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Satnews Daily
March 9th, 2012

NewSat Limited... Signing For Slots (Satellites)

[SatNews] NewSat Limited (ASX: NWT) has entered into an agreement with...

...AP Kypros Satellites Limited for an additional orbital slot and expanded frequencies in existing slots. The agreement further strengthens and extends the relationship between the two companies and is subject to regulatory approval. The agreement for the eighth orbital slot adds five additional orbital filings and rights to future filings in certain regions as they are made available. The additional orbital slot, and the expansion of frequencies in the existing seven orbital slots, enables more satellites to be launched and operated, along with the provision of larger more flexible satellites.

NewSat will pay consideration in the form of cash and shares in two instalments, with the first instalment being made on execution of the agreement and the second as required regulatory approvals are received. The financial terms are confidential and are expected to be released at a later date.