Singapore Exchange Ltd. · SGX:S68
Singapore Exchange — Tiger Airways Holdings — Investor Presentation (March 2013)
13 slides from Singapore Exchange's investor presentation, Mar 5, 2013
Slide 1: Tiger Airways Holdings Limited: Announcement of Rights Issue and Preferential Offering
Not for release, publication or distribution in the United States tiger airways holdings limited announcement of rights issue and preferential offering of perpetual convertible capital securities 5 March 2013 This presentation is not an offer for sale of securities into the United States or elsewher
Slide 2: Summary of Proposed Offering, Rationale and Use of Proceeds, Appendix
1 Summary of Proposed Offering 2 Rationale and Use of Proceeds 3 Appendix 1
Slide 3: Summary of Proposed Offering
Summary of Proposed Offering Offer Structure Renounceable Rights Issue of Price: SGD 0.47 Ordinary Shares Size: SGD 77M Discount: 30% to TERP and 34% to 4 March 2013 close of SGD 0.715 Rights Ratio: 1 rights share for every 5 existing shares Non-Renounceable Preferential Issue Price: 100% of the pri
Slide 4: Offering Structure
Offering Structure Higher Average Issuance Prices Offer Price of Rights Issue vs. PCCS Conversion Shares Strengthens our financial SGD position via raising equity Raises capital at a lower cost of 0.775 capital 0.658 0.470 Allows participation by all shareholders in both the Rights Issue and Prefere
Slide 5: Irrevocable Undertakings from Our Major Shareholders
Irrevocable Undertakings from Our Major Shareholders Singapore Airlines − Pro-rata undertaking of rights offering and PCCS offering − Vote in favour of the resolution at EGM − Undertaking to take up excess of PCCS offering of up to 138,254,087 PCCS and any additional excess right shares up to a tota
Slide 6: Rationale and Use of Proceeds
1 Summary of Proposed Offering 2 Rationale and Use of Proceeds 3 Appendix 5
Slide 7: Use of Proceeds
Use of Proceeds Objectives Initiatives Strengthen financial Repayment of existing loans SGD 80M to 100M position by raising equity Fund the Group’s Funding / investment in new or SGD 70M to 90M growing operations existing airlines and/or ventures Funding for aircraft, spare SGD 60M to 80M engines &
Slide 8: Funding for Tiger's Expansion Plans
Funding for Tiger’s Expansion Plans Philip- Expand fleet with pines 25 new aircraft to be delivered by September 2015 Singapore Expand group network Indo- nesia Australia Grow Tiger’s franchise in Asia Source: Company Website 7
Slide 9: Funding for Tiger's Expansion Plans (cont'd)
Funding for Tiger’s Expansion Plans (cont’d) Our Cub Strategy Singapore Australia* Philippines Indonesia Ownership 100% 40% of Tiger Airways 40% of SEAir 33% of Mandala Australia Airlines Current A320 A320 A320 A319 A320 Fleet Strategy Extend market Collaborate with Leverage Tiger brand to grow in t
Slide 10: Strengthen Balance Sheet by Reducing Leverage
Strengthen Balance Sheet by Reducing Leverage Liquidity Net Gearing (Cash & Cash Equivalent / Preceding 12-Months Revenue) As of December 2012 1.80x 44.8% 43.5% 38.3% 28.3% 19.2% 7.1% 0.19x (1) (3) 31-Dec-12 (Actual) 31-Dec-12 (Pro Forma) Tiger AirAsia Thai Cebu Qantas Tiger (2) Airways AirAsia Paci
Slide 11: Appendix
1 Summary of Proposed Offering 2 Rationale and Use of Proceeds 3 Appendix 10
Slide 12: Plan for Continued Growth
Plan for Continued Growth Strong Available-Seat-Kilometres Growth Strong Revenue Growth M SGD M Attractive Growth Since Inception 12,096 787 10,447 9,583 622 618 Australia 7,847 Grounding 486 6,459 378 5,047 304 2008 2009 2010 2011 2012 LTM 2008 2009 2010 2011 2012 LTM Dec-12 Dec-12 Source: Annual R
Slide 13: Thank You / Disclaimer
thank you Disclaimer These materials are not a prospectus, offering information statements or other offering documents. These materials have been prepared by Tiger Airways Holdings Limited (the “Company”) and the information herein has not been independently verified. No representation or warranty,
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