Issue of Equity

RNS Number : 1198V

Fastjet PLC

09 January 2013

 



9^th January 2013

Fastjet plc

('fastjet' or the 'Company')

Issue of Equity to raise £1.07m

fastjet (AIM:FJET) is pleased to announce that it has raised £1,066,667 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 £1,066,667 by way of the issue of 26,666,666 shares of 1p each to Darwin (the "EFF Shares"). The new EFF Shares have been issued at a 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 26,666,666 EFF Shares and 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 14 January 2013 ("Admission").

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

Following admission the issued ordinary share capital of the Company will be consisted of 1,875,611,005 ordinary shares ("Shares") with voting rights attached (one vote per ordinary share). There are no ordinary shares held in treasury.

The above total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Service Authority's Disclosure and Transparency Rules.

For further information, please contact:

Citigate Dewe Rogerson                                                 Tel: [phone]

Angharad Couch

Sally Marshak

Eleni Menikou

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

James Joyce

Nick Field

 

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