Globalcom Satellite Phone News and Updates

Globalstar Granted License to provide Satellite Service to South Africa

Globalstar announced today that its South Africa subsidiary, Globalstar Satellite Services (Pty) Ltd (Globalstar Southern Africa) has been granted a value added network service license from the Independent Communications Authority of South Africa (ICASA). Globalstar Southern Africa was established in March of 2006. They filed the application for a license in May with the ICASA. Globalstar Southern Africa plans to proceed with their plans to provide satellite voice and data services to all areas of South Africa.

Receiving the approval from ICASA was a primary step necessary to provide high quality Globalstar voice and data service to South Africa. Globalstar Southern Africa will proceed to the next steps required to activate the Globalstar gateway in the region.

In 2000 a Globalstar gateway was constructed in Delareyville, South Africa with the intent to provide Globalstar satellite service to South Africa, the surrounding region and the coastal waters. The gateway was completed and tested for commercial service but a number of unresolved licensing and regulatory issues prevented commercial service to South Africa. The Globalstar gateway is now owned by Telkom South Africa and has been dormant since 2002.

Globalstar has over 200,000 units active with service. Globalstar provides high quality satellite voice and data service to more than 120 countries.

posted by David and Brooke @ 1:52 PM

Globalstar files registration for initial public offering of common stock

July 18, 2006 Globalstar filed with the Securities and Exchange Commission a registration statement for a proposed initial public offering of common stock shares.

The net proceeds of the offering along with the proceeds under its credit facility will fund the launch of Globalstar’s second generation satellite constellation, gateway upgrades and the launch of eight spare satellites to augment its current constellation.

The offer of stock will be make only by a prospectus. The price range for the offering and the number of shares to be offered has not been announced. A copy of the prospectus once available can be obtained form Wachovia Capital Markets.

The registration statement is not yet effective but has been filed with the Securities and Exchange Commission. Prior to registration statement becoming effective securities cannot be sold nor offers accepted.

posted by David and Brooke @ 12:07 PM