RNS Number : 4530Q
Avanti Communications Group Plc
03 August 2010
Date: 3 August 2010
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 received notification on 29 July 2010 from Caledonia Investments plc that, as at the same date, it held 11,636,956 ordinary shares in Avanti Communications, being approximately 14.49% of the issued ordinary share capital of the Company.
The Company also received notification on 29 July 2010 from Aegon UK that, as at the same date, it held 3,566,516 ordinary shares in Avanti Communications, being approximately 4.44% of the issued ordinary share capital of the Company.
Finally, the Company received notification on 29 July 2010 from Avenue Europe Management LLP ("Avenue") that as at 28 July 2010 Avenue no longer had a notifiable interest in the issued ordinary share capital of the Company.
For further information please contact:
Avanti Communications Group Plc Tel: +44 (0) 20 7749 1600
Cenkos Securities Tel: +44 (0) 20 7397 8900
Julian Morse / Max Hartley
Jefferies International Limited Tel: +44 (0) 20 7029 8000
Rupert Mitchell / Oliver Griffiths
Redleaf Communications Ltd Tel: +44 (0) 20 7566 6700
Emma Kane / Paul Dulieu
Notes to Editors:
· Avanti sells satellite broadband services to telecoms companies which use them to supply residential, enterprise and institutional customers.
· Avanti's first satellite, called HYLAS 1 will launch in Q3 2010 and will be the first superfast broadband satellite launched in Europe.
· Avanti's second satellite called HYLAS 2 is fully funded and will launch in Q2 2012. It will extend Avanti's coverage to Africa and the Middle East.
· The market for satellite broadband products in the markets served by Avanti is estimated at more than 100 million households.
· Avanti's systems can provide consumer broadband services at speeds of 10Mb per second at competitive prices, and other wholesale services at up to 200Mb.
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