SES Completes EUR 908.8 Million Capital Raising to Fund Move to 100% of O3b Networks and Acceleration of Commercial and Financial Synergies
27.5.2016 08:38 | Business Wire
SES S.A. (Euronext Paris:SESG) (LuxX:SESG) announces the completion of the capital raising to fund the acquisition of the remaining shares in O3b Networks, as announced 26 May 2016. The total gross proceeds from the capital raising amounts to EUR 908.8 million.
SES will issue 39,857,600 million new Fiduciary Depositary Receipts (FDRs) at a price of EUR 19.0. The number of new FDRs represents 11.6% of the existing number of total Class A shares. The Private Placement (“The Placement”) is part of a capital increase in which the existing Class B shareholders (Banque et Caisse d’Epargne de l’Etat, Société Nationale de Crédit et d'Investissement and Etat du Grand-Duché de Luxembourg) have agreed to subscribe for 19,928,800 newly-issued Class B shares, pro rata to their existing holding of Class B shares, as is necessary to maintain the ratio of 1:2 with the Class A shares, as provided in SES’s articles of association.
These new shares will rank pari passu with the existing A-shares and B-shares. Class B shares have 40% of the economic rights of Class A shares. As a result of the capital raising, the total number of shares will increase from 515.40 million to 575.19 million, and the total number of economic shares will increase from 412.32 million to 460.15 million.
SES will use the proceeds raised to fund the total consideration of USD 730 million to increase its ownership of O3b to 100%. The transaction is subject to regulatory approvals which are expected to be completed during H2 2016. SES will also use around USD 300 million to repay O3b’s most expensive debt facilities, leading to a reduction in annual financing costs after initially covering any repayment charges.
The settlement-delivery and the admission of the new FDRs on Euronext Paris and the Luxembourg Stock Exchange (on the same line as SES’s existing shares, ISIN Code: LU0088087324) is expected to take place on 31 May 2016. A Listing Prospectus is expected to be approved by the Commission de Surveillance du Secteur Financier (CSSF) in advance of settlement.
Disclaimer / “Safe Harbor” Statement
This press release does not constitute an offer of securities for sale in the United States. The securities referred to in this press release have not been, and will not be, registered under the US Securities Act and may not be offered or sold in the United States absent registration or an exemption from registration under such Act.
This press release does not, in any jurisdiction, and in particular not in the U.S., constitute or form part of, and should not be construed as, any offer for sale of, or solicitation of any offer to buy, or any investment advice in connection with, any securities of SES nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever.
No representation or warranty, express or implied, is or will be made by SES, its directors, officers or advisors or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this press release, and any reliance you place on them will be at your sole risk. Without prejudice to the foregoing, none of SES or its directors, officers or advisors accept any liability whatsoever for any loss however arising, directly or indirectly, from use of this presentation or its contents or otherwise arising in connection therewith.
This press release includes “forward-looking statements”. All statements other than statements of historical fact included in this press release, including, without limitation, those regarding SES’s financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to SES products and services) are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of SES to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding SES and its subsidiaries and affiliates, present and future business strategies and the environment in which SES will operate in the future and such assumptions may or may not prove to be correct. These forward-looking statements speak only as at the date of this press release. Forward-looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. SES and its directors, officers and advisors do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Ford Names New Chairman and CEO for Ford China; New Vice President of Powertrain Engineering23.8.2017 22:00 | Pressemelding
Ford Motor Company today announced a new chairman and CEO of Ford China and head of Powertrain Engineering as it continues to strengthen its global leadership team. Jason Luo is named chairman and CEO Ford China. In his new role, Luo will lead all of the company’s operations in Greater China including its import business, Lincoln, its passenger car joint venture Changan Ford, commercial vehicle investment in Jiangling Motors Corporation, and our operations in Taiwan. Luo, 51, joins Ford from Key Safety Systems, the fastest growing company in the automotive safety market, where he was global president and CEO for the past 10 years. While at Key Safety Systems, he led the business transformation and global expansion of the company and achieved significant revenue growth in China. Luo will be based in Shanghai, reporting to Peter Fleet, Ford group vice preside
Tech21 Announces New Collection Designed to Protect the Samsung Galaxy Note8 Drop After Drop.23.8.2017 17:30 | Pressemelding
Tech21, the leader in impact protection for mobile devices, today announced a new collection of innovative cases and screen shields for the Samsung Galaxy Note8 made of unique, patented impact protection materials that guarantee the most effective drop protection on the market. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170823005888/en/ Evo Tactical for Samsung Galaxy Note8 (Photo: Business Wire) Tech21 products are designed to protect, drop after drop. The company does this by using scientifically proven impact materials, innovative design and a rigorous testing methodology developed in partnership with the National Physical Laboratory. Tech21 cases are drop tested 20 times to ensure durability and long lasting protection able to withstand the multiple drops that occur in the everyday
2018 AQR Insight Award Call for Papers23.8.2017 15:45 | Pressemelding
AQR Capital Management, LLC (“AQR”) today began accepting submissions for the seventh annual AQR Insight Award. The AQR Insight Award recognizes and rewards exceptional academic papers that have practical applications and offer original, intelligent approaches to issues in the investment world. Up to three papers share a $100,000 annual prize. Winners are chosen by the AQR Insight Award Committee, a panel of senior members of the firm, many of whom are leading academic finance experts from top universities. AQR will accept papers on any investment-related topic as long as they deliver clear, significant insights. Papers must not be published before October 1, 2017. The deadline for entries is November 1, 2017. The Committee will then narrow the finalists to five papers, and the authors of those papers will be invited to present their research to
ANA Announces New Online Content "IS JAPAN COOL? DOU"23.8.2017 15:00 | Pressemelding
Today, All Nippon Airways Co., Ltd. (ANA), Japan’s largest and only 5-Star airline, is proud to announce the launch of its new online content “IS JAPAN COOL? DOU,” which illustrates traditional Japanese culture through the use of cutting-edge technology. This content can be seen on “IS JAPAN COOL?,” a website that promotes tourist destinations and popular Japanese cultures to the world. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170823005024/en/ "IS JAPAN COOL? DOU" TOP (Graphic: Business Wire) While Japan is widely known for its unique pop culture, “IS JAPAN COOL?,” which launched in 2012, has put much of its focus on promoting Japan’s modern culture. As the number of tourists visiting Japan exceeded 24 million people as of 2016, the project aims to provide a deeper understa
Emailage Receives $10 Million Growth Equity Investment to Accelerate Global Expansion23.8.2017 14:00 | Pressemelding
Emailage, the leading provider of global fraud prevention and identity verification using email address scoring, today announced that it has received a $10 million growth equity investment. Anthos Capital led the investment, with participation from Radian Capital, Wipro Ventures, Mucker Capital and Tallwave Capital. Emailage will use the funding to expand existing partnerships, further advance its powerful email address-based predictive scoring system, and accelerate growth in North America, EMEA, LATAM and other key markets. “This investment will allow us to continue our rapid growth, enhance our leadership position in the online fraud detection market and deliver significant fraud prevention capabilities to businesses around the world,” said Emailage CEO Rei Carvalho. Emailage’s Software-as-a-Service solution delivers powerful, real-time risk intelligence by leveraging the
Westinghouse to Provide Fuel to PSEG’s Salem Nuclear Generating Station Through Continued Partnership23.8.2017 12:15 | Pressemelding
Westinghouse Electric Company today announced that it has signed a nuclear fuel contract extension with PSEG, a major supplier of nuclear power in New Jersey, to continue providing fuel assemblies for both units at the Salem Nuclear Generating Station. “Westinghouse has been the single-source fuel provider for PSEG’s Salem plant since its start of operations more than 40 years ago, and we are pleased to continue to support this important and long-standing customer through the delivery of safe, reliable high-performance fuel,” said David Howell, president, Americas Region, and chief growth officer at Westinghouse. “This continued partnership is recognition of our reliable fuel performance and confirmation of the important trust PSEG has in Westinghouse.” Under the terms of the contract, Westinghouse will deliver its 17x17 Robust Fuel Assemblies, known as RFA-2. The design of
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom