1st Oct 2007 09:05
Avanti Communications Group Plc01 October 2007 Date: 1 October 2007 On behalf of: Avanti Communications Group plc ("Avanti" or "the Company") For immediate release Avanti Communications Group plc • Director Dealing Avanti Communications Group Plc ("Avanti Communications", "the Company", AIM:AVN), the satellite operator, was today notified by David Williams, ChiefExecutive, that he had purchased 10,526 ordinary shares in the Company throughhis pension scheme at a price of 190p per share. David Williams now holds atotal direct and indirect voting right interest in 1,442,547 ordinary shares inthe company, being approximately 5.21% of the issued ordinary share capital ofAvanti Communications of 27,708,503 ordinary shares of 1p each. Enquiries to: Avanti Communications Group plc http://www.avanti-communications.com/David Williams 020 7749 1600 Redleaf Communications Ltd http://www.redleafpr.com/Emma Kane/Samantha Robbins/Adam Leviton 020 7822 0200 [email protected] Hoare GovettJustin Jones/Hugo Fisher 020 7678 8000 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 spectrum which provides coverage of Europe, India, The Middle East, Central Asia, Africa and LatinAmerica. •Avanti's first satellite, called HYLAS is under construction and due for launch in March 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 Europeusing leased satellite capacity which it will transfer to HYLAS on launch; •Its customers include broadband service providers, businesses of all sizes, 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; •Avanti recently signed a debt facility agreement to borrow £32m. The debt facility provides sufficient capital for Avanti to complete the financing of its satellite construction, launch, insurance and operation together with ample working capital headroom. No further funding is required for the HYLAS project. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AVN.L