SES CANCELS 25,002,156 SHARES, CREATING ADDITIONAL SHAREHOLDER VALUE - New buyback programme authorized
Shareholders of SES GLOBAL S.A. (Paris:SESG)(LuxX:SESG), at an
Extraordinary General Meeting held at the Company's headquarters in
Betzdorf (Luxembourg) today, approved the cancellation of 25,002,156
of the Company's shares, completing the share buy-back and
cancellation programme authorized by the Extraordinary General Meeting
of Shareholders held December 8th, 2005.
Within this programme, the Company acquired 25,002,156 of its own
shares* for an overall consideration of EUR 233,125,770. All shares
acquired under the programme have been cancelled following a reduction
of the Company's share capital.
Shareholders of SES also authorized a new share buy-back programme
of up to the legal maximum of 10% of the issued share capital. The
resolution allows the programme to run until June 2008. The company
will implement the share buy-back programme within a EUR 9.75 - 19.75
price range in compliance with the conditions set forth in the General
Regulations (Reglement general) of the French financial market
authority (Autorite des Marches Financiers).
In a move to leverage the strong and recognized SES brand
worldwide and to better reflect SES' corporate structure through a
streamlined brand hierarchy, shareholders of SES also adopted a
resolution to change the official denomination of SES GLOBAL to "SES".
SES's ticker symbols SESG on Euronext Paris and the Luxembourg Stock
exchange remain unaffected by this change.
Comments Romain Bausch, President and CEO of SES: "SES has
cancelled 6.8 % of its shares in 2005 and 3.6% in 2006, thus creating
considerable added value for its shareholders. We will continue to do
so with the implementation of the new share buy-back and cancellation
programme, in addition to and above our longstanding progressive
dividend policy and investments in future growth."
*Note to the editor:
The 25,002,156 shares acquired by the company were composed of
16,668,104 A-shares plus 8,334,052 B-shares. The B-shares have an
economic value equivalent to 40% of A- shares.
About SES
SES (Paris:SESG)(LuxX:SESG) wholly owns three market-leading
satellite operators, SES ASTRA in Europe, SES AMERICOM in North
America, and SES NEW SKIES, which provide global coverage and
connectivity. The Company also holds strategic participations in
AsiaSat in Asia, Star One in Latin America, SES Sirius in Europe, Ciel
in Canada and Quetzsat in Mexico. Americom Government Services
provides network solutions and bandwidth to the US government and its
contractors. SES provides outstanding satellite communications
solutions via a fleet of 44 satellites on 33 orbital positions around
the globe.
Additional information on SES is available at: www.ses-global.com