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Beam Communications Holdings Limited ( (AU:BCC) ) has shared an announcement.
Beam Communications Holdings Limited has initiated arbitration proceedings against Roadpost Inc. due to a payment default related to Beam’s 50% share in the Zoleo Inc. joint venture. Roadpost failed to make the first installment payment by the deadline, prompting Beam to seek a declaration of breach of the JV Agreement and demand immediate payment of the full purchase price. Beam expects this arbitration to proceed more quickly than previous disputes and emphasizes that this action does not affect obligations under a separate Settlement Agreement.
More about Beam Communications Holdings Limited
Beam Communications Holdings Limited is an Australian publicly-listed company that specializes in the design, development, sub-contract manufacture, and distribution of satellite, cellular, and dual-mode equipment applications and services. The company has developed several world-first innovations and its products and services are used by major satellite and telecommunications companies, including Iridium, Telstra, KDDI, Inmarsat, and Thuraya. Beam is also known for the ZOLEO device, which generates recurring subscription revenues.
Average Trading Volume: 101,825
Technical Sentiment Signal: Buy
Current Market Cap: A$11.67M
Learn more about BCC stock on TipRanks’ Stock Analysis page.