (the Bid). The interim orders:

  • require CVC to extend the offer period of the Bid until 5pm Perth time on 6 August 2004;
  • restrict CVC from declaring the Bid free from conditions without the Panel’s prior written approval; and
  • restrict both CVC and Skywest from initiating communications with Skywest shareholders regarding the Bid except in writing, and then only after first providing the Panel with drafts of proposed communications for review.

The Panel’s interim orders remain in effect until the earlier of further orders by the Panel, conclusion of the Panel proceedings or 6 August 2004.

George Durbridge
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne, VIC 3000
Ph: +61 3 9655 3553
george.durbridge@takeovers.gov.au