Sept.
19, 2016
Norsat
International
Inc. has
recently
received
indications
of
interest
from
multiple
parties
with
respect
to a
strategic
transaction.
Privet
Fund
Management
LLP
("Privet")
is one
such
party
that has
offered
to
acquire
the
Company
for cash
consideration
of
US$8.00
per
share
subject
to due
diligence,
financing
and
other
conditions.
Norsat
has
retained
Raymond
James
Ltd. as
its
financial
advisor
and
McMillan
LLP as
its
legal
advisor
to
assist
the
Company's
Board of
Directors
(the
"Board")
in
reviewing
and
evaluating
the
proposals
and
comparing
such
proposals
to
Norsat's
standalone
strategic
plan,
consistent
with the
Board's
fiduciary
duties.
The
review
process
initiated
by the
Board
could
result
in bids
with
consideration
higher
than
US$8.00
per
share
and the
Company
will
work
with its
advisors
to
consider
the
proposals
as well
as other
potential
opportunities
in
comparison
to the
Company's
long-term
strategic
plan.
