The Shareholders Agreement also ( i ) restricts the ability of holders of certain shares of Telesat to transfer such shares unless certain conditions are met or approval of the transfer is granted by the directors of Telesat , ( ii ) provides for a right of first offer to certain Telesat shareholders if a holder of equity shares of Telesat wishes to sell any such shares to a third party and ( iii ) provides for , in certain circumstances , tag - along rights in favor of shareholders that are not affiliated with Loral if Loral sells equity shares and drag - along rights in favor of Loral in case Loral or its affiliate enters into an agreement to sell all of its Telesat equity securities .