ASIA SATELLITE TELECOMMUNICATIONS HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) Stock Code: 1135 CONNECTED TRANSACTION SHARE PURCHASE AGREEMENT RELATING TO EQUITY INTEREST IN SPEEDCAST HOLDINGS LIMITEDShare Purchase Agreement • October 26th, 2007 • Asia Satellite Telecommunications Holdings LTD • Communications services, nec
The Company announces that on 25 October 2007, AsiaSat, an indirectly wholly-owned subsidiary of the Company, entered into the Agreement to purchase from the Vendor its entire shareholding of 27.99% in SpeedCast, a non wholly-owned subsidiary of the Company, at a consideration of approximately US$3.36 million (approximately HK$26.19 million) in cash, which is to be funded by the internal resources of the Group. Upon Completion, the shareholding of AsiaSat in SpeedCast will increase from 72.01% to 100%, and SpeedCast will become a wholly-owned subsidiary of the Company. As the Vendor is a substantial shareholder of SpeedCast, the transaction contemplated under the Agreement constitutes a connected transaction for the Company pursuant to Chapter 14A of the Listing Rules (i.e. the “Connected Transaction”). As one of the applicable percentage ratios of the Connected Transaction exceeds 2.5% and the total consideration involved is over HK$10,000,000, the Connected Transaction is subject to
