Avanti Communications Group Plc Clarification on Potential Director Holdings (2993K)
April 09 2018 - 9:16AM
UK Regulatory
TIDMAVN
RNS Number : 2993K
Avanti Communications Group Plc
09 April 2018
Avanti Communications Group plc
Clarification on Potential Director Holdings post the Open
Offer
Avanti Communications Group PLC (AIM: AVN), ("Avanti", the
"Company") announces that further to the announcement released at
8:25am today in relation to the proposed restructuring, the
proposed waiver of obligations under Rule 9 and the proposed open
offer and notice of general meeting ("Proposed Restructuring and
Open Offer"), the illustrative table setting out the Directors'
potential holdings after completion of the Proposed Restructuring
and Open Offer has been corrected to reflect the illustrative
position based upon their respective open offer entitlements
calculated off of the Company's existing share capital.
Number of Percentage Number of Percentage
Existing Ordinary of existing Ordinary Shares of Ordinary
Shares issued share (following Shares (following
capital Admission)(1) Admission)(1)
Kyle Whitehill - - - -
Paul Walsh(2) 230,000 0.14% 284,762 0.01%
David Bestwick(3) 1,301,954 0.80% 1,611,943 0.07%
Peter Reed - - - -
Craig Chobor - - - -
Michael Leitner - - - -
Andrew Green(4) 21,888 0.01% 27,099 0.00%
Paul Johnson(5) 10,000 0.01% 12,381 0.00%
Richard Mastoloni - - - -
Christopher McLaughlin - - - -
Alan Harper - - - -
Nigel Fox(6) 134,580 0.08% 166,623 0.01%
Total 1,698,422 1.05% 2,102,808 0.10%
1. Assumes that all of the Exchange Shares have been issued and
that 100 per cent. of the Ordinary Shares theoretically available
under the Open Offer are subscribed for in the Open Offer.
2. Paul Walsh has confirmed to the Company that he intends to
subscribe for his Open Offer Entitlement in full.
3. David Bestwick has confirmed to the Company that he intends
to subscribe for his Open Offer Entitlement at least in part. The
figures in this table assume that Mr Bestwick subscribes for his
Open Offer Entitlement in full.
4. Andrew Green has confirmed to the Company that he intends to
subscribe for his Open Offer Entitlement in full.
5. Paul Johnson has confirmed to the Company that he intends to
subscribe for his Open Offer Entitlement in full.
6. Nigel Fox has confirmed to the Company that he intends to
subscribe for his Open Offer Entitlement at least in part. The
figures in this table assume that Mr Fox subscribes for his Open
Offer Entitlement in full.
A further announcement will be made following the results of the
Proposed Restructuring and Open Offer.
For further information, please contact:
Avanti Communications Nigel Fox, Patrick Willcocks
Tel: +44 20 7749 1600
Montfort Nick Miles, James Olley
Tel: +44 203 770 7909
Cenkos Securities (Nomad) Max Hartley, Nicholas Wells, Harry
Hargreaves
Tel: +44 207 397 8900
Redleaf Communications Ralph Anderson
+44 (0)20 3757 6883
This information is provided by RNS
The company news service from the London Stock Exchange
END
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