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Contract Win

4th Jan 2012 07:00

RNS Number : 9423U
Avanti Communications Group Plc
04 January 2012
 



Date: 4th January 2012

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

Embargoed until: 0700hrs

 

Avanti Communications Group plc

 

Avanti signs contract with InSat GmbH

 

Avanti Communications Group Plc (AIM: AVN), the satellite operator, announces the sale of capacity on HYLAS 2 to InSat GmbH ("InSat") in a five year deal worth $7.3m.

 

David Williams, Chief Executive of Avanti, commented:

 

"I welcome InSat, a very well regarded service provider, to the HYLAS fleet. We are now just a few months away from the launch of HYLAS 2 and I am pleased to note the capacity is selling well. Several beams are already close to full saturation and others are fully optioned. The attractive demand growth characteristics in the Middle East and Africa in all segments combined with a benign macro-economic environment gives us great confidence that this satellite will sell out well within our five year target."

 

---ENDS---

 

For further information please contact:

 

Avanti Communications Group Plc Tel: +44 (0)20 7749 1600

David Williams / Sean Watherston

 

Cenkos Securities plc Tel: +44 (0) 20 7397 8900

Nicholas Wells (Nomad) / Julian Morse (Sales)

 

Jefferies International Limited Tel: +44 (0) 20 7029 8000

Julian Smith / Thomas Rider

 

Redleaf Polhill Tel: +44 (0) 20 7566 6700

Emma Kane / Paul Dulieu

Notes to Editors:

 

About Avanti

·; Avanti sells satellite data communications services to telecoms companies which use them to supply residential, enterprise and institutional users.

·; Avanti's first satellite called HYLAS 1, launched on November 26th 2010 and is the first superfast broadband satellite launched in Europe.

·; Avanti's second satellite, called HYLAS 2, is on target for launch in Q2 2012. It will extend Avanti's coverage to Africa and the Middle East.

 

About InSat

·; InSat GmbH was founded in 2000 and is located in Saarbrücken, Germany. InSat owns and operates its own satellite ground station and communications hub.

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