8th Dec 2010 07:00
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.
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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.
Related Shares:
AVN.L