HONG KONG, 18 July 2012 – Asia Satellite Management Stock Ownership Trust (“MSOT”) and AsiaSat MSOT (PTC) Limited (acting in its capacity as trustee of MSOT) (together the “Offeror”) and Asia Satellite Telecommunications Holdings Limited (“AsiaSat” or the “Company” and together with its subsidiaries, the “Group”) (HKSE: 1135; 1135.HK) jointly announced today that the proposal (the “Proposal”) for the privatisation of AsiaSat by way of a scheme of arrangement (the “Scheme”) has not been approved by the requisite majority and was disapproved by over 10% of the votes attaching to all the shares held by the independent shareholders at the Court Meeting (the “Results Announcement”). As a result, the Scheme cannot be put into effect, the Special General Meeting (“SGM”) has been adjourned indefinitely and the listing of AsiaSat shares on the Stock Exchange of Hong Kong is and will be maintained.
At the request of the Company, trading in AsiaSat shares was suspended from 9:00 a.m. on Wednesday, 18 July 2012 pending the release of the Results Announcement. An application has been made by the Company to the Stock Exchange for resumption of trading in AsiaSat shares with effect from 9:00 a.m. on Thursday, 19 July 2012.
Pursuant to Rule 31.1 of the Code on Takeovers and Mergers, neither the Offeror nor parties who acted in concert with it in the course of the Proposal (nor any person who is subsequently acting in concert with any of them) may within 12 months from the date of the Results Announcement, announce an offer or possible offer for the Company without the consent of the Securities and Futures Commission of Hong Kong.
For a detailed breakdown of shareholder voting and other information, please see the Results Announcement, which is available at www.hkexnews.hk and www.asiasat.com.
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About Asia Satellite Management Stock Ownership Trust and AsiaSat MSOT (PTC) Limited
AsiaSat MSOT (PTC) Limited is a company incorporated in the British Virgin Islands with limited liability. It is a wholly-owned subsidiary of AsiaSat and is the trustee of Asia Satellite Management Stock Ownership Trust, a management stock ownership trust established by the Company for the purpose of holding new shares and preference shares in the Company to be allotted and issued upon the implementation of the Scheme and in connection with the operation of a management incentive award plan to be adopted by AsiaSat as from the effective date of the Scheme for the benefit of selected employees of the Group.
About Asia Satellite Telecommunications Company Limited
Asia Satellite Telecommunications Company Limited, the leading regional satellite operator in Asia, serves over two-thirds of the world’s population with its four satellites, AsiaSat 3S at 105.5ºE, AsiaSat 4 at 122ºE, AsiaSat 5 at 100.5ºE and AsiaSat 7. The AsiaSat satellite fleet provides services to both the broadcast and telecommunications industries. Some 500 television and radio channels are now delivered by the company’s satellites offering access to over 620 million TV households across the Asia-Pacific region. AsiaSat also provides telecommunications operators and end users services such as voice networks, private VSAT networks and broadband multimedia. AsiaSat’s latest satellites, AsiaSat 6 and AsiaSat 8, are planned to be launched in the first half of 2014. It is a wholly-owned subsidiary of Asia Satellite Telecommunications Holdings Limited, a company listed on The Stock Exchange of Hong Kong Limited (Stock Code: 1135). For more information, please visit www.asiasat.com.
For media inquiries please contact:
Sabrina Cubbon, VP Sales and Marketing
Tel: (852) 2500 0899
Mobile: (852) 9097 1210
Email: scubbon@asiasat.com
Winnie Pang, Manager, Corporate Affairs
Tel: (852) 2500 0880
Email: wpang@asiasat.com