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About the FOXTEL Proposal
On 11 July 2011, AUSTAR United Communications Limited (AUSTAR, ASX: AUN) announced that it had entered into definitive transaction agreements with Liberty Global, Inc. (LGI) and FOXTEL Management Pty Limited (FOXTEL) under which FOXTEL will acquire AUSTAR by a series of transactions including a scheme of arrangement (Scheme).
Should the transaction proceed, all AUSTAR shareholders will receive $1.52 in cash per share, which values AUSTAR at an Enterprise Value of approximately $2.5 billion.
The Scheme is subject to a number of conditions, including minority shareholder approval, detailed further under 'Information on the Transaction'.
A Scheme Booklet containing information relating to the proposal and details of the Scheme Meeting was mailed to shareholders on or before December 20 2011. You can also download an electronic copy HERE .
The Scheme Meeting and General Meeting will be held on Friday 30 March 2012 at the AGL Theatre, Museum of Sydney, 37 Phillip St, Sydney NSW 2000 from 3pm.
Key dates and times are outlined below:
Latest time and date for receipt of proxy forms or powers of attorney by the AUSTAR Registry for the Shareholder Meetings
3:15pm on 28 March 2012
Time and date for determining eligibility to vote at the Scheme Meeting and the General Meeting
7:00pm on 28 March 2012
FOXTEL Funding documents (if applicable) and the relevant Scheme Deed Poll to be executed
29 March 2012
Scheme Meeting (to be held at AGL Theatre, Museum of Sydney, 37 Phillip Street, Sydney NSW 2000)
3:00pm on 30 March 2012
General Meeting (to be held at AGL Theatre, Museum of Sydney, 37 Phillip Street, Sydney NSW 2000)
3:15pm on 30 March 2012 (or as soon after that time as the Scheme Meeting is concluded or adjourned)
If the Scheme is approved at the Scheme Meeting and the Resolutions are passed at the General Meeting
Substitute funding documents to be executed (if applicable)
2 April 2012
Second Court Date (for approval of the Scheme)
3 April 2012
Effective Date
4 April 2012
Last day of trading in AUSTAR Shares on the ASX – AUSTAR Shares suspended from trading on the ASX from close of trading.
4 April 2012
Record Date (for determining entitlements to Scheme Consideration)
7:00pm on 13 April 2012
Implementation Date – despatch of Scheme Consideration to Scheme Shareholders and transfer of Scheme Shares to LGI Bidco
17 April 2012
AUSTAR delists from the ASX
18 April 2012
Completion of the FOXTEL Acquisition – transfer of LGI’s interests in AUSTAR to the FOXTEL Group
Expected to be 24 May 2012