THAI confirms no effects from Tiger Airways shares sold
19-Aug-2010 Mr. Piyasvasti Amranand, THAI President, announced today that there is no effect to the ThaiTiger Airways from the sale of approximately 66 Million shares or 12.3% of Tiger Airways shares by the two substantial shareholders, Indigo Singapore Partner, L.P. and Ryan Asia Limited, and one of its Directors, Mr. Tony Davis, President and Group CEO of the Company.
The total shares sold were at just 4% lower than the market price to institutional investors of Singapore signalling investor's continued confidence in the Company's prospect Tiger Airways Holdings Limited had released the announcement to investors through the Singapore Stock Exchange that the sale of the shares was due to Tiger Airways having better performance, causing an increase in the value of the shares by over 30% from February 2010, when it was listed on Singapore Stock exchange at SGD 1.50 per share to SGD 1.90 per share today. The shares were not able to be sold before now this due to the Lock up period of Singapore Stock Exchange.
Indigo Partners and Ryanasia Principal continue to be substantial shareholders of Tiger Airways Holdings Limited. Mr. Declan Ryan , Ryanasia principal remains committed to being a Director of ThaiTiger Airways Company Limited and Tiger Airways CEO, Mr. Tony Davis continues to have a significant financila commitment to the company. This move will not affect ThaiTiger Airway
Both parties will continue to work on the setting up of the new low cost airline, ThaiTiger Airways Company Limited. Thai Airways International has already submitted its report of the establishment of ThaiTiger Airways Company Limited to the Ministry of Transportation since 18 August 2010.