FREMONT, Calif., Jan. 13, 2020 /PRNewswire/ -- (OTCQX: AKOM; Euronext Paris: AKOM) -- Aerkomm Inc. ("Aerkomm"), a development stage service provider of in-flight entertainment and connectivity solutions for the airline industry, announced today that it has entered into a liquidity contract with Invest Securities, a Paris-based provider of investment services, member of the Euronext stock exchange with authorization from the Autorité de Contrôle Prudentiel et de Résolution (ACPR), and registered with the Register of Financial Agents (REGAFI), relating to Aerkomm shares (ISIN US00774B2088), which will be implemented immediately. This contract has been established in compliance with the provisions of the legal framework in force, and more particularly with the decision of the French financial market authority, the AMF, n°2018-01 of July 2, 2018 (the "AMF Decision") and any other provisions referred to therein.
The transactions in relation to the liquidity contract will be carried out on Euronext Paris (the "Market").
The performance of the liquidity contract may be suspended in the cases provided for in Article 5 of the AMF Decision and at Aerkomm's request. It is automatically suspended if the trading of Aerkomm shares is halted following a decision by Euronext Paris, for the duration of such halt. The contract, which has a term of two years and which may be renewed by formal agreement between the parties for successive one-year terms, may be terminated at any time by Aerkomm.
For the implementation of this contract, the following resources will be recorded on the liquidity account: 200,000 euros in cash.
About Aerkomm Inc.
Aerkomm Inc. (OTCQX: AKOM; Euronext Paris: AKOM), operating through its wholly owned subsidiary, Aircom Pacific, Inc., is a development stage service provider of in-flight entertainment and connectivity solutions for the airline industry. The Company strives to become a leading provider of a wide range of in-flight broadband entertainment and connectivity services, including Wi-Fi connectivity, cellular networks, movies, gaming, live television, and music. Aerkomm aims to reshape the market for in-flight entertainment and connectivity services by offering on-board connectivity to its airline partners and passengers for free, generating revenue through advertising and on-board transactions.
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our periodic filings with the Securities and Exchange Commission (the "SEC") under the Securities Exchange Act of 1934, as amended, as well as in our Registration Statement on Form S-1 Post-Effective Amendment No. 3 filed with the SEC (SEC File No. 333-222208) on May 17, 2019. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.