ELKHART, Ind., May 17, 2018 /PRNewswire/ -- Skyline Corporation
(NYSE American: SKY) ("Skyline"), a designer, producer, and marketer of manufactured housing, modular housing, and park models,
has announced its intent to transfer the trading of its common stock, $0.0277 par value per share,
to the New York Stock Exchange ("NYSE") from the NYSE American. The transfer of the listing is being conducted in
connection with the previously announced Share Contribution & Exchange Agreement dated as of January 5, 2018 (the
"Exchange Agreement") between Skyline and Champion Enterprises Holdings, LLC.
In this regard, as previously announced, on May 8, 2018, Skyline filed an application for the
listing of its common stock on the NYSE. Pending approval of the application, Skyline anticipates that the common stock of
Skyline Champion Corporation, the combined company after giving effect to the transactions contemplated by the Exchange Agreement
(the "Exchange"), will begin trading on the NYSE under the trading symbol "SKY" upon the completion of the Exchange, which is
expected to occur in the first half of 2018. Until that time, Skyline's common stock will continue to trade on the NYSE
American under the trading symbol "SKY."
About Skyline Corporation
Skyline Corporation and its consolidated subsidiaries design, produce, and market manufactured housing, modular housing, and
park models to independent dealers, developers, campgrounds, and manufactured housing communities located throughout the United States and Canada. The company has eight manufacturing
facilities in seven states. Skyline Corporation was originally incorporated in Indiana in 1959,
as successor to a business founded in 1951, and is one of the largest producers of manufactured and modular housing in
the United States. For more information, visit http://www.skylinecorp.com.
About Champion Enterprises Holdings, LLC
Champion Enterprises Holdings, LLC was formed in 2010 as the parent company of Champion Home Builders, Inc. which was founded
in 1953. Champion Home Builders specializes in a wide variety of manufactured and modular homes, park-model RVs and modular
buildings for the multi-family, hospitality, senior and workforce housing sectors. The company operates 28 manufacturing
facilities throughout North America. Additionally, Champion operates a factory-direct retail
business, Titan Factory Direct, with 21 retail locations spanning the southern U.S., and Star Fleet Trucking, providing
transportation services to the manufactured housing industry from 10 dispatch locations across the
United States. Champion is majority owned by funds affiliated with Bain Capital Credit (https://www.baincapitalcredit.com), Centerbridge Partners, L.P. (https://www.centerbridge.com), and MAK Capital. For more information, visit
https://www.championhomes.com.
Forward-Looking Statements
Except for historical information contained herein, this document expresses "forward-looking statements" which are intended to
be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995, as
amended. Such matters include forward-looking statements regarding the prospective effects and timing of the proposed Exchange.
Generally, the words "believe," "expect," "intend," "estimate," "project," "will," and similar expressions indicate
forward-looking statements. Those statements, including statements, projections, estimates, or assumptions concerning future
events or performance, and other statements that are other than statements of historical fact, are subject to material risks and
uncertainties. Skyline cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the
date made. Skyline may make other written or oral forward-looking statements from time to time. Readers are advised that various
important factors could cause Skyline's actual results or circumstances for future periods to differ materially from those
anticipated or projected in such forward-looking statements. Such factors, among others, include, but are not limited to:
potential failure to obtain Skyline shareholder approval of the Exchange-related proposals; potential failure to satisfy
conditions to the consummation of the Exchange on the proposed terms and within the proposed timeframes; costs or difficulties
relating to integration matters might be greater than expected; material adverse changes in Skyline's operations or earnings;
changes in laws, regulations, or accounting principles generally accepted in the United States;
the effect of the recently enacted Tax Cuts and Jobs Act on Skyline and its subsidiaries; Skyline's competitive position within
the markets it serves; unforeseen downturns in the local, regional, or national economies or in the specific regions in which
Skyline has market concentrations; and other risks discussed in Skyline's filings with the SEC, including its Annual Report
on Form 10-K, which filings are available from the SEC. Skyline undertakes no obligation to publicly update
or revise any forward-looking statements except as required by law.
Additional Information for Shareholders
In connection with Skyline's special meeting of shareholders scheduled for May 29, 2018, Skyline has filed with the SEC
and furnished to Skyline's shareholders a definitive proxy statement dated April 25, 2018. The proxy statement contains
important information about the Exchange-related matters to be voted on by Skyline's shareholders at the special meeting (the
"Company Shareholder Approval Matters"). SKYLINE'S SHAREHOLDERS ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE
SEC, INCLUDING THE DEFINITIVE PROXY STATEMENT REGARDING THE PROPOSED EXCHANGE (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS)
CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY SHAREHOLDER APPROVAL MATTERS AND THE
PROPOSED EXCHANGE. Skyline's shareholders can obtain, without charge, a copy of the definitive proxy statement and other
relevant documents filed with the SEC from the SEC's website at www.sec.gov.
Skyline's shareholders also can obtain, without charge, a copy of the definitive proxy statement and other relevant documents by
directing a request by mail or telephone to Skyline Corporation, 2520 By-Pass Road, P.O. Box 743, Elkhart, Indiana 46514, Attention: Corporate Secretary, or by
calling (574) 294-6521, or from Skyline's website at www.skylinecorp.com under the tab "Investors – SEC Filings." The information available through Skyline's website
is not and shall not be deemed part of this Current Report on Form 8-K or incorporated by reference into
other filings Skyline makes with the SEC. This communication does not constitute an offer to sell or the solicitation of an offer
to buy any securities or a solicitation of any vote or approval.
This communication is not a solicitation of proxies in connection with the proposed Exchange. However, Skyline and its
directors and officers may be deemed to be participants in the solicitation of proxies from Skyline's shareholders with respect
to the special meeting of shareholders that will be held to consider the Company Shareholder Approval Matters in connection with
the Exchange. Information concerning the ownership of Skyline securities by Skyline's directors and executive officers is
included in their SEC filings on Forms 3, 4 and 5 and additional information about Skyline's directors and executive
officers and their ownership of Skyline's common stock is set forth in Skyline's definitive proxy statement dated April 25,
2018 in connection with the special meeting. Shareholders may obtain additional information regarding the interests of Skyline
and its directors and executive officers in the proposed Exchange, which may be different than those of Skyline's shareholders
generally, by reading the definitive proxy statement and other relevant documents regarding the proposed Exchange, as filed with
the SEC. These documents can be obtained free of charge from the sources indicated above.
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SOURCE Skyline Corporation