Successfully Completes Retail Entitlement Offer
London, Nov 23, 2016 AEST (ABN Newswire) - SpeedCast International Limited (
ASX:SDA) (SpeedCast) is pleased to advise that it has successfully completed the retail entitlement offer component (Retail Entitlement Offer) of its fully underwritten 2 for 3 accelerated renounceable entitlement offer (the Offer).
Summary
- AUD 17.6 million in acceptances under the Retail Entitlement Offer
- Approximately 8.8 million retail entitlements will be sold through the Retail Shortfall Bookbuild
Retail Shortfall Bookbuild
SpeedCast will offer approximately 8.8 million shares for sale through the Retail Shortfall Bookbuild which are attributable to entitlements not taken up by eligible retail shareholders by the close of the Retail Entitlement Offer and entitlements that would otherwise have been offered to ineligible retail shareholders (Retail Shortfall Bookbuild).
The Retail Shortfall Bookbuild will commence after market close today and will be completed prior to market open on Thursday, 24 November 2016. It is anticipated that trading will be unaffected with SpeedCast shares expected to resume trading on market open as usual.
Shares taken up under the Retail Entitlement Offer are expected to be allotted on Tuesday, 29 November 2016 and will commence trading on Wednesday, 30 November 2016.
About Speedcast International Ltd
Speedcast International Ltd (ASX:SDA) is the world's most trusted communications and IT services provider, delivering critical communications solutions to the Maritime, Energy, Mining, Media, Telecom, Cruise, NGO, Government, and Enterprise sectors. With more satellite capacity than any other provider, Speedcast enables faster, seamless pole-to-pole coverage from a global hybrid satellite, fiber, cellular, microwave, MPLS, and IP transport network with direct access to public cloud platforms. The company also integrates differentiated technology offerings that provide smarter ways to communicate and distribute content, manage network and remote operations, protect and secure investments, and improve the crew and guest experience. With a passionate customer focus and a strong safety culture, Speedcast serves more than 3,200 customers in over 140 countries. Learn more at www.speedcast.com.
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