NewSat Limited (ASX:NWT) Appoints New Directors To The Board

NewSat Limited (ASX:NWT) (OTC:NWTLY) Australia's largest independent satellite communications company recorded its maiden positive EBITDA for the first half of the 2010 financial year and wishes to advise the market of the appointment of 2 new directors, ratified by the Board of Directors and effective today, further progressing the companies development and growth.

NewSat Chairman Richard Green welcomed both new Directors to the Board noting the complimentary skills the new Directors bring to NewSat.

"With the evolution to an emerging growth satellite communications company and consistent day on day progress to make Jabiru-1, Australia's first next generation commercial satellite, the Board has expanded its advisory with two key leader's in their respective fields,' said NewSat Chairman Richard Green.

'Both of these appointments will provide excellent direction to our growing month on month business and global strategic business development initiatives as they bring a variety of skills, contacts and experience."

The two new directors with extensive media, sales and financial services experience include;

Mark Fishwick

An out-of-home ("OOH") media veteran with 30 years global experience founding many well known brand names including;
Nettlefold/NLD/Boyd (now Eye Corp), Cody (now APNO) and Claude Group.

Currently Mark is the group managing director of Ambient Advertising, Chairman of Blue Media Group, Captive Vision Network and Plasma-OOH Indonesia.

"NewSat already has the largest digital media satellite multicasting network for a retail store chain in Australia in place, across 800 Woolworths stores. This network is a great case study to how digital content can be streamed cost effectively. I look forward to assisting NewSat in strengthening their sales pipeline of opportunities in this space and further developing these verticals in the Australasia and South East Asia marketplaces that will open doors for NewSat and Jabiru-1 to sell into," said NewSat Director Mark Fishwick.

Andrew Plympton

An active entrepreneur with extensive experience in the financial services sectors, sports administration and listed companies, including CEO of two Global Insurance Broking Firms and successful long term President of the St Kilda Football Club. Currently Andrew is an Executive Member and Director of The Australian Olympic Committee, President of Yachting Australia Inc., and is non-executive Chairman of 4 other Boards (2 ASX listed companies).

"Andrew's strong financial experience, networking and negotiating skills will further enhance the company's profitability and leadership to launch Jabiru-1. One of the highest risks and most costly components of the Jabiru program will be the levels of insurance. Andrew's knowledge and long standing global relationships in this arena will be of enormous value to the program," said Green.

In line with NewSat's announcement on the 18th of August 2009 regarding strategic initiative reviews, these additional appointments will further aid shareholder value and provide greater strength to the company.

NewSat's monthly recurring revenue continues to grow inline with recent announcements and is further enhancing a positive EBITDA. The company is in substantial negotiations for specialised long-term contracts with a range of existing clients and will update the market accordingly.

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.

 

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Newsat Limited