28th Feb 2008 07:01
Avanti Communications Group Plc28 February 2008 Date: 28 February 2008On behalf of: Avanti Communications Group plc ("Avanti" or "the Company")Embargoed until: 0700hrs Avanti Communications Group plc • Holdings in Company Avanti Communications Group Plc (AIM: AVN), the satellite operator, announcesthat it has today received notification from Caledonia Investments plc that itpurchased a further 274,411 ordinary shares in the Company on 27 February 2008.Caledonia Investment plc now holds 6,762,845 ordinary shares in AvantiCommunications, being approximately 24.41% of the issued ordinary share capitalof the Company. - Ends - 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 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 April2007; - Avanti Communications Group is the only licensed Fixed SatelliteServices operator headquartered in the UK (and one of only eight such groupsoperating in Europe); - Avanti is licensed to provide satellite services spectrum which providescoverage of Europe, India, The Middle East, Central Asia, Africa and LatinAmerica. - Avanti's first satellite, called HYLAS is under construction and due forlaunch 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 allsizes, the British and foreign governments, the European Union and the EuropeanSpace Agency; - The core applications for which Avanti expects HYLAS capacity to be usedare broadband, corporate data networks, video distribution and military/security; - Avanti recently signed a debt facility agreement to borrow £32m. Thedebt facility provides sufficient capital for Avanti to complete the financingof its satellite construction, launch, insurance and operation together withample working capital headroom. No further funding is required for the HYLASproject. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AVN.LCaledonia