Melbourne, Jan 27, 2010 (ABN Newswire) - NewSat Limited (
ASX:NWT) (OTC:NWTLY) announces the launch of a Share Purchase Plan (SPP) to raise up to A$5,000,000 by allowing eligible shareholders the opportunity to subscribe for additional shares in NewSat.
The funds raised through the SPP will be used to strengthen NewSat's balance sheet position and to support the growth and continued expansion of NewSat's operations.
Over the last eighteen months NewSat has evolved to an emerging growth satellite communications company that has achieved a number of milestones including proving that high speed satellite broadband in remote regions such as the Kimberley, Western Australia is possible.
NewSat shareholders now hold shares in a company that:
1. Has a strong annuity revenue stream in place in excess of 2 million dollars per month - an increase of over 65% to the 2008 financial year;
2. Has a proven solid foundation for organic growth in a robust market, with average annual revenue per contract of A$29k per contract up over 120% on an average annual per contract basis in comparison to the 2008 financial year;
3. Is improving margins each quarter through efficient cost management and control and is now EBITDA positive;
4. Has ZERO financial debt; and
5. Offers exciting growth potential through the development of Jabiru-1, Australia's first next generation satellite.
The SPP with further enhance NewSat's position as a cash positive emerging growth satellite communications company.
Share Purchase Plan Facts
The SPP will allow eligible shareholders to subscribe for up to $15,000 of NewSat fully paid ordinary shares without incurring any brokerage costs or commissions.
The offer price of shares under the SPP will be calculated as the lower of:
(a) A$0.0052 per share, which represents a 20% discount to the volume weighted average price of NewSat shares traded on the ASX during the period of 5 trading days up to and including the trading day prior to this announcement; and
(b) a 20% discount to the volume weighted average price of NewSat shares traded on the ASX during the period of 5 trading days up to and including the closing date of the SPP.
The Record Date for participation in the SPP is 7.00pm (AEDT) on Wednesday, 27 January 2010. It is anticipated offer documents will be dispatched to eligible shareholders on or around Wednesday, 3 February 2010.
Shares issued under the SPP will rank equally in all respects with existing ordinary shares.
Indicative timetable - key dates
ASX:NWT) (OTC:NWTLY) announces the launch of a Share Purchase Plan (SPP) to raise up to A$5,000,000 by allowing eligible shareholders the opportunity to subscribe for additional shares in NewSat.The funds raised through the SPP will be used to strengthen NewSat's balance sheet position and to support the growth and continued expansion of NewSat's operations.
Over the last eighteen months NewSat has evolved to an emerging growth satellite communications company that has achieved a number of milestones including proving that high speed satellite broadband in remote regions such as the Kimberley, Western Australia is possible.
NewSat shareholders now hold shares in a company that:
1. Has a strong annuity revenue stream in place in excess of 2 million dollars per month - an increase of over 65% to the 2008 financial year;
2. Has a proven solid foundation for organic growth in a robust market, with average annual revenue per contract of A$29k per contract up over 120% on an average annual per contract basis in comparison to the 2008 financial year;
3. Is improving margins each quarter through efficient cost management and control and is now EBITDA positive;
4. Has ZERO financial debt; and
5. Offers exciting growth potential through the development of Jabiru-1, Australia's first next generation satellite.
The SPP with further enhance NewSat's position as a cash positive emerging growth satellite communications company.
Share Purchase Plan Facts
The SPP will allow eligible shareholders to subscribe for up to $15,000 of NewSat fully paid ordinary shares without incurring any brokerage costs or commissions.
The offer price of shares under the SPP will be calculated as the lower of:
(a) A$0.0052 per share, which represents a 20% discount to the volume weighted average price of NewSat shares traded on the ASX during the period of 5 trading days up to and including the trading day prior to this announcement; and
(b) a 20% discount to the volume weighted average price of NewSat shares traded on the ASX during the period of 5 trading days up to and including the closing date of the SPP.
The Record Date for participation in the SPP is 7.00pm (AEDT) on Wednesday, 27 January 2010. It is anticipated offer documents will be dispatched to eligible shareholders on or around Wednesday, 3 February 2010.
Shares issued under the SPP will rank equally in all respects with existing ordinary shares.
Indicative timetable - key dates
------------------------------------------------------------- SPP Record Date 27 January 2010 (7.00pm AEDT) Dispatch of SPP offers 3 February 2010 SPP Opening Date 4 February 2010 SPP Closing Date 25 February 2010 (5.00pm AEDT) Issue of shares under the SPP 4 March 2010 Despatch date for holding statements 9 March 2010 Quotation of shares on ASX 9 March 2010 -------------------------------------------------------------
| Tweet |
About Newsat Limited
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.
|
||
|
 |
Related Companies |
>>>             Newsat Limited |
| |
Related Industry Topics: |
Telecom Carriers | Broadband | Financial General | |
| |
This Page Viewed: (Last 7 Days: 120) (Last 30 Days: 520) (Since Published: 37600) |
Events & Exhibitions
|
Site Search
| ENGLISH All Languages |
Upcoming WebCasts
 | Mr Mark Paton CEO Cue Energy Resources Tuesday, June 12, 2012 |
 | Mr Alan Hopkins CEO Pan Asia Corporation Tuesday, June 12, 2012 |
 | Mr Barry Dawes Martin Place Securities Tuesday, June 12, 2012 |
 | Dr Andrea Grant CEO Living Cell Technologies Monday, July 02, 2012 |
|
Newsat Limited | ||||||
|
|||||||
Companies in the News
Mobile Video TV
|
||
|
||
){kind=link}