NewSat Signs US$30 Million Contract for Jabiru Satellite Capacity

[Jeremy Dale Thompson]

• Binding pre-launch contract of US$30 million
• Contract with a South Asian satellite reseller for coverage across Afghanistan
• New contract takes total binding pre-launch contracts for Jabiru satellite capacity to US$601 million

NewSat Limited (ASX: NWT), Australia’s satellite company, announces today the signing of a three year contract with a South Asian satellite reseller. The commitment is for the purchase of US$30.29 million of Jabiru satellite transmission capacity over Afghanistan. Payment in full has been agreed with the customer and is expected before the end of this month. 

For commercial and competitive reasons the customer details cannot be disclosed at this time and remain confidential.

In commenting on the multi-million dollar contract, Adrian Ballintine, NewSat Founder and CEO said:

“Afghanistan continues to have an insatiable appetite for communications, and our high throughput Ka-band satellite capacity is obviously hitting a sweet spot with our customers in the region. The latest contract for US$30 million, takes the total of Jabiru pre-launch customer contracts to over US$600 million. Lockheed Martin is now six months into the Jabiru-1 satellite build and on schedule for a 2014 launch with Arianespace. Export credit debt funding continues to progress extremely well.”