ANA Holdings Inc. (ANA.L,ALNPF.PK,ALNPY.PK), Integral Corp. and UDS Airline Investment Business Limited Partnership announced they will jointly support Skymark Inc., which is currently undergoing a civil rehabilitation proceedings. The parties have concluded a Sponsorship Agreement. The Agreement stipulates the conditions of the joint sponsorship in order to achieve the revitalization of the business as an independent corporation, with a goal of Skymark re-listing on the stock market within 5 years.
ANAHD, Integral and UDS have signed a Shareholders' Agreement regarding the management of Skymark. The Agreement stipulates the operation and capital policy of Skymark.
Under a proposed rehabilitation plan, which was submitted to the Tokyo District Court, Skymark will perform a 100% capital reduction. After a confirmation of the proposed Plan becoming final and binding, Skymark will perform a capital increase through allocation of new shares and Integral, ANAHD and UDS will subscribe to these new shares and become new shareholders. The total amount of investment is planned to be 18 billion Japanese yen. As per the terms, the employment of Skymark's employees will be maintained.
It is planned that Skymark will code share with ALL NIPPON AIRWAYS CO., LTD., a subsidiary of ANAHD.
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