Directorate Change

RNS Number : 4654A

Fastjet PLC

29 September 2015

 

fastjet Plc

("fastjet" or the "Company")

29 September 2015

Directorate Change

fastjet announces the appointment of Tim Ingram as Non-Executive Director of the Company with immediate effect , to act as a representative of easyGroup Holdings which holds 9.89% of the Company's issued share capital.

Tim's early career was in international banking which included a two and a half year period as chief executive of a bank in the Democratic Republic of Congo. His last executive job was as Chief Executive of Caledonia Investments plc, from which he retired in July 2010. He is currently chairman of Greencoat UK Wind plc, of the European subsidiaries of QBE Insurance Group and of the Wealth Management Association. He is a member of the Takeover Panel.

Tim is the beneficial owner of 38,341 ordinary shares in fastjet plc, representing 0.06% of the Company's issued share capital.

The names of all companies and partnerships of which Timothy Charles William Ingram, aged 68, has been a director or partner at any time in the previous five years are set out below:

Company	Status
Alliance Trust plc	Previous
Alok Industries Ltd	Previous
ANZ Bank (Europe) Ltd	Previous
Clayesmore School	Current
Collins Stewart Hawkpoint plc	Previous
English Touring Opera Ltd	Previous
Fulham Palace Enterprises Community Interest Company	Current
Fulham Palace Trust	Current
QBE (European Operations) Ltd	Current
QBE Insurance (Europe) Ltd	Current
QBE Re (Europe) Ltd	Current
QBE Underwriting Ltd	Current
RSM Tenon Group plc*	Previous
Sage Group plc	Previous
Savills plc	Previous
Wealth Management Association (formerly Association of Private Client Investment Managers and Stockbrokers)	Current
The Ingram (409) LLP	Current

* Tim Ingram was appointed to the board of RSM Tenon Group plc (RSM Tenon Group) as non-executive chairman, with the consent of Lloyds Bank Group plc (Lloyds), in order to find a solution to its over-indebtedness, including to Lloyds. His position commenced on 31 May 2012 and concluded on 22 August 2013 when three insolvency practitioners from Deloitte LLP were appointed as administrators by the board. RSM Tenon Group is a non-trading holding company and, while it entered into administration, its subsidiaries continued to trade as normal. Immediately on appointment the administrators sold RSM Tenon Group's subsidiaries to Baker Tilly UK Holdings Ltd. There is not expected to be any return of value to shareholders in RSM Tenon Group. Creditors, other than Lloyds who consented to the administration, are not expected to suffer material losses. Lloyds, however, will not recover its secured debt in full.

There are no other matters which are required to be announced pursuant to paragraph (g) of Schedule 2 to the AIM Rules.

Ends

For more information, contact:

UK media - Citigate Dewe Rogerson	Tel: [phone]
Angharad Couch
Toby Moore
Nick Hayns
South African media - Tribeca Public Relations	Tel:  [phone]
Cian Mac Eochaidh
Kelly Webster
For investor enquiries please contact:
Liberum Capital Limited - Nominated Adviser and Joint Broker	Tel:  [phone]
Clayton Bush
Christopher Britton
W.H. Ireland Ltd.- Joint Broker	Tel: [phone]
James Joyce
Mark Leonard
Sanlam Securities UK Limited - Joint Broker	Tel:  [phone]
Simon Clements Ken Williams

NOTES TO EDITORS

About fastjet plc

fastjet Plc is the holding company of the low cost airline fastjet which commenced flights under the fastjet brand in Tanzania in November 2012. By adhering to international standards of safety, quality, security and reliability; fastjet has brought a new flying experience to the African market at unprecedented low prices. Utilising its fleet of Airbus A319s, fastjet is implementing the low-cost model across Africa and its long-term strategy is to become the continent's first low-cost, pan-African airline.

The results of a customer satisfaction survey showed that 100% of customers were likely to recommend fastjet to a friend. In developing its strong brand and identity, fastjet has won and been nominated for a number of awards, including winning three Transform awards for the rebrand and launch of fastjet, the award for "Brand Strategy of the Year" at 2014's Drum Marketing Awards in London, and the Transport Innovator Award at the 8th Transport Africa Awards 2015 in Johannesburg.

fastjet plc is quoted on the London Stock Exchange's AIM market.

For more information see www.fastjet.com

 

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