Satair A/S
Airbus announces the results of its voluntary, recommended, public Offer to buy all the shares of Satair

Satair A/S 

29.09.2011 12:15

Dissemination of a Adhoc News, transmitted by DGAP - a company of
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The issuer is solely responsible for the content of this announcement.

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- the Offer will be carried out with a final acceptance rate of approx. 96.7

In an announcement today, Airbus SAS and Airbus Denmark Holding ApS ('Airbus')
state that valid acceptance of the voluntary, recommended, public offer to the
shareholders of Satair has been made for a total of 96.7% of the total share
capital plus outstanding warrants. See the separate announcement on this topic
issued by Airbus earlier today. 



According to Airbus, all conditions for carrying out the Offer have then been
met. 



Background

On 2 August 2011, Airbus published an Offer Document containing a voluntary,
recommended, public offer to the shareholders of Satair to buy their shares at
a cash price of DKK 580 per share. The offer also applied to warrants. See
Satair's release no. 207 of 27 July 2011. 



In a statement of 2 August 2011, the Board of Directors of Satair unanimously
recommended the holders of shares and warrants to accept the offer. See
Satair's release no. 209 of 2 August 2011. 



Statements from the Chairman and the CEO of Satair

'We are extremely pleased that an overwhelming majority of Satair's
shareholders has accepted the offer made by Airbus. We find the price to be
fair and fully reflective of Satair's values and assets. Airbus' offer
represents a return of 193% for the shareholders since 1 July 2010. The new
owners will give Satair a stable and favourable position in the global
aerospace industry,' says N.E. Nielsen, Chairman of Satair's Board of
Directors. 



John Stær, Satair's CEO, explains: 'We are happy about the outcome and look
forward to cooperating with Airbus. Together we will be able to accelerate the
growth already generated by Satair and speed up the introduction of new product
lines and service areas. I am convinced that a good and exciting future lies
ahead for both Management and employees.' 



Compulsory redemption and delisting

Airbus has announced that as soon as possible, and in accordance with the
relevant provisions of the Danish Companies Act and the Offer Document, it will
initiate the compulsory redemption of the remaining shareholders in Satair. 



The following step will be to delist Satair from NASDAQ OMX Copenhagen A/S.



Settlement

The implementation and settlement of the Offer to Buy is scheduled for 4
October 2011. 



Forward-looking statements

The above forward-looking statements, in particular those that relate to future
sales and operating profit, are subject to risks and uncertainties as various
factors, many of which are outside Satair's control, may cause the actual
development to differ materially from the expectations stated in the release.
Factors that might affect such expectations include, among others, major
changes in the market environment, the product portfolio, the customer
portfolio, exchange rates, company acquisitions or divestments. 



For further information please contact

Board Chairman N.E. Nielsen, nen@lett.dk, +45 4243 3343

CEO John Stær, jst@satair.com, +45 4015 9286
News Source: NASDAQ OMX



29.09.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Satair A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010230390
WKN:          
 
End of Announcement                             DGAP News-Service
 
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