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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Newsat Limited       AU000000NWT0

NEWSAT LIMITED

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Newsat Limited : NewSat receives Malaysian satellite regulator's confirmation

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12/29/2013 | 07:30pm EDT


ASX Release
30 December 2013

NEWSAT RECEIVES MALAYSIAN SATELLITE REGULATOR'S CONFIRMATION NewSat Limited (ASX: NWT) (OTCQX: NWTLY), Australia's satellite company, advises that it has received a copy of the confirmation letter issued by the Malaysian Communications and Multimedia Commission (MCMC) to MEASAT Satellite Systems Sdn Bhd (MEASAT) with respect to the use of the orbital slot 91.5°E for the

Jabiru-1 satellite.
As part of the transaction with MEASAT, in which MEASAT agreed to purchase US$197 million of Jabiru-1 satellite capacity payable over the 15 year life of the satellite, NewSat agreed to locate the satellite in an orbital slot held by MEASAT at 91.5°E, providing coverage over both MEASAT's and NewSat's target markets. Use of this orbital slot for the satellite owned by NewSat required the confirmation of the MCMC.
The confirmation letter issued by the MCMC is the last of the conditions precedent requiring input from a party other than the lenders or NewSat.
This confirmation finalises the export credit process. NewSat will now submit documentation demonstrating it has satisfied the Export Credit Agencies' conditions precedent to allow drawdown on the facilities to complete the construction of its Jabiru-1 satellite for launch in 2015. As previously announced, part of the submission will include a limited number of waivers of other conditions which have been agreed with the lenders.
***

About NewSat:

NewSat is Australia's largest pure-play satellite communications company, delivering internet, voice, data and video communications via satellite. With its unique-to-Australia teleport infrastructure, NewSat provides a full range of managed satellite communication services and has established a reputation as the partner of choice for governments, corporations and private enterprises. Today, NewSat has the ability to provide coverage to
75% of the globe; from Australia, Asia, the Middle East, Africa, across the Indian Ocean extending into Europe and across the Pacific Ocean, reaching into the West coast of the USA.
NewSat's world acclaimed teleports in Perth (Western Australia) and Adelaide (South Australia) were Top 3
Finalists in the World Teleport Association's 2012 and 2010 "Awards for Excellence" and made the 2013,
2012 and 2011 "Top Operator Rankings". Both teleports are accredited to supply services to the Australian
Department of Defence and are recognised as highly secure Global Access Points, supporting certified classified networks to ensure the transmission of vital and sensitive information for government clients.
NewSat will be expanding its satellite capabilities with the Jabiru Satellite Program, beginning with the launch and operation of Jabiru-1, Australia's first commercial Ka-band satellite. Jabiru-1, a large next generation satellite, will provide superior coverage over South East Asia, the Middle East and North Africa. At 70% utilisation, the Jabiru-1 satellite is expected to generate in excess of US$3 billion of revenue over 15 years at
85% margins. To date, Jabiru-1 has secured US$618 million of pre-launch customer contracts and a US$454 million forward sales pipeline. Jabiru-2, scheduled for launch in 2014, will deliver enhanced coverage over Australia, Timor Leste and Papua New Guinea. NewSat has rights to eight premium orbital slots and its fleet of next generation geostationary satellites will lead Australia's space quest. For more information, please visit www.newsat.com

For further information: Investors

Adrian Ballintine, Founder & Chief Executive Officer
Michael Hewins, Chief Financial Officer & Company Secretary
Kahina Koucha, Investor Relations Manager: +61 3 9674 4636

Media

Merv Kuek, SVP Marketing & Corporate Communications: +61 3 9674 4644

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Income Statement Evolution
Managers
NameTitle
Michael Hewins Chief Financial Officer & Secretary
Chiat Kwong Ching Non-Executive Director
Roderic Noel Anthony Sage Independent Non-Executive Director
Frederick Sheppard Grimwade Independent Non-Executive Director
Patrick S. McVeigh Independent Non-Executive Director
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