Shareholders of SES S.A. (Paris:SESG) (LuxX:SESG), at an
Extraordinary General Meeting held at the Company's headquarters in
Betzdorf on June 28th, 2007 appointed leading business figures Mr
Robert W. Ross and Dr Ashok Ganguly to the Board of Directors, and
approved certain modifications to the Company's Articles.
Dr Ganguly is currently the Chairman of Firstsource Solutions Ltd
(formerly ICICI OneSource Ltd) and ABP Pvt Ltd (Ananda Bazar Patrika
Group) and has been a Director on the Central Board of the Reserve
Bank of India since November 2000. He is a member of the Prime
Minister's Council on Trade and Industry as well as the Investment
Commission and the India-USA CEO Council, set up by the Prime Minister
of India and the President of the USA. He is also a member of the
National Knowledge Commission to the Prime Minister. He is a former
member of the Board of British Airways Plc (1996-2005) and of New
Skies Satellites (2002 - 2006).
Mr Ross is the former CEO of New Skies Satellites (1998-2002) and
served as consultant to the company from 2002 until 2004. He has
extensive executive experience in the media industry, having held
senior positions at the National Cable Television Association and at
Turner Broadcasting System Inc., where he was instrumental in the
introduction of CNN to Europe and the Middle East, subsequently being
appointed Executive Vice President with responsibility for strategic
planning for launching international TV networks, and ultimately
President of Turner International, Inc. He presently provides
consultancy services in the broadcasting communications sphere.
The General Meeting also approved modifications to the Articles of
Incorporation. These included:
1. The adaptation of the Articles to the changes made in the
Concession Agreement between SES ASTRA and the Luxembourg state
(Article 5).
2. Deletion of all references to Shares of Class C, these shares
(formerly owned by General Electric) having been repurchased and
cancelled.
3. Other minor modifications taking into account the two above
items.
Rene Steichen, Chairman of the Board of Directors, said:
"SES is pleased to welcome Dr Ashok Ganguly and Robert W. Ross to
the Board of Directors. Their enormous industry knowledge and broad
business expertise brings further depth to our Board and will help to
support SES's growth initiatives. This is particularly relevant for
our activities in new markets and business sectors. We look forward to
benefiting from their contributions to our continued success."
Notes to Editors
Background to the amendment of Article 5
In December 2005, the European Commission started a procedure
based on concerns that the special rights of the Luxembourg Government
under the terms of the Concession Agreement (under which SES ASTRA has
access to Luxembourg orbital positions and frequencies) might
represent a disproportionate restriction on the movement of capital
and freedom of establishment. Following the Luxembourg Government's
proposals to amend the Concession Agreement between the state and SES
ASTRA, the Commission closed the file on March 21, 2007. The
Concession Agreement refers to the ownership threshold of 20.1%. Any
increase of shareholding above this threshold had to be authorized by
the Government. The amended Concession Agreement identifies three
thresholds of 20%, 33% and 50%; between these limits shareholdings may
be freely managed. Accordingly, the SES S.A. Articles have been
amended to conform with the new Concession Agreement and Article 5 now
provides for three ownership thresholds where permission must be
sought from the Luxembourg Government as regulator.
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. SES provides
outstanding satellite communications solutions via a fleet of 36
satellites in 25 orbital positions around the globe. Additional
information on SES is available at: www.ses.com
