NewSat Limited (ASX:NWT) Board Of Directors Response To Takeover Announcement
Melbourne, Sep 3, 2009 AEST (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.
Contact
Adam Shapiro
Company Secretary / Chief Financial Officer
Melbourne Principal Office
Tel: +61-3-9674-4644
Fax: +61-3-9674-4655
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