Intelsat Announces Final Preferred Stock Dividend and Mandatory Conversion of the 5.75% Series A Mandatory Convertible Junior Non-Voting Preferred Shares
Luxembourg, 11 April 2016 – Intelsat S.A. (NYSE: I), operator of the world’s first Globalized Network, powered by its leading satellite backbone, today announced a quarterly cash dividend of $0.71875 per share, to be paid to holders of its 5.75% Series A Mandatory Convertible Junior Non-voting Preferred Shares (the “Series A Preferred shares”), in accordance with the terms of the Series A Preferred shares. The dividend will accrue through 1 May 2016 and be paid on 2 May 2016 to holders of record as of 15 April 2016, representing the final dividend prescribed under the terms of the Series A Preferred shares.
On 1 May 2016, all of the Company’s 3,450,000 Series A Preferred shares will automatically convert pursuant to their terms into common shares at a conversion ratio to be determined on the third trading day immediately preceding 1 May 2016. The automatic conversion will be recorded on 2 May 2016.
Intelsat S.A. (NYSE: I) operates the world’s first Globalized Network, delivering high-quality, cost-effective video and broadband services anywhere in the world. Intelsat’s Globalized Network combines the world’s largest satellite backbone with terrestrial infrastructure, managed services and an open, interoperable architecture to enable customers to drive revenue and reach through a new generation of network services. Thousands of organizations serving billions of people worldwide rely on Intelsat to provide ubiquitous broadband connectivity, multi-format video broadcasting, secure satellite communications and seamless mobility services. The end result is an entirely new world, one that allows us to envision the impossible, connect without boundaries and transform the ways in which we live. For more information, visit www.intelsat.com.
Intelsat Safe Harbor Statement:
Statements in this news release, including statements regarding the offering, constitute “forward-looking statements” that do not directly or exclusively relate to historical facts. When used in this release, the words “may,” “will,” “might,” “should,” “expect,” “plan,” “anticipate,” “project,” “believe,” “estimate,” “predict,” “intend,” “potential,” “outlook,” and “continue,” and the negative of these terms, and other similar expressions are intended to identify forward-looking statements and information.
The forward-looking statements reflect Intelsat’s intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainties and other factors, many of which are outside of Intelsat’s control. Important factors that could cause actual results to differ materially from the expectations expressed or implied in the forward-looking statements include known and unknown risks. Known risks include, among others, market conditions and the risks described in Intelsat’s annual report on Form 20-F for the year ended December 31, 2015, and its other filings with the U.S. Securities and Exchange Commission.
Because actual results could differ materially from Intelsat’s intentions, plans, expectations, assumptions and beliefs about the future, you are urged to view all forward-looking statements with caution. Intelsat does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Vice President, Investor Relations and Corporate Communications