Skywest to consider AIM/ASX dual listing
The directors of Western Australia-based Skywest have responded to recent speculation that the company may be considering moving trading of its shares to the Australian Securities Exchange (ASX) by emphasising that it remains committed to its listing on the AIM market but is considering a dual listing in Australia.
The Directors believe that a dual listing may enable Australian investors to compare Skywest with other ASX-listed airline stocks and may also help increase liquidity in the Company’s shares. “We continue both to put our shareholders first and to explore avenues to grow our shareholder and investment base," commented chairman Jeff Chatfield. "The Company is trading at a low price-to-earnings ratio and we are exploring opportunities, including a dual listing, to try and address this”
Meanwhile, the board of Skywest has announced that on 12 May 2009, the company purchased for cancellation 800,000 ordinary shares in the company at a price of 6.5 pence per ordinary share through the market. The repurchased ordinary shares will be cancelled from trading on AIM. Accordingly, the reduced issued share capital admitted to trading on AIM will amount to 195,500,000 ordinary shares.