MEDIA RELEASE: 16.08.06; Shareholders of Multiemedia Limited (ASX: MUL) overwhelmingly voted to change the company name to NewSat Limited at an Extraordinary General Meeting held in Melbourne today.
The shareholders vote of confidence supported the direction of the Board of Directors headed by Chairman, John Walker and Founder and CEO, Adrian Ballintine.
As of September 1, 2006, Multiemedia will commence trading as NewSat Limited and will be listed on the ASX under a new stock symbol: NWT.
“This name change to NewSat Limited is a landmark in the company’s progress and a further endorsement by investors, in the transformation of the company to a pure satellite play,” said Mr Ballintine.
Late last year Ballintine flagged the move to the satellite focus with the acquisition of major on-ground Mediaport facilities in Adelaide and Perth for $13 million.
Earlier in ’06, subsidiary MTD, a technology distributor, was sold and directors indicated that its retail communications division AirWORKS Media would follow.
“We can now solely focus on strategically leveraging off the ownership of our Mediaport assets. Our management and directors can drive the business forward into the heart of the satellite market for high speed broadband internet communications.
NewSat’s independent management and ownership of our Mediaport assets puts us in a strong market position. With their geographically secure locations, our facilities are viewed favourably by local and international government agencies and commercial organisations as they provide a valuable Australasian link in an organisation’s global communications infrastructure,” he said.
NewSat Limited provides a full range of voice, video and data communications solutions, via satellite through its Mediaports in Adelaide and Perth to Australia, Oceania, Asia, the Middle East, Europe and Africa.
As the largest Australian-owned and independent Mediaports operator, NewSat Limited has 21 large KU / C-band antennas accessing regional satellites including NewSkies, PanAmsat and Inmarsat; to provide international communications access for governments, NGOs and major corporations to 75 percent of the world’s population.
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Multiemedia Limited (ASX:MUL) is an Australian-owned public company delivering global satellite technology and communication services and digital advertising content through its two business divisions – NewSat Networks and AirWORKS Media. Headquartered in Melbourne, Multiemedia has offices and facilities in Sydney, Adelaide, Perth, Newcastle and Dubai; with satellite Mediaports in Perth and Adelaide
NewSat Networks offers a full range of managed communication services, Telemetry, Tracking and Control (TTC) and carrier monitoring from its Mediaports for commercial and government customers; utilising the latest generation satellite and VSAT technology with two way end-to end communications to Australia / Oceania, Asia, the Middle East and Africa.
AirWORKS Media offers an innovative advertising delivery concept by matching media to the moment of decision, providing tailored media packages and delivering digital advertising content, via satellite to stores and other points of sale.
Sally Downs, Multiemedia Marketing & Communications Manager, 03-9674-4604 Grant Muller , Impact Corporate Communications, 03-9853-7665