SatPoint Receives Funding and New Owners

Thursday, February 07, 2008
SatPoint a provider of maritime broadband and GSM services, has received new funding through a directed issue to the Swedish investment companies Itum Invest AB and Ponderus Invest AB. The two companies are together holding the majority of shares in SatPoint. Itum Invest will be represented on the Board of Directors by Michael Olsson and Kenth Eriksson. Mr Olsson and Mr Eriksson are leading industrialists and executives with backgrounds in white goods multinational Electrolux and as founders of Tradimus, an industrial logistics and support service provider, which they successfully led to a turnover of 400 m euro. Ponderus Invest will be represented by Peter Edwall. Edwall is a prominent Swedish fund manager with 25 years of close relations to the Nordic shipping industry. Remaining ownership is with Nordfirst Invest AB and SatPoint management.

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