Key Developments: Inmarsat PLC (ISA.L)
666.00GBp
20 May 2013
4.00p (+0.60%)
662.00p
664.50p
674.50p
661.50p
728,824
794,037
749.00p
392.80p
Latest Key Developments (Source: Significant Developments)
Inmarsat PLC's Inmarsat Government Secures Contract
Inmarsat PLC announced that Inmarsat Government, a wholly owned subsidiary of Inmarsat plc, has been awarded a contract to continue providing Mobile Satellite Services (MSS) to the Federal Emergency Management Agency (FEMA). The contract is valued at up to $3.5 million over five years, which includes an initial contract period of one year and the option to extend the agreement in four one-year increments. Under this contract, FEMA will use Inmarsat satellite services to provide reliable, mission-critical communications between supporting personnel in the event of a disaster. In emergency situations, it is essential that first responders are able to communicate immediately not only among themselves, but also with their leadership through respective command and operational centers. Full Article
Inmarsat PLC Recommends Final Dividend
Inmarsat PLC announced that the Board of Directors intends to recommend a final dividend of 27.45 cents (USD) per ordinary share in respect of the year ended December 31, 2012 to be paid on May 24, 2013 to ordinary shareholders on the register of members at the close of business on May 17, 2013. Full Article
Gogo Agrees To Partnership With Inmarsat PLC For Global Xpress
Gogo and Inmarsat PLC announced that they have signed an agreement that sees Gogo become a value added reseller for Global Xpress (GX) in the Commercial Air Transport market. The global Ka-band network will be provided through a constellation of three satellites and GX is scheduled to deliver full global coverage by late 2014. Through GX, Gogo will offer improved capacity, global coverage and significant cost advantages to its commercial airline customers. Optimized for mobile users, including the global aero market, GX will deliver download speeds of up to 50 megabits per second, powering in-flight solutions, affording a superior user experience for passengers and crew. Full Article
Inmarsat PLC Announces Honeywell Commitment To GX Aviation For Business Aviation Market
Inmarsat PLC announced it has signed a master distribution agreement (MDA) with Honeywell for GX Aviation services. Under the terms of the agreement, Honeywell will partner with Inmarsat to bring the benefits of GX to the business aviation market. The signing of this agreement with Honeywell represents a strong endorsement of Inmarsat's GX service innovation for the business aviation sector, and is underscored by Honeywell's commitment to purchase GX capacity for five years and reserve capacity up to 2021. Full Article
Inmarsat PLC Secures Contract
Inmarsat PLC announced that it has secured 100,000 confirmed orders from distributors for its global handheld satellite phone, IsatPhone Pro. Full Article
MISC Berhad Chooses Inmarsat PLC's XpressLink
Inmarsat PLC announced that a Malaysian shipping conglomerate MISC Berhad (MISC) has signed up 46 of its vessels, comprised of chemical and LNG tankers, for Inmarsat’s XpressLink service. Additionally, within the scope of the agreement, there is potential for future opportunities and new deployments with the MISC Group. Full Article
Inmarsat PLC Declares Dividend
Inmarsat PLC announced that a final dividend of 24.96 cents (USD) per ordinary share (total dividend USD111.7m) for the 2011 financial year as recommended by the Directors was approved at the Annual General Meeting and paid to shareholders on May 25, 2012. The Board intends to declare and pay an interim dividend for the 2012 financial year of 16.94 cents (USD) per ordinary share on October 25, 2012 to ordinary shareholders on the share register at the close of business on October 5, 2012. Full Article
Inmarsat Plc Completes Offering Of Senior Notes
Inmarsat Plc announced that it has completed an offering of debt securities through Inmarsat Finance plc, a wholly owned subsidiary company. Inmarsat sold USD200 million of 7.375% Senior Notes due 2017. The offering was completed at a price of 106% plus accrued interest, and the new notes will be treated as one class of securities, having the same terms and rights, as Inmarsat's existing 7.375% Senior Notes due 2017 in all respects. The Company intends to use the net proceeds (after fees and expenses) of USD208.4 million for general corporate purposes. The new notes will be issued on April 11, 2012. Full Article
Inmarsat Plc Announces Offering Of Senior Notes
Inmarsat Plc announced an offering of debt securities through Inmarsat Finance plc, a wholly-owned subsidiary company. Inmarsat is offering approximately USD200 million of 7.375% Senior Notes due 2017. If completed, these new notes will be treated as one class of securities, having the same terms and rights, as Inmarsat's existing 7.375% Senior Notes due 2017 in all respects. The Company intends to use the net proceeds (after fees and expenses) for general corporate purposes. A further announcement will be made to confirm the outcome of the offering. Full Article
Inmarsat Plc's Global Xpress Partners With Gogo For Worldwide Aviation Connectivity Service
Inmarsat Plc announced the selection of Gogo as its partner to bring Inmarsat's Global Xpress satellite service to the commercial airline market. Gogo will be a service provider, distributing Global Xpress service to the global commercial aviation market. Inmarsat has also selected Gogo's business aviation subsidiary, Aircell, as a distribution partner for the business and government aviation markets. Working with Inmarsat, Gogo will begin in-flight testing of the Global Xpress aeronautical services after the launch of the first Inmarsat-5 satellite, which is scheduled for mid-2013. Gogo plans to offer regional service in 2013 with services for air transport, business aviation and government customers expected worldwide later in 2014. Inmarsat's Global Xpress service will allow Gogo to utilize the first global Ka-band solution, which is expected to bring significantly improved performance to the global aero market in terms of coverage, capacity and cost. Gogo and its subsidiary, Aircell, will also be appointed as a SwiftBroadband distribution partner for the aeronautical markets. Full Article
Inmarsat gains on hopes Dish-LightSquared deal will boost revenue
LONDON - Shares in satellite firm Inmarsat rose on expectations that Dish Network Corp's bid for the spectrum assets of its U.S. partner LightSquared may lead to a resumption of payments to the British company under an airwaves-sharing deal.
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