Melbourne, Mar 2, 2010 (ABN Newswire) - The Directors of NewSat Limited (ASX:NWT) (OTC:NWTLY) are very pleased with the response from eligible shareholders to the Share Purchase Plan ("SPP"), the results of which will soon be announced.
The issue price, being a 20% discount on the value weighted average price of NewSat shares for the 5 trading days up to and including Thursday, 25 February 2010, for the shares to be issued under the SPP is A$0.0037.
Due to certain logistical matters, the Allotment Date under the SPP will now be Tuesday, 9 March 2010. Holding statements are expected to be dispatched on Wednesday, 10 March 2010.
SPP applicants will be able to confirm their holdings on or after Tuesday, 9 March 2010 by calling the Offer Information Line (within Australia on 1300-152-426 or outside Australia on +61-3-9415-4018) or by going to;
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.