Speedcast International Ltd Stock Market Press Releases and Company Profile
SDA completes AUD61M equity raising
SDA completes AUD61M equity raising

London, Aug 9, 2016 AEST (ABN Newswire) - SpeedCast International Limited (googlechartASX:SDA) ("SpeedCast"), a leading global satellite communications and network services provider, today announces the successful completion of a placement of ordinary shares to institutional investors ("First Placement Tranche"), as announced to the market on 8 August 2016.

The First Placement Tranche raised approximately AUD 61.2 million through the issue of 17.3 million new shares at an issue price of AUD 3.54 per share, representing a 3.5% discount to the last closing share price of AUD 3.67 on 5 August 2016.

Proceeds under the First Placement Tranche will be used to partially fund the acquisition of WINS Limited ("WINS") from Eutelsat Communications (googlechartEPA:ETL) (googlechartETCMY:OTCMKTS) (googlechartEUTLF:OTCMKTS) and Maltasat for all-cash consideration of EUR 60.0 million (USD 66.9 million). Details are provided in SpeedCast's announcement lodged with ASX on 8 August 2016.

Commenting on the outcome of the First Placement Tranche, SpeedCast's Chief Executive Officer, Mr Pierre-Jean Beylier said: "We are very pleased with the outcome of the First Placement Tranche, which shows strong support for the acquisition of WINS as well as our growth strategy more broadly.

We thank our existing shareholders for their continued backing and we are also very pleased to welcome a number of new institutions to the SpeedCast register."

The First Placement Tranche is expected to settle on Thursday, 11 August 2016, and shares issued under this tranche will be allotted on the following business day, Friday, 12 August 2016.

Shareholder approval is not required for the issue of shares under the First Placement Tranche, and all shares issued under the First Placement Tranche will rank equally with all other existing fully paid ordinary shares at the time of issue.

SpeedCast has requested that the current trading halt applicable to its quoted shares be lifted immediately following the release of this announcement.

Second Placement Tranche & Share Purchase Plan

Second Placement Tranche

A second placement tranche of AUD 1.7 million in new fully paid ordinary shares will be issued to SpeedCast's Chief Executive Officer, Mr Pierre-Jean Beylier (the "Second Placement Tranche"), at the same price as the First Placement Tranche. At the issue price of AUD 3.54 per share, this represents 480,225 shares. The issue of shares under the Second Placement Tranche is subject to shareholder approval being obtained at an Extraordinary General Meeting to be held on or about 21 September 2016.

A notice of meeting and explanatory statement with further information about the Second Placement Tranche and shareholder approval required under ASX Listing Rule 10.11 will be sent to SpeedCast shareholders in due course.

All shares issued under the Second Placement Tranche will rank equally with all other existing fully paid ordinary shares at the time of issue.

Share Purchase Plan

In addition to the placement, SpeedCast intends to offer a non-underwritten Share Purchase Plan ("SPP") to eligible shareholders in Australia and New Zealand. Further details in relation to the SPP will be provided to eligible shareholders in due course.

About Speedcast International Ltd

Speedcast InternationalSpeedcast International Ltd (ASX:SDA) is the world's most trusted communications and IT services provider, delivering critical communications solutions to the Maritime, Energy, Mining, Media, Telecom, Cruise, NGO, Government, and Enterprise sectors. With more satellite capacity than any other provider, Speedcast enables faster, seamless pole-to-pole coverage from a global hybrid satellite, fiber, cellular, microwave, MPLS, and IP transport network with direct access to public cloud platforms. The company also integrates differentiated technology offerings that provide smarter ways to communicate and distribute content, manage network and remote operations, protect and secure investments, and improve the crew and guest experience. With a passionate customer focus and a strong safety culture, Speedcast serves more than 3,200 customers in over 140 countries. Learn more at www.speedcast.com.

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Contact

Investors:
Ian Baldwin
Chief Financial Officer
SpeedCast International Limited
Phone: +61-432-680-746
Email: ian.baldwin@speedcast.com

Media:
Clara So
Marketing Director
SpeedCast International Limited
Phone: +852-3919-6800
Email: clara.so@speedcast.com



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