Norsat
Announces
Receipt
of New
Indication
of
Interest
March 17, 2017
Norsat International Inc. announced that further to its news release of September 19, 2016, it has recently received a new indication of interest from Privet Fund Management LLP ("Privet"). Privet has provided a non-binding letter of interest to acquire the Company for cash consideration of US$10.25 per share subject to due diligence, financing, the completion of a definitive agreement and other conditions.
The Board, together with the Company's financial advisors and legal counsel, has been reviewing various strategic alternatives and opportunities to maximize value for shareholders. The Board will consider and evaluate the non-binding indication of interest from Privet as part of this ongoing process.
There can be no assurance that a transaction will be completed. The Company does not intend to make any further announcements regarding a potential sale unless and until the Board has approved a specific transaction or other course of action requiring disclosure.