24th Sep 2018 08:57
LONDON (Alliance News) - Avanti Communications Group PLC on Monday said it secured a seven-year wholesale capacity lease contract worth USD84 million over the period.
The stock was trading 9.8% higher on Monday at 5.32 pence per share.
The satellite operator did not name the partner, but said it is an international satellite service provider.
Avanti expects to receive USD12 million per annum in quarterly instalments for the duration of the agreement, which will commence in the third quarter of 2019.
"This agreement is a major vote of confidence in the Avanti network and offer," said Chief Executive Kyle Whitehill.
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