[Satellite Today 12-30-08] Due to the uncertainty of capital markets, Norsat International has extended the term of 366,690 common share purchase warrants that were issued as part of an offering under the company’s employee share ownership plan, Norsat announced Dec. 24.
    Norsat applied to and received TSX approval to extend the expiry date of the warrants until Jan. 12, 2011. The effective date of the extension will be from the current expiry date of Jan. 12, 2009.
    Warrants held by insiders are also part of the extension, however, their term extension is subject to disinterested shareholder approval by virtue of TSX policies.
Norsat said it would seek disinterested shareholder approval at its next AGM scheduled for May 2009. Warrants held by its insiders cannot be exercised until Norsat receives the required disinterested shareholder approval of the extension.