London, United Kingdom (ABN Newswire) - Interests associated with TA Associates Management L.P. ("TA Associates") have informed Speedcast International Limited (ASX:SDA) that they have sold down their 13.1% shareholding in Speedcast, effected through an underwritten block trade of shares to institutional investors.

Speedcast Chair John Mackay thanked TA Associates for their long term involvement with Speedcast and commented that:

"Edward Sippel, Michael Berk and TA Associates have been significant value add partners in the growth story that is Speedcast. It has been a pleasure to work with them as board members and as our most significant shareholder for a long period of time.

On behalf of the board and fellow shareholders, I would like to thank you both for your sustained and disciplined efforts and support. Speedcast continues to execute very effectively as our recent results have demonstrated and we are excited about our future under Pierre-Jean's leadership and our strong institutional shareholder support"

Speedcast Chief Executive Officer Pierre-Jean Beylier commented that:

"Many thanks to Edward and Michael for their support as fellow board members and shareholders over a significant period of time through our listing on the ASX, ongoing M&A and transformational acquisition of Harris CapRock last year.

We have created a world class company and I have enjoyed our interaction at a board level and having you as my largest shareholder for most of that journey. As we move forward, the management team continue to be very excited about the future growth prospects for Speedcast and I remain focused on delivering for my board and shareholders."

TA Associates Managing Director and SDA Non-Executive Director Edward Sippel has issued the following statement to Speedcast:

"TA Associates has thoroughly enjoyed helping Speedcast build a world class team and company throughout the course of our partnership. We strongly believe that Speedcast is well positioned for future growth opportunities under the leadership of Pierre-Jean Beylier, and we wish the company all the best for a successful future.

On behalf of Michael Berk and myself, I would also like to express our sincere thanks to Chairman John Mackay and fellow board members for our time working together, as well as your support of and dedication to Speedcast. We have relished our very collaborative and productive relationship as we worked to help drive growth and create further value for the company, and wish you all the best."



About Speedcast International Ltd:

Speedcast International Ltd (ASX:SDA) is the largest provider of remote communications and IT services in the world. Speedcast's fully managed service is delivered via a leading global, multi-access-technology, multi-band and multi-orbit network of 70+ satellites and an interconnecting global terrestrial network, bolstered by extensive on the ground local support from 40+ countries. This global "network of networks" allows customers to fully rely on the most robust, integrated infrastructure available in the market for their mission critical applications. Speedcast is uniquely positioned as a strategic business partner, tailoring communications, IT and digital solutions to meet unique customer needs and enable business transformation. Speedcast extends its managed services through differentiated technology offerings including cyber-security, crew welfare, content solutions, data & voice applications and network systems integration services. With a passionate customer focus and a strong safety culture, Speedcast serves more than 2,000 customers in over 140 countries in sectors such as Maritime, Energy, Mining, Enterprise, Media, Cruise, NGOs and Government. Learn more at www.speedcast.com.



Source:

Speedcast International Ltd



Contact:

Dominic Gyngell
General Counsel
Speedcast International Ltd
E: Dominic.Gyngell@speedcast.com
T: +852-3919-6896