SATS Accelerates Profitable Growth
SATS’ Proposed Acquisition
of Worldwide Flight Services (WFS)
SATS Extraordinary General Meeting
SATS convened an Extraordinary General Meeting at Singapore EXPO, Hall 1 (APEX) and by way of electronic means on Wednesday, 18 January 2023 at 2:30 pm.
SATS on 28 September 2022 announced a proposed acquisition of WFS, the world’s largest air cargo handling firm, to create a global leader in the aviation services sector. This strategic acquisition will advance SATS’ twin-engine growth strategy, expanding its network and capabilities in Asia and globally, while continuing to strengthen its Singapore core.
Led by SATS, the combined group will have a greater ability to capitalise on growth across the cargo supply chain, and benefit from stronger demand for eCommerce and specialised cargo handling.
Accelerating Growth for SATS
- Expansion of network and capabilities into strategic hubs in Europe and the US, and foundational positions in complementary new growth markets of Latin America and Africa.
- Geographic expansion and increased exposure to the resilient air cargo segment.
- A step change in revenue and EBITDA with strong operating profitability.
Revenue
S$3.8B
FY2022 Pro Forma Revenue
(before SFRS(I) adjustment)
S$3.6B
FY2022 Pro Forma Revenue
(after SFRS(I) adjustment)
EBITDA
S$445M
FY2022 Pro Forma EBITDA
(before SFRS(I) adjustment)
S$697M
FY2022 Pro Forma EBITDA
(after SFRS(I) adjustment)
Strengthening
Business Resilience
At the heart of global trade flows, operating in the world’s busiest airports, and supporting the biggest companies.
More on SATS FinancialsScaling
up Digitalisation and ESG
A comprehensive global network, delivering a greater impact for the environment, our people, and the communities in which we operate.
More on SATS SustainabilityOffer Information Statement dated 2 March 2023
Access to this document is limited to persons who are in Singapore. Each person seeking to access this document must represent and agree as follows prior to such access (terms defined in Regulation S have the same meaning when used herein):
(a) (i) the person is outside the United States, (ii) the person, if any, for whose account the person is acquiring the Rights, the Rights Shares and/or the Excess Rights Shares is outside the United States and, in the case of both (i) and (ii) above, the person is acquiring the Rights, the Rights Shares and/or the Excess Rights Shares in an “offshore transaction” meeting the requirements of Regulation S;
(b) the person is aware that the Rights, the Rights Shares and/or the Excess Rights Shares have not been and will not be registered under the Securities Act and are being distributed and offered outside the United States in reliance on Regulation S; and
(c) the person acknowledges that the Company, the Company’s advisors and their respective affiliates and others will rely upon the truth and accuracy of the foregoing representations and agreements.
Offer Information Statement dated 2 March 2023
Each purchaser of the Rights, the Rights Shares and/or the Excess Rights Shares offered and sold outside the U.S. and in reliance on Regulation S will be deemed to have represented and agreed as follows (terms defined in Regulation S have the same meanings when used herein):
(a) (i) the purchaser is outside the United States, (ii) the person, if any, for whose account the purchaser is acquiring the Rights, the Rights Shares and/or the Excess Rights Shares is outside the United States and, in the case of both (i) and (ii) above, the purchaser is acquiring the Rights, the Rights Shares and/or the Excess Rights Shares in an “offshore transaction” meeting the requirements of Regulation S;
(b) the purchaser is aware that the Rights, the Rights Shares and/or the Excess Rights Shares have not been and will not be registered under the Securities Act and are being distributed and offered outside the United States in reliance on Regulation S; and
(c) the purchaser acknowledges that the Company, the Company’s advisors and their respective affiliates and others will rely upon the truth and accuracy of the foregoing representations and agreements.
Offer Information Statement dated 2 March 2023
Access to this document is limited to persons who are in Singapore. Each person seeking to access this document must represent and agree as follows prior to such access (terms defined in Regulation S have the same meaning when used herein):
(a) (i) the person is outside the United States, (ii) the person, if any, for whose account the person is acquiring the Rights, the Rights Shares and/or the Excess Rights Shares is outside the United States and, in the case of both (i) and (ii) above, the person is acquiring the Rights, the Rights Shares and/or the Excess Rights Shares in an “offshore transaction” meeting the requirements of Regulation S;
(b) the person is aware that the Rights, the Rights Shares and/or the Excess Rights Shares have not been and will not be registered under the Securities Act and are being distributed and offered outside the United States in reliance on Regulation S; and
(c) the person acknowledges that the Company, the Company’s advisors and their respective affiliates and others will rely upon the truth and accuracy of the foregoing representations and agreements.
Offer Information Statement dated 2 March 2023
Each purchaser of the Rights, the Rights Shares and/or the Excess Rights Shares offered and sold outside the U.S. and in reliance on Regulation S will be deemed to have represented and agreed as follows (terms defined in Regulation S have the same meanings when used herein):
(a) (i) the purchaser is outside the United States, (ii) the person, if any, for whose account the purchaser is acquiring the Rights, the Rights Shares and/or the Excess Rights Shares is outside the United States and, in the case of both (i) and (ii) above, the purchaser is acquiring the Rights, the Rights Shares and/or the Excess Rights Shares in an “offshore transaction” meeting the requirements of Regulation S;
(b) the purchaser is aware that the Rights, the Rights Shares and/or the Excess Rights Shares have not been and will not be registered under the Securities Act and are being distributed and offered outside the United States in reliance on Regulation S; and
(c) the purchaser acknowledges that the Company, the Company’s advisors and their respective affiliates and others will rely upon the truth and accuracy of the foregoing representations and agreements.