Extraordinary Announcement of 4iG Plc.
On acquiring 20% of the shares of Space-Communications Ltd. by way of capital increase
4iG Public Limited Company (“4iG”) hereby
informs the participants of the capital market that today, 4iG has increased
its shareholding in Space Commmunications Ltd. (hereinafter:
"Spacecom") from 9.538 percent to 20 percent by way of capital
increase, in line with the approval of the Israeli Ministry of Communications
(hereinafter: "MOC") issued on 15th February, 2023.
Global operating Spacecom acquisition represents a significant expansion of competence for 4iG, the company group can become leading service provider in all areas of data transmission.
Spacecom, listed on the Tel Aviv Stock Exchange, offers broadcast and broadband satellite services to the customers worldwide. As it does in Hungary and the region with AMOS 3 satellite, using the Hungarian geostationary orbit until 2024. After this date, Hungary has the opportunity to gain control over its own orbit and frequency again. CarpathiaSat Plc. (“CarpathiaSat”) was established within 4iG Group to take this advantage, and according to the plans will launch and operate the first Hungarian telecommunications satellite on geostationary orbit. In addition, CarpathiaSat owns the right to operate Hungary’s orbit for twenty years from 2024.
Budapest, 24th February, 2023.