April 23 (Reuters) - Speedcast International Ltd (SDA) :...

April 23 (Reuters) - Speedcast International Ltd (SDA) :

• INITIATED A VOLUNTARY FINANCIAL RESTRUCTURING UNDER CHAPTER 11 OF UNITED STATES BANKRUPTCY CODE.
• EXPECTS TO HONOUR CUSTOMER & EMPLOYEE COMMITMENTS WORLDWIDE
• WHILE UNDER COURT'S PROTECTION, INTENDS TO CONTINUE GLOBAL OPERATIONS UNINTERRUPTED
• EXPECTS TO PAY SUPPLIERS IN NORMAL COURSE OF BUSINESS FOR ALL GOODS AND SERVICES FROM TODAY FORWARD
• INTENDS TO PAY EMPLOYEES AS USUAL, REGARDLESS OF ENTITY OR WHERE THEY ARE BASED
• DYNAMICS INCLUDING COVID-19 MADE IMPOSSIBLE FOR CO TO COMPLETE PLANNED EQUITY RAISE OR ANY RECAPITALIZATION TRANSACTION
• EXPECTS SHARES WILL REMAIN SUSPENDED FROM TRADING UNTIL AT LEAST END OF CHAPTER 11 PROCESS