Νεόφυτος Δημητρίου

(~k2pts)

  The total cost of the Hellas Sat program was approximately Euro 172.0 million.

  […]

    In 2008, HCL [Hellas SAT Consortium Limited] had consolidated revenues of Euro 25.5 million and a consolidated profit after tax of Euro 1.8 million as compared to consolidated revenues of Euro 22.8 million and consolidated profit after tax of Euro 1.5 million in 2007. Since HCL’s incorporation, OTE contributed initially U.S. $48.8 million and subsequently Euro 149.1 million to finance its share capital. On September 30, 2006, an amount of Euro 149.1 million, equal to the outstanding principal under the intra-group loan between OTE and HCL, plus accrued interest as of the date of the agreement, was converted into share capital of HCL, which increased OTE’s interest in its share capital to 99.05%.

  Hellas Sat is currently collaborating with the Greek State to update the concession agreement and Hellas  Sat’s special operating license, in order to reflect developments in Hellas Sat S.A.’s business since 2001. In addition, HCL has concluded negotiations with the Republic of Cyprus with respect to the timing and manner of payment of an amount of up to U.S. $11 million, which the Republic of Cyprus claims is payable under the relevant license. The parties have agreed to a price of U.S. $5 million in cash, pursuant to a set payment schedule, and additional consideration of U.S. $6 million in the form of services. Furthermore, HCL will provide for free 600 annual two-way broadband internet services, including the necessary equipment and the satellite transmission of the TV channel and three radio programs of the state Cyprus Broadcasting Corporation.

  — As filed with the Securities and Exchange Commission on June 30, 2009 - For the Fiscal Year ended December 31, 2008

  "After Capitalizing a debt of Euro 143.9 million, Hellas SAT has become profitable and thus none of our subsidiaries is loss making."

  — OTE - Annual Report 2006

  "Να σημειωθεί ότι ο Ηellas Sat έχει  ακόμη 10 χρόνια ζωής και  στη συνέχεια θα πρέπει να  αντικατασταθεί."

  — Φιλελεύθερος, 23/6/2009