• Beam appoints Secretariat Advisors to determine fair market value of Zoleo Inc.
• Valuation report due by May 5, 2025, binding on both Beam and Roadpost
• Roadpost to pay Beam 25% of valuation within 30 days, balance in 3 annual instalments

Beam Communications Holdings Limited (ASX: BCC) has announced that it has agreed with its joint venture partner Roadpost Inc. to appoint Secretariat Advisors, LLC to determine the fair market value of all the issued and outstanding shares of Zoleo Inc. as at April 30, 2023. Secretariat, an international legal advisory and consulting firm, is scheduled to submit its valuation report on or before May 5, 2025, and both Roadpost and Beam are bound to the valuation with no course for appeal. Under the terms of the joint venture agreement, Roadpost is required to pay Beam a first instalment payment of 25% of the value of Beam's shares in Zoleo Inc. (as per Secretariat's valuation) within 30 days of the release of the report. The balance will be paid to Beam in three equal payments on the first, second and third anniversaries of the first payment. Beam's current Board of Directors intends to prioritise a capital return to shareholders following the receipt of these payments. This valuation does not include Beam's ZOLEO royalties from subscribers within its territories, which Roadpost has the option to purchase for around $3.5 million.