SatCom Group Holdings plc
AIM : SGH

SatCom Group Holdings plc

September 30, 2005 02:03 ET

Completion of Acquisition of Horizon Mobile Communications

SALISBURY, UNITED KINGDOM--(CCNMatthews - Sept. 30, 2005) - SatCom Group Holdings plc (AIM:SGH)("SatCom") is pleased to announce the completion of the acquisition of Horizon Mobile Communications Co., Ltd., ("HMC") a dedicated supplier of mobile satellite communications and integrated IT solutions predominantly to the Asian maritime market, which was announced on 26 September 2005. Pursuant to the HMC acquisition agreement, 1,482,155 new ordinary shares of US$ 0.10 each in the capital of SatCom ("New SatCom Shares") have been issued as initial consideration. Admission of the New SatCom Shares to trading on AIM is expected to occur on or around 6 October 2005.

The New SatCom Shares shall rank pari passu in all respects with the existing ordinary shares in SatCom. The New SatCom shares will be issued in registered form and will be eligible for settlement in CREST.

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