Satnews Daily
September 19th, 2016

Expressions Of Interest Being Received By Norsat International

In these days of acquisitions and mergers, new MOUs and partnership agreements, all initiated to strengthen SATCOM business around the world when times are not as positive as one might wish, a firm has indicated there have been "indications of interest" from multiple parties as to a strategic transaction of some form.

The company involved is Norsat International Inc. (TSX: NII and NYSE MKT: NSAT) and the firm has disclosed that Privet Fund Management LLP (“Privet”) is a party that has offered to acquire the company for cash consideration of US$8.00 per share subject to due diligence, financing and other conditions.

Norsat has retained Raymond James Ltd. as its financial advisor and McMillan LLP as its legal advisor to assist the company's Board of Directors in reviewing and evaluating the proposals and comparing such proposals to Norsat's standalone strategic plan, consistent with the Board's fiduciary duties. The review process initiated by the Board could result in bids with consideration higher than US$8.00 per share and Norsat will work with their advisors to consider the proposals as well as other potential opportunities in comparison to the firm's long-term strategic plan.

The company has not established a definitive timeline to complete this review and no decision has been reached as of this writing. There can be no assurance that the review being undertaken will result in a business combination or a path different from the company's current strategic plan.Norsat does not intend to make any further announcements regarding the review unless and until the Board has approved a specific transaction or other course of action requiring disclosure.