Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 231

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 231
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’s board of directors authorized and approved, subject to shareholder approval, and in December 2023, the shareholders approved a share repurchase program authorizing for a three year period the repurchase of up to 20.0 million of Intelsat’s common shares, up to $200.0 million aggregate amount for which shares may be repurchased (the “Share Repurchase Program”). During the year ended December 31, 2023, Intelsat repurchased 220,000 common shares for $6.5 million at an average price per share of $29.75. Intelsat did not repurchase any common shares under the Share Repurchase Program during the year ended December 31, 2024. As of December 31, 2024, approximately $193.5 million remained available under the Share Repurchase Program. The Share Repurchase Program does not obligate Intelsat to acquire a minimum amount of shares. Refer to Note 9—Shareholders’ Equity of the Intelsat audited financial statements for the year ended December 31, 2024 included elsewhere in this prospectus. Cash Flow Items Intelsat’s cash flows consisted of the following for the periods shown (in thousands):

|                                                                               |     |   |   Year Ended 
 December 31, 
         2023 |   |     |   |   Year Ended 
 December 31, 
         2024 |   |
|:------------------------------------------------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Net cash provided by operating activities                                     |     | $ |    3,846,741 |   |     | $ |      825,577 |   |
| Net cash used in investing activities                                         |     |   |     (594,928 | ) |     |   |     (415,034 | ) |
| Net cash used in financing activities                                         |     |   |   (2,835,044 | ) |     |   |     (669,149 | ) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |     |   |          953 |   |     |   |       (4,764 | ) |
| Net change in cash, cash equivalents and restricted cash                      |     | $ |      417,722 |   |     | $ |     (263,370 | ) |

Net Cash Provided by Operating Activities Net cash provided by operating activities decreased