13th Jun 2007 07:00
Inmarsat PLC12 June 2007 Press release London, UK: 12 June 2007. Inmarsat plc (LSE:ISAT, "Inmarsat") notes the outcome of the Stratos GlobalCorporation ("Stratos") Extraordinary General Meeting today at whichshareholders voted to support the cash offer made by CIP Canada Investment Inc("CIP Canada"), a fully owned subsidiary of Communications Investment PartnersLimited ("CIP"), to acquire the entire issued share capital of Stratos. Inmarsat Finance III Limited ("Inmarsat III"), a wholly owned subsidiary ofInmarsat, has agreed to provide a loan of up to US$275 million to fund theacquisition ("Transaction") by CIP Canada and to pay fees and expenses of theTransaction. Subject to the receipt of regulatory approvals for the Transaction,Inmarsat III will be granted an option to acquire Stratos ("Call Option") oncompletion of CIP Canada's acquisition of Stratos. Inmarsat III's Call Optionbecomes exercisable in April 2009, when certain of Inmarsat's distributionagreements expire. Pending regulatory approvals, Inmarsat expects the offer made by CIP Canada toclose by the end of the third quarter. ______________ Forward-looking Statements Certain statements in this announcement constitute "forward-looking statements"within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.These forward-looking statements involve risks, uncertainties and other factorsthat may cause our actual results, performance or achievements, or industryresults, to be materially different from those projected in the forward-lookingstatements. These factors include: general economic and business conditions;changes in technology; timing or delay in signing, commencement, implementationand performance of programmes, or the delivery of products or services underthem; structural change in the satellite industry; relationships with customers;competition; and ability to attract personnel. You are cautioned not to rely onthese forward-looking statements, which speak only as of the date of thisannouncement. We undertake no obligation to update or revise any forward-lookingstatement to reflect any change in our expectations or any change in events,conditions or circumstances. About Inmarsat: Inmarsat plc (LSE:ISAT) is the leading provider of global mobile satellitecommunications. Since 1979, Inmarsat has been providing reliable voice andhigh-speed data communications to governments, enterprises and otherorganisations, with a range of services that can be used on land, at sea or inthe air. The company's services are delivered through a global network of morethan 500 distribution partners and service providers operating in 180 countries.For the year ended 31 December 2006, Inmarsat plc had total revenue of US$500.1million and profit before tax of US$89.8 million. Contacts: Media Enquiries: Inmarsat: Chris McLaughlin: Tel: +44 7728 1015; [email protected] Finsbury: Edward Simpkins Tel: +44 20 7251 3801, mobile: 07947 740 551 Investor Enquiries: Simon Ailes: Tel: +44 20 7728 1518 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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