AUSTAR United Communications Limited (ASX: AUN) (AUSTAR)
advises it has received court approval for a revised date of
30 March 2012 for its Shareholder Meetings relating to the
proposed acquisition of AUSTAR by FOXTEL Management Pty Ltd
(FOXTEL).
This will allow time for the Australian Competition and
Consumer Commission (ACCC) to finalise its review of the
transaction. Attached to this release is a shareholder letter
detailing the postponement, which will be despatched to
shareholders on 13 February 2012.
ENDS
Deanne Weir
Group Director, Corporate Development
m. 0402 865 300
e. dweir@austar.com.au
Catherine Douglas
Group Manager, Corporate Affairs
m: 0477 100 978
e: cdouglas@austar.com.au
AUSTAR (Australian Stock Exchange "AUN") is a leading provider of subscription television services in regional and rural Australia, with more than 750,000 customers enjoying satellite digital television services. AUSTAR is also a significant provider of programming in the Australian television market through its 50% owned joint venture, XYZnetworks, which owns and/or distributes Nickelodeon, Nick Jr, Discovery Channel, Channel [V], [V]Hits, MAX, Arena, The Lifestyle Channel, Lifestyle Food, LifeStyle You, Country Music Channel and The Weather Channel. Liberty Global, Inc., the largest international broadband cable operator in terms of subscribers, holds an indirect controlling stake in AUSTAR.
10 February 2012
Dear AUSTAR Shareholder
We refer to the Scheme Booklet dated 8 December 2011,
relating to FOXTEL's proposed acquisition of AUSTAR through a
series of transactions including a scheme of arrangement
(Scheme), that was distributed to AUSTAR Shareholders in
December 2011. A copy of the Scheme Booklet is also available
on AUSTAR's website at www.austarunited.com.au.
Capitalised terms used in this letter, unless otherwise
defined, have the same meaning as set out in the Glossary in
section 13 of the Scheme Booklet.
The Shareholder Meetings, scheduled for 17 February 2012, at
which Shareholders will be asked to approve the Scheme and
related Resolutions, have been postponed. The revised details
of the Shareholder Meetings are:
The Transaction is subject to a number of conditions, including approval from the Australian Competition and Consumer Commission (ACCC). The ACCC's review process has taken longer than was expected. While AUSTAR does not control the timing of this process, we believe that postponing the Shareholder Meetings to 30 March should allow sufficient time for the review to be completed, and a decision to be made, before the meeting.
Lodgement of Proxy Votes• If you have already lodged a proxy form: Proxy forms that have already been validly submitted will remain valid for the rescheduled Shareholder Meetings. If you have completed and submitted a proxy form, and you do not wish to change it, then you do not need to do anything.
If you have completed and submitted a proxy form and you wish
to change your instructions, you can do so by completing and
submitting a replacement proxy form. To be effective, your
replacement proxy form must be received at the address shown
on that form by 3:15pm on 28
March 2012. You can also submit a replacement proxy form
online at www.austarunited.com.au
before that time.
To request a replacement proxy form to be mailed to you
please call the AUSTAR Shareholder
Information Line on 1300 706 158 (within Australia) or on +61
3 9946 4459 (outside Australia).
• If you have not yet lodged a proxy form: If you are unable to attend the Shareholder Meetings on 30 March 2012, you are encouraged to appoint a proxy to vote on your behalf by either: