HUGH » Topics » The Hughes Communications/SkyTerra Separation

This excerpt taken from the HUGH 8-K filed Mar 29, 2006.

The Hughes Communications/SkyTerra Separation

On February 21, 2006, SkyTerra and our parent, Hughes Communications, separated into two publicly owned companies when SkyTerra, which then owned all of the outstanding shares of Hughes Communications’ common stock, distributed those shares to each holder of SkyTerra’s common, non-voting common and preferred stock and its Series 1-A and 2-A warrants. Following the distribution, SkyTerra no longer owns any Hughes Communications stock and accordingly no longer has an equity interest in our company. Hughes Communications is now a separate publicly-owned company (OTCBB: HGCM) operating the businesses transferred to it under the December 31, 2005 separation agreement. As a result of the distribution, Apollo, the controlling stockholder of SkyTerra, became the controlling stockholder of Hughes Communications.

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