Issue of Equity to Raise ?500,000

RNS Number : 0475W

Fastjet PLC

22 January 2013

 



22nd January 2013

Fastjet plc

('fastjet' or the 'Company')

Issue of Equity to raise £500,000

fastjet (AIM:FJET) is pleased to announce that it has raised £500,000 via a draw down on its Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin"), a majority owned subsidiary of Henderson Global Investors Volantis Fund.

Under the terms of the EFF agreement the Company raised gross proceeds of £500,000by way of the issue of 12,500,000 new ordinary shares of 1p each to Darwin (the "EFF Shares"). The new EFF Shares have been issued at a gross price of 4p per share and rank pari passu in all respects with existing ordinary shares of 1p each in fastjet.

Application will be made to the London Stock Exchange for the 12,500,000 EFF Shares to be admitted to trading on AIM. It is expected that the admission will become effective and that trading in the new Shares will commence on 25^th January 2013 ("Admission").

Funds will be used for general working capital and expansion of the fastjet network in Africa.

Following Admission, the Company's enlarged issued share capital will comprise of 1,888,111,005 ordinary shares with voting rights. This figure of 1,888,111,005 ordinary shares 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 FSA's Disclosure and Transparency Rules.

ENDS

For further information, please contact:

fastjet Plc                                                                                 Tel: [phone]

Ed Winter

David Lenigas

Angus Saunders

Geoffrey White

W.H. Ireland Ltd.                                                                       Tel: [phone]

James Joyce

Nick Field

Darwin Strategic Ltd.                                                                 Tel [phone]

Anand Sambasivan

Jamie Vickers

Citigate Dewe Rogerson                                                             Tel: [phone]

Angharad Couch

Sally Marshak

Eleni Menikou

 

END

 

 

IOELFFSFLSILFIV