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Avanti Comms Group (AVN)

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Tuesday 07 July, 2009

Avanti Comms Group

Holdings in Company

RNS Number : 2908V
Avanti Communications Group Plc
07 July 2009

Date:                        Tuesday 7 July 2009

On behalf of:        Avanti Communications Group plc ('Avanti' or 'the Company')

Avanti Communications Group plc

  • Holdings in Company

Avanti Communications Group Plc (AIM: AVN), the broadband satellite operator, announces that it has today received notification from Caledonia Investments plc that it now holds 9,473,956 ordinary shares in Avanti Communications, being approximately 22.62% of the issued ordinary share capital of the Company.

Enquiries to:

Avanti Communications Group plc

David Williams/Nigel Fox 

020 7749 1600

Redleaf Communications Ltd 

Samantha Robbins/ Paul Dulieu

020 7566 6700 

Cenkos Securities

Ivonne Cantu / Julian Morse

 020 7678 8000

Notes to Editors:

About Avanti Communications

  • Avanti sells satellite broadband services to telecoms companies which use them to supply homes and businesses.

  • Avanti's first satellite, called HYLAS is under construction and will be the first superfast broadband satellite launched in Europe.

  • The market for satellite broadband products in Europe is estimated by the EU at more than 24 million.

  • Avanti currently provides satellite broadband services to customers in Europe using leased satellite capacity which it will transfer to HYLAS on launch.

  • The European Commission has set aside funding for rural broadband projects in 79 regions across Europe with a total value of €2.8 billion over the next five years.  

This information is provided by RNS
The company news service from the London Stock Exchange