Shareholders of SES (Paris:SESG) (LuxX:SESG), at an Extraordinary
General Meeting held today at the company's headquarters in Betzdorf
(Luxembourg), approved a resolution to authorize the Board of
Directors of SES to buy back and cancel via a capital reduction the
stake held by GE (General Electric) in the company.
The significant share buyback and cancellation will take place
following the completion of the EUR 1.2 bn split-off transaction with
GE that SES announced in a separate press release issued on February
14th, 2007. In the framework of this transaction which remains subject
to the satisfaction of certain closing conditions, SES will contribute
certain assets and cash to a new company and exchange shares of that
new company for GE's entire holding of 103,149,900 shares in SES.
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 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 43 satellites in 33 orbital
positions around the globe. Additional information on SES is available
at: www.ses.com
