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Wednesday, December 24, 2008

Mesa Defers Stock Question

A special meeting of Mesa Air Group stockholders was adjourned on Monday until the new year as shareholders consider three proposals to repurchase senior convertible notes due in 2023 and 2024; to approve issuance of new shares of common stock so that an entity can purchase 20 percent of outstanding common stock; and to approve an amendment to the company’s articles of incorporation increasing the number of authorized shares from 75 million to 900 million. The continuation of the special meeting is set for January 6 and 4 pm. The approval of the first two proposals require a vote of a majority of shares in the company’s common stock represented at the meeting while a vote of a majority of common shares outstanding is required to approve the third proposal.

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