TORONTO, June 11 /CNW/ - CIP Canada Investment Inc. ("CIP Canada")
announced today that CIP Canada has increased the price at which CIP Canada
would acquire all outstanding shares of Stratos Global Corporation (TSX: SGB)
to C$7.00 cash per share. The Stratos Board of Directors continues to
unanimously recommend that shareholders vote in favour of the transaction.
Shareholders owning, or exercising voting control and direction over,
approximately 16.4 million shares, representing approximately 39% of the
outstanding shares of Stratos, have entered into agreements agreeing to vote
such shares in favour of the transaction. When combined with the 3.5 million
shares already voted in favour of the transaction by other shareholders, this
means that holders of approximately 19.9 million shares, representing
approximately 47% of the outstanding shares of Stratos, have voted or agreed
to vote in favour of the transaction as of the time of this press release.
"We are very pleased at the level of support we have received from
Stratos shareholders for our offer. We look forward to a successful closure of
the transaction. We are proud that this transaction will constitute the first
investment of a proposed portfolio of investments in the satellite sector,"
said Hans Lipman, Chairman of CIP Canada.
Communications Investment Partners Limited ("CIP") is a professional
investment company incorporated in 2006. The directors of CIP collectively
have more than 50 years of experience as directors of and advisors to
satellite services companies in both the mobile satellite and fixed satellite
For further information:
For further information: Sam Pakbaz, +44-20-7469-2112