1st Jul 2008 07:00
Date: 1st July 2008
On behalf of: Avanti Communications Group plc ("Avanti" or "the Company")
Embargoed until: 0700hrs
Avanti Communications Group plc
Directors Interests - David Williams
On 22 November 2007, in their capacity as trustee of the Company's Employee Benefit Trust and in accordance with the Company's Long Term Incentive Plan arrangements for directors, Bedell Trustees Limited established a revocable sub-fund of the main trust fund in favour of David Williams. As of 30 June 2008, 161,566 shares comprised in that sub-fund are no longer subject to automatic revocation if David Williams ceases to be an officer or employee of the Company, although they remain subject to revocation at the discretion of Bedell Trustees in accordance with the terms of the deed by which the sub-fund was established.
As such David Williams now has a direct and indirect interest in 1,619,306 shares (5.8%) in the Company.
Enquiries to:
|
Avanti Communications Group plc |
http://www.avanti-communications.com/ |
|
David Williams |
020 7749 1600 |
|
Redleaf Communications Ltd |
|
|
Emma Kane/ Samantha Robbins/ Rebecca Sanders-Hewett/ Anna Dunkin |
020 7822 0200 ad@redleafpr.com |
|
Cenkos Securities |
|
|
Ivonne Cantu / Julian Morse |
020 7678 8000 |
Notes to Editors:
About Avanti Communications
Avanti sells data telecoms services business to business using highly advanced Ka band satellites which it owns and operates.
Avanti has spectrum in three orbital positions which provide coverage of Europe, India, The Middle East, Central Asia, Africa and the Americas.
Avanti sells wholesale bandwidth and managed services in five application markets: broadband, corporate data networks, IP backbone, video distribution and military.
Avanti's first satellite, called HYLAS is under construction and due for launch in 2009; the company plans to launch further satellites.
The HYLAS project is fully funded following successful completion of a long term debt facility in July 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).
Related Shares:
AVN.L