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Satnews Daily
August 27th, 2019

Privatization of AsiaSat Approved — To Become Effective in Early September

Bowenvale   Limited   (“Bowenvale”)   and   Asia   Satellite   Telecommunications Holdings Limited (HKSE: 1135; 1135.HK “AsiaSat”)  have jointly announced that the  proposal  for  the  privatization  of  AsiaSat  by  way  of  a  scheme  of  arrangement  (“Scheme”)  has  been  approved  at  the  Court  Meeting  on August 23rd.

Approximately  99.98  percent  of  the  shares  held by the shareholders of the Company other than Bowenvale (the “Scheme Shareholders”) that  were  voted  in  person  or  by  proxy  at  the  Court  Meeting  were voted  in  favor  of  the  privatization  and  a  majority  of  the  shareholders  voting  in  person  or  by  proxy  on  a  headcount  basis  also  voted  in  favour  of  the  privatization.

Subject  to  the  Scheme  becoming  effective,  the  Scheme Shareholders will receive a cancellation price of HK$10.22 per share in cash. Proceeding to the next step of the privatization, AsiaSat will seek the sanction of the Scheme at the court hearing of the petition on August 30, 2019 (Bermuda time).

Assuming the Scheme is approved  by  the  court,  it  is  expected  that  the  Scheme  will  become  effective  on  September 3, 2019  (Bermuda  time),  whereupon  AsiaSat  will  become  a  private,  wholly-owned  subsidiary  of  Bowenvale  and  the  listing  of  the  shares  in  AsiaSat  on  The  Stock  Exchange  of  Hong  Kong  Limited will be withdrawn on September 5, 2019.

For  a  detailed  breakdown  of  shareholder  voting  and  other  information,  please  see  the  joint  announcement by Bowenvale and AsiaSat, available at www.asiasat.com.

Additionally, effective September 1, the AsiaSat offices will relocate to:
15 Dai Kwai Street
Tai Po Industrial Estate NT
Hong Kong

This will become the registered/correspondence address for the following companies: Asia Satellite Telecommunications Company Limited — Asia Satellite Telecommunications Holdings Limited — Skywave TV Company Limited — Auspicious Colour Limited — AsiaSat BVI Limited

AsiaSat's telephone and fax numbers remain unchanged:Tel: (852) 2500 0888 (Switchboard)Fax: (852) 2576 4111 (Main Line)