KSAT (KSATF.F) (and/or V.KSA)is in the satellite telecommunications business in China.
The common shares of KSAT trade on the Canadian Venture Exchange under the trading symbol "KSA". KSAT's current business involves the manufacture and sale of very small aperture terminals ("VSATs"), the investment in and development of VSAT service networks in China and the provision of VSAT private network services through its Chinese joint venture partners to corporate and government customers.
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KSA.V on the CDNX is 37% owned by GILTF (Gilat) and 37% by Global Space Investments.
GILTF owns Spacenet Inc, which in turn owns 44.7% of Starband (ipo STRB). Also DISH (Echostar) owns 19% of Starband, and MSFT own 19% of Starband. MSFT is selling the service in the US through 7000+ Radio Shacks.
Under the MOU, Global, Gilat and KSAT have also agreed to work together to identify an appropriate joint venture partner in Mainland China, develop a business plan for the delivery of Internet services to homes in China under the "Gilat To Home-China" brand name and establish a Sino-Foreign joint venture enterprise which will have an exclusive right to offer broad band internet access via satellite in China. KSAT has also agreed to pay S$1,058,500 to Gilat for the installation of an upgrade to KSAT's existing hub to provide Internet Protocol connectivity and two-way broadband Internet access via satellite to enable KSAT to provide demonstrations and services for the proposed venture.
Under a separate amending agreement, Global, Gilat, KSAT and Wan have also agreed to amend their shareholders' agreement to give Gilat the right to appoint the Chairman and Chief Executive Officer of KSAT. |
