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Directors Shareholding

8th Dec 2010 07:00

RNS Number : 5507X
Avanti Communications Group Plc
08 December 2010
 



Date:

7 December 2010

On behalf of:

Avanti Communications Group plc ("Avanti" or "the Company")

 

 

 

Avanti Communications Group plc

Directors Shareholdings

 

Avanti Communications Group plc (AIM: AVN), the broadband satellite operator, was today notified by John Brackenbury, Chairman, that he had sold 130,000 ordinary shares in the Company at a price of 710 pence per share. This sale will facilitate the settlement of debts arising from the tax paid and payable in relation to the exercise of share options in 2007 and 2010 which he has held continuously since that time.

 

John Brackenbury now holds a total direct and indirect voting right interest in 312,891 ordinary shares in the Company, being approximately 0.37% of the issued ordinary share capital of Avanti Communications Group plc.

 

---ENDS---

 

For further information please contact:

 

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

David Williams

 

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

Julian Morse / Max Hartley

 

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

Julian Smith / Oliver Griffiths

 

Redleaf Communications Ltd Tel: +44 (0) 20 7566 6700

Samantha Robbins / Paul Dulieu

 

 

Notes to Editors:

About Avanti

 

¡ Avanti sells satellite broadband services at speeds of up to 10Mbps 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 to serve Europe.

¡ Avanti's second satellite called HYLAS 2 is fully funded and is on target to launch in Q2 2012. It will extend Avanti's coverage to Africa and the Middle East.

¡ The market for 2Mb satellite broadband products in the markets served by Avanti is estimated at more than 100 million households.

 

 

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