Avanti Communications Group Plc Issue of Equity (9749B)
October 12 2015 - 8:34AM
UK Regulatory
TIDMAVN
RNS Number : 9749B
Avanti Communications Group Plc
12 October 2015
12 October 2015
Avanti Communications Group plc (AIM: AVN, "Avanti" or "the
Company"), the satellite operator, announces that it has issued
2,000,000 new ordinary shares of 1p each ("New Ordinary Shares") in
the Company to the trustee of the Company's Employee Benefit Trust,
at a price of 1p per share. These New Ordinary Shares are being
issued to facilitate the award of share options to employees across
the Company.
Application has been made for the New Ordinary Shares to be
admitted to trading on AIM and it is anticipated that admission
will become effective on 16 October 2015. Following admission, the
Company's issued share capital will consist of 147,396,350 ordinary
shares of 1p each.
For further information please contact:
Avanti: Matthew Springett, +44 (0)207 749 6703
Cenkos Securities: Max Hartley (Nomad) / Julian Morse, +44
(0)207 397 8900
Montfort: Nick Miles / James Olley, +44 (0)203 770 7909
Redleaf: Hannah Nicolas, +44 (0)207 382 4734
About Avanti Communications
Avanti connects people wherever they are - in their homes,
businesses, in government and on mobiles. Through the HYLAS
satellite fleet and more than 150 partners in 118 countries, the
network provides ubiquitous internet service to 27 per cent of the
world's population. Avanti delivers the level of quality and
flexibility that the most demanding telecoms customers in the world
seek.
Avanti is the first mover in high throughput satellite data
communications in EMEA. It has rights to orbital slots and Ka-band
spectrum that cover an end market of over 1.5bn people. The Group
has invested $1.2bn in a network that incorporates satellites,
ground stations, datacentres and a fibre ring. Avanti has a unique
Cloud based flexible customer interface that is protected by
patented technology.
The Group has three satellites in orbit and a further two fully
funded satellites under construction. Avanti Communications is
listed in London on AIM (AVN:LSE).
This information is provided by RNS
The company news service from the London Stock Exchange
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