TA Associates selldown of SDA shares
London, Mar 2, 2018 AEST (ABN Newswire) - Interests associated with TA Associates Management L.P. ("TA Associates") have informed Speedcast International Limited (
ASX:SDA) that they have sold down their 13.1% shareholding in Speedcast, effected through an underwritten block trade of shares to institutional investors.
Speedcast Chair John Mackay thanked TA Associates for their long term involvement with Speedcast and commented that:
"Edward Sippel, Michael Berk and TA Associates have been significant value add partners in the growth story that is Speedcast. It has been a pleasure to work with them as board members and as our most significant shareholder for a long period of time.
On behalf of the board and fellow shareholders, I would like to thank you both for your sustained and disciplined efforts and support. Speedcast continues to execute very effectively as our recent results have demonstrated and we are excited about our future under Pierre-Jean's leadership and our strong institutional shareholder support"
Speedcast Chief Executive Officer Pierre-Jean Beylier commented that:
"Many thanks to Edward and Michael for their support as fellow board members and shareholders over a significant period of time through our listing on the ASX, ongoing M&A and transformational acquisition of Harris CapRock last year.
We have created a world class company and I have enjoyed our interaction at a board level and having you as my largest shareholder for most of that journey. As we move forward, the management team continue to be very excited about the future growth prospects for Speedcast and I remain focused on delivering for my board and shareholders."
TA Associates Managing Director and SDA Non-Executive Director Edward Sippel has issued the following statement to Speedcast:
"TA Associates has thoroughly enjoyed helping Speedcast build a world class team and company throughout the course of our partnership. We strongly believe that Speedcast is well positioned for future growth opportunities under the leadership of Pierre-Jean Beylier, and we wish the company all the best for a successful future.
On behalf of Michael Berk and myself, I would also like to express our sincere thanks to Chairman John Mackay and fellow board members for our time working together, as well as your support of and dedication to Speedcast. We have relished our very collaborative and productive relationship as we worked to help drive growth and create further value for the company, and wish you all the best."
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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