Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 427

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 427
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 to $1.5 million for fees and expenses that the
shareholder incurred in connection with the review and evaluation of a potential strategic transaction, which ended in the second quarter of 2023 with a total of $0.9 million reimbursed. No additional amounts are expected to be reimbursed under
the agreement.

Note 17—Events (Unaudited) Subsequent to the Date of the Auditors’ Report

SES Acquisition

On April 30, 2024,
SES S.A. and Intelsat announced an agreement for SES S.A. to acquire Intelsat through the purchase of 100% of the equity of Intelsat Holdings for a cash consideration of $3.1 billion and certain contingent value rights (the “SES
Transaction”). The contingent value rights entitle the holders thereof to 42.5% of the net proceeds received by the combined company in respect of any monetization of the combined company’s usage rights for up to 100 MHz of the C-band
spectrum within the 7.5 year period post-closing. The SES Transaction is subject to relevant regulatory clearances/filings, which are expected to be received during the second half of 2025. The transaction has been unanimously approved by the board
of directors of both companies and Intelsat shareholders holding approximately 73% of the common shares have entered into customary support agreements requiring them to vote in favor of the transaction.

Share Premium Distribution

In
September 2023, our board of directors authorized and approved, subject to shareholder approval, and in December 2023, the shareholders approved, the distribution of $130.0 million out of the Company’s share premium to the shareholders of the
Company in proportion to their holdings of shares of the Company and the holders of restricted stock units pursuant to the terms of the relevant award agreements, on the relevant record date. On January 29, 2024, the Company paid $1.873 per
outstanding share to its common shareholders of record at the close of business on January 5, 2024. Payments will be made to holders of restricted stock units pursuant to the terms of the relevant award agreements upon vesting of the underlying
restricted stock units.

In June 2024, our board of directors authorized and approved, subject to shareholder approval, and in September
2024, the shareholders approved, the distribution of $500.0 million out of the Company’s share premium to the shareholders of the Company in proportion to their holdings of shares