[0] Signature Flight Support Corporation Extends Tender Offer for 11% Senior Notes of Aircraft Service International Group, Inc.Business Editors ORLANDO, Fla.--(BUSINESS WIRE)--May 22, 2001 Signature Flight Support Corporation ("Signature") today announced that it has extended the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of its tender offer and consent solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with for the 11% Senior Notes due 2005 (the "Securities") of Aircraft Service International Group, Inc. ("ASIG ASIG Association Suisses et Internationaux de Genève (Geneva Swiss International Association; Geneva, Switzerland) ASIG Aerospace Special Interest Group ASIG Africa Special Interest Group ") until 5:00 P.M., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on May 23, 2001, unless otherwise extended. As of 4:00 P.M., New York City time, on May 22, 2001, $80 million in aggregate principal amount, or 100%, of the outstanding Securities had been validly tendered pursuant to the offer and consent solicitation. Signature is making the offer and consent solicitation in connection with its pending acquisition of Ranger Aerospace Corporation (the "Merger"), the parent company of ASIG ("Ranger"), pursuant to an Agreement and Plan of Merger dated November 14, 2000, as amended on February 20, 2001 ("Merger Agreement"). Following completion of the Merger, ASIG will become a wholly owned indirect subsidiary of Signature. The offer is conditioned upon, among other things, the consummation of the Merger. The consummation of the Merger is subject to, among other things, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act The Hart-Scott-Rodino Antitrust Improvements Act of 1976 (Public Law 94-435, known commonly as the HSR Act) is a set of amendments to the antitrust laws of the United States, principally the Clayton Antitrust Act. The HSR Act was signed into law by President Gerald R. of 1976, as amended (the "HSR HSR homogeneously staining regions. Act"), which waiting period has not yet expired. The Department of Justice is currently reviewing the Merger under the HSR Act. In addition, Signature has informed Ranger that certain conditions to the consummation of the Merger relating to the representations and warranties of Ranger contained in the Merger Agreement can no longer be satisfied, and therefore that it no longer is obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to close the Merger. Signature and Ranger have been in discussions regarding such conditions and have reached a tentative agreement in principal that addresses those conditions. Absent the execution of a definitive agreement reflecting such agreement in principal between Ranger and Signature, it is unlikely the Merger will be consummated. If a definitive agreement is entered into, it is expected that Signature will mail to holders of the Securities a supplement to the Offer to Purchase containing amendments to the terms of the tender offer and providing additional information. Morgan Stanley Dean Witter acts as Dealer Manager for the tender offer. The Information Agent is MacKenzie Partners, Inc., and the Depositary is State Street Bank and Trust Company The State Street Bank and Trust Company is a bank. It was a subsidiary of the State Street Corporation, until it sold off the retail banking portion of this unit in 1999 to Citizens Financial Group (a subsidiary of the Royal Bank of Scotland), of Providence, RI. . Persons with questions regarding the tender offer should contact the Information Agent at (800) 322-2885 or the Dealer Manager at (800) 624-1808. This announcement is not an offer to purchase, a solicitation of an offer to purchase nor a solicitation of consents with respect to the Securities. The offer is made only by an Offer to Purchase and Consent Solicitation Statement dated January 4, 2001 and the related Letter of Transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. and Consent. |
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