17th Mar 2008 07:01
Avanti Communications Group Plc17 March 2008 Date: 17 March 2008On behalf of: Avanti Communications Group plc ("Avanti" or "the Company")Embargoed until: 0700hrs Avanti Communications Group plc• Contract win Avanti Communications Group plc (AIM: AVN), the satellite operator, is pleasedto announce that it has entered into a contract to sell 36 MHz of capacity onits HYLAS satellite on a five year term to Datasat Communications Limited. Thetotal contract value exceeds £5m and carries pricing that dramatically exceedsprevious pricing achieved. The contract is structured as an Advanced First Right of Refusal ("AFRR")whereby the customer has a limited period of exclusivity prior to making adefinitive commitment to purchase the capacity at the pre-agreed price. Asignificant non-refundable six figure fee has been paid to Avanti to secure thisAFRR and the customer is expected to complete long form contracts within a fewweeks. This structure is typical in the satellite industry where capacity isin short supply and customers are keen to secure availability. Enquiries to: Avanti Communications Group plc http://www.avanti-communications.com/David Williams 020 7749 1600 Redleaf Communications Ltd http://www.redleafpr.com/Samantha Robbins / Anna Dunkin 020 7822 0200 [email protected] Cenkos Securities http://www.cenkos.comIvonne Cantu / Julian Morse 020 7397 8900 Notes to Editors: About Avanti Communications • Avanti Communications Group's shares were admitted to AIM on 16 April 2007; • Avanti Communications Group is the only licensed Fixed Satellite Services operator headquartered in the UK (and one of only eight such groups operating in Europe); • Avanti is licensed to provide satellite services using spectrum which provides coverage of Europe, India, The Middle East, Central Asia, Africa and the Americas. • Avanti's first satellite, called HYLAS is under construction and due for launch in 2009; the company plans further satellite projects; • Avanti, which has over 10 years' experience in the satellite industry, currently provides satellite data communications services to customers in Europe using leased satellite capacity which it will transfer to HYLAS on launch; • It's customers include broadband service providers, large businesses, the British and foreign governments, the European Union and the European Space Agency; • The core applications for which Avanti expects HYLAS capacity to be used are broadband, corporate data networks, video distribution and military/ security; • No further funding is required for the HYLAS project following successful completion of a long term debt facility in July 2007. About Datasat Communications Limited Datasat Communications is a privately owned turnkey solutions company, with 20years' experience in the satellite communications industry. Datasat hassuccessfully provided many government organisations, blue chip clients andprivate service network providers with system solutions, from singlepoint-to-point links to fully integrated and managed network services. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AVN.L