Next-Generation Satellite Communications (NGSC) is proposing a selective capital reduction move to return $7.36 million in cash to shareholders, or 0.155 cent per share for a total of 4.749 billion shares.

As at July 12, NGSC has a total issued and paid-up share capital of $145.6 million comprising 6.425 billion shares in issue and 24.2 million treasury shares; it has only one class of shares in issue.

The reduction will see the company reducing its total number of issue shares by 73.91%, from $145.6 million comprising 6.425 billion shares to $138.3 million comprising 1.676 billion shares.

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