27th Jul 2007 16:54
Avanti Communications Group Plc27 July 2007 27 July 2007 Avanti Communications Group plc ("Avanti" or "the Company") Issue of Shares to the Employee Benefit Trust In accordance with the plans set out in the Admission to AIM document AvantiCommunications Group plc (AIM: AVN) has issued 3,213,562 ordinary shares at par("Shares") to its Employee Benefit Trust which will hold them to satisfy thepotential future exercise of options granted under various employee share optionschemes and awards made under long-term incentive plans ("LTIPs"). The Trustees of the Employee Benefit Trust have waived dividends that become duefrom time to time in the future while the shares remain in the trust and theseShares will not be entitled to voting rights unless options are exercised orLTIP awards vest following satisfaction of performance conditions. In normalcircumstances there can only be full exercise or vesting after seven years ifthose conditions have been satisfied. Options will lapse and LTIP awards willbe subject to forfeiture if performance conditions are not met. These sharesrepresent 10.4% of the issued share capital. Commenting, John Brackenbury, CBE, Chairman of Avanti, said: "The use of tax efficient equity incentive plans will reward and retain keystaff during this key development phase of the business. It will align theinterests of employees with those of shareholders in generating a significantand enduring increase in share price over a seven year period." Enquiries: Avanti Communications Chief Executive - David Williams 020 7749 1600 Hoare Govett Justin Jones / Hugo Fisher 020 7678 8000 College Hill Sara Musgrave / Carl Franklin / Rozi Morris 020 7457 2049 Avanti Communications Group Avanti Communications Group is the only licensed fixed satellite operatorheadquartered in the UK (and one of only nine such groups operating in Europe).Avanti is licensed to use approximately 18 GHz of satellite radio frequencyspectrum in several orbital positions covering the Americas, Europe, Africa, theMiddle East and Asia. The Company's first satellite called HYLAS, is fullyfinanced and under construction for delivery in December 2008. HYLAS uses uniquetechnologies to provide highly flexible and cost effective satellite capacity. Avanti Communications currently provides satellite network services to customersin Europe (using leased satellite capacity) which will transfer to HYLAS onlaunch. Avanti sells wholesale HYLAS capacity to telecoms and media serviceproviders in Europe. The core applications for which Avanti expects HYLAScapacity to be used are corporate data networks, broadband and videodistribution. Avanti Communications Group's shares were admitted to AIM on 16 April 2007following the de-merger of the business from Avanti Screenmedia Group plc. About HYLAS HYLAS uses an advanced communications payload. The design incorporates: • Eight ka band spot beams which provide high power two-way capacity suitable for high data telecommunications and HDTV; and • A single Ku band European beam suitable for traditional video distribution and data multicast services. Unlike traditional satellites with fixed beam designs, HYLAS can dynamicallyallocate power between different beams and is capable of adapting while in orbitto use a wide range of different frequencies allowing it to be used effectivelyin many different orbital positions. HYLAS is relatively inexpensive because itsflexible payload allows it to extract 40 x 36 MHz transponder equivalents from alaunch mass of just 2.5 tonnes. HYLAS has a design life of 15 years. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AVN.L