Fastjet PLC Result of General Meeting (9780T)
October 18 2017 - 8:53AM
UK Regulatory
TIDMFJET
RNS Number : 9780T
Fastjet PLC
18 October 2017
fastjet Plc
("fastjet" or the "Company")
18 October 2017
Result of General Meeting
On 29 September 2017, fastjet announced a proposed placing to
raise gross proceeds of US$28.0m through the issue of 104,428,724
new ordinary shares by way of a placing (the "Placing") at a price
of 20 pence per share (the "Issue Price").
The Company also announced that it had entered into subscription
agreements with Solenta Aviation Holdings Limited ("SAHL") in
respect of which SAHL had agreed to subscribe for 60,634,329 new
ordinary shares (the "Subscription Shares") at the Issue Price
raising gross proceeds of US$16.2m (the "Subscription"), subject to
completion of the Placing. In aggregate, the Placing and
Subscription raised gross proceeds of US$44.2m.
In addition, the Company announced that it had established an
employee benefit trust that will subscribe for 21,504,112 shares
("EBT Subscription Shares").
The Company is pleased to announce that at the general meeting
of the Company held earlier today to approve, inter alia, certain
matters necessary to enable the Placing and the issue of the
Subscription Shares and the EBT Subscription Shares to proceed, all
resolutions put to shareholders were duly passed.
Accordingly, the Company has applied to the London Stock
Exchange for 186,567,165 ordinary shares to be admitted to trading
on AIM ("Admission"). It is expected that Admission will occur at
8.00am on 19 October 2017.
Following Admission, the Company's issued share capital will
comprise 522,406,827 ordinary shares of 1p each and may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the FCA's Disclosure Guidance and Transparency
Rules. The Company does not hold any shares in treasury.
This announcement contains inside information which is disclosed
in accordance with the Market Abuse Regulation (EU) No.
596/2014.
For more information, contact:
fastjet Plc Tel: +44 (0) 20 3651
6307
Nico Bezuidenhout, Chief
Executive Officer
Michael Muller, Chief Financial
Officer
UK media - Citigate Dewe Tel: +44 (0) 20 7638
Rogerson 9571
Angharad Couch, Eleni Menikou,
Toby Moore, Nick Hayns
South African media - Hein Tel: +27 (0) 82 520
Kaiser 0555
For investor enquiries please
contact:
Liberum Capital Limited Tel: +44 (0) 20 3100
- Nominated Adviser and 2222
Broker
Clayton Bush, Jill Li, Neil
Elliot
NOTES TO EDITORS
About fastjet Plc
fastjet is a multi-award winning (including Skytrax World
Airline Awards Best Low-Cost Airline in Africa 2017) low-cost
African airline for everyone. It began flight operations in
Tanzania in November 2012, flying passengers from Dar es Salaam to
just two domestic destinations - Kilimanjaro and Mwanza. Today,
fastjet's route network includes Tanzanian domestic routes from its
Dar es Salaam base to Kilimanjaro, Mbeya, and Mwanza, and
international routes from Tanzania to Lusaka in Zambia and Harare
in Zimbabwe. fastjet also began flight operations from its Zimbabwe
base in October 2015, and now flies domestically from Harare to
Victoria Falls, Harare to Dar es Salaam and internationally from
both Harare and Victoria Falls to Johannesburg in South Africa. The
airline has flown over 2.5 million passengers with an impressive
aggregate 94% on-time performance, establishing itself as a
punctual, reliable, and affordable low-cost carrier.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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