WESTMINSTER, CO, Nov. 16, 2018 /PRNewswire/ - Maxar Technologies
(NYSE:MAXR) (TSX:MAXR) ("Maxar" or the "Company"), a global
technology innovator powering the new space economy, today
announced that shareholders approved the Company's U.S.
domestication at a special meeting held earlier today in
Westminster, Colorado.
A total of 227 holders of common shares of the Company,
representing approximately 76% of the Company's issued and
outstanding common shares, voted in connection with the meeting,
with 99.8% voting in favor of the U.S. domestication and more than
99.8% of the common shares and LTIP Units voted at the meeting,
voting as a single class, voted in favor of the U.S.
domestication.
"We are pleased that shareholders overwhelmingly approved our
plan for U.S. domestication and we look forward to completing the
process by the beginning of 2019," said Maxar President and CEO
Howard Lance. "U.S. domestication
fulfills a commitment made as part of the acquisition of
DigitalGlobe in October 2017 and
marks a major milestone in our strategic objectives to gain a
stronger presence in the U.S. space and defense markets and enhance
our ability to support classified applications for U.S. Government
agencies."
Following the U.S. domestication effective date, Maxar will
continue to list its shares on both the New York Stock Exchange
(NYSE) and Toronto Stock Exchange (TSX). Maxar does not anticipate
that the U.S. domestication will have any impact on its employees,
customers, suppliers, or other key stakeholders. As previously
announced, Maxar will transition to U.S. GAAP accounting standards
and U.S. domestic securities filings effective with its U.S.
domestication. The Company believes this transition will make its
financial results more transparent to a wider audience of investors
and provide increased comparability with U.S. aerospace and defense
peer companies.
Subject to obtaining required court approvals, as well as the
satisfaction of other conditions precedent, Maxar anticipates that
the U.S. domestication will be completed on or about January 1, 2019.
About Maxar Technologies
As a global leader of
advanced space technology solutions, Maxar Technologies (formerly
MacDonald, Dettwiler and
Associates) is at the nexus of the new space economy, developing
and sustaining the infrastructure and delivering the information,
services, systems that unlock the promise of space for commercial
and government markets. As a trusted partner, Maxar Technologies
provides vertically integrated capabilities and expertise including
satellites, Earth imagery, robotics, geospatial data and analytics
to help customers anticipate and address their most complex
mission-critical challenges with confidence. With more than 6,500
employees in over 30 global locations, the Maxar Technologies
portfolio of commercial space brands includes MDA, SSL,
DigitalGlobe and Radiant Solutions. Every day, billions of people
rely on Maxar to communicate, share information and data, and
deliver insights that Build a Better World. Maxar trades on the
Toronto Stock Exchange and New York Stock Exchange as MAXR. For
more information, visit www.maxar.com.
Forward-Looking Statements
Certain statements and other information included in this release
constitute "forward-looking information" or "forward-looking
statements" (collectively, "forward-looking statements") under
applicable securities laws. Statements including words such as
"may", "will", "could", "should", "would", "plan", "potential",
"intend", "anticipate", "believe", "estimate" or "expect" and other
words, terms and phrases of similar meaning are often intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
Forward-looking statements involve estimates, expectations,
projections, goals, forecasts, assumptions, risks and
uncertainties, as well as other statements referring to or
including forward-looking information included in this
release. Such forward-looking statements include, but are not
limited to, statements relating to the U.S. domestication and its
timing, the required approvals and conditions precedent and other
statements that are not historical facts.
Forward-looking statements are subject to various risks and
uncertainties which could cause actual results to differ materially
from the anticipated results or expectations expressed in this
release. As a result, although management of the Company believes
that the expectations and assumptions on which such forward-looking
statements are based are reasonable, undue reliance should not be
placed on the forward-looking statements because the Company can
give no assurance that they will prove to be correct. The risks
that could cause actual results to differ materially from current
expectations include, but are not limited to: failure to obtain any
required approvals in a timely manner; failure of the U.S.
domestication to be completed for any reason (or to be completed in
a timely manner); failure to achieve the perceived benefits of the
U.S. domestication; the incurrence of costs associated therewith
beyond those estimated; unanticipated adverse tax consequences; and
the other risk factors and other disclosures about the Company and
its business and the U.S. domestication included in the Company's
continuous disclosure materials filed from time to time with
Canadian and U.S. securities regulatory authorities (including the
management information circular filed for the meeting), which are
available online under the Company's SEDAR profile at
www.sedar.com, under the Company's EDGAR profile at www.sec.gov or
on the Company's website at www.maxar.com.
The forward-looking statements contained in this release are
expressly qualified in their entirety by the foregoing cautionary
statements. All such forward-looking statements are based upon data
available as of the date of this presentation or other specified
date and speak only as of such date. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements in this release as a result of new information or future
events, except as may be required under applicable securities
legislation.
Investor Relations Contact:
Jason Gursky
Maxar VP Investor Relations
1-303-684-2207
jason.gursky@maxar.com
Media Contact:
Turner
Brinton
Maxar Media Relations
1-303-684-4545
turner.brinton@maxar.com
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SOURCE Maxar Technologies Ltd.