Melbourne, Sep 3, 2009 (ABN Newswire) - NewSat Limited (ASX:NWT)(OTC:NWTLY) has this morning received a letter dated 3 September 2009 from EWC Payments Pty Ltd, a copy of which was copied to ASX. This letter advises of a formal off-market scrip for scrip takeover offer to be made by that company for 100% of the shares of NewSat Ltd.
NewSat Ltd had no prior knowledge or notice of this takeover offer, nor of EWC Payments Pty Ltd. It notes that this company has paid share capital of A$10.00.
The Board of NewSat Ltd has met to consider this offer. It recommends that shareholders not accept the offer, assuming that a bidder's statement is, in due course, received.
NewSat Limited (ASX:NWT) provides a full range of managed communication services, TT & C and carrier monitoring from its teleports in Perth and Adelaide to Australia/Oceania, Asia, the Middle East and Africa.
Utilising the latest generation satellite and VSAT technology, NewSat offers end-toend, affordable, high-speed, two-way satellite broadband communication services, products and solutions to broadcasters, cable programmers, news agencies, telecommunication carriers, Internet service providers, corporations, governments and distance-learning networks. In addition, NewSat Networks operates multiple Broadband IP Services based on technologies developed by ViaSat, Gilat, Hughes, Comtech and iDirect.
Services are available on a wide range of satellites accessible from the Perth and Adelaide facilities. Antenna sizes ranging from 3.7 to 13m are available in addition to all the necessary RF and conversion equipment. Customers may co-locate equipment in these facilities, or NewSat can provide an end-to-end service.
Contact
Adam Shapiro Company Secretary / Chief Financial Officer Melbourne Principal Office Tel: +61-3-9674-4644 Fax: +61-3-9674-4655
Newsat Limited
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