20th Sep 2007 07:01
Avanti Communications Group Plc20 September 2007 Date: 20 September 2007On behalf of: Avanti Communications Group plc ("Avanti" or "the Company")Embargoed until: 0700hrs Avanti Communications Group plcNotice of Preliminary Results Avanti Communications Group plc (AIM: AVN), the satellite operator, will beannouncing its preliminary results for the year ended 30 June 2007 on Monday, 1October 2007. An analysts' briefing will be held at 0930hrs at the offices of ABN AMRO, 250Bishopsgate, London EC2M 4AA. 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/Adam Leviton 020 7822 0200 [email protected] Notes to Editors: About Avanti Communications - Avanti Communications Group's shares were admitted to AIM on 16 April 2007; - Avanti Communications Group is the only licensed fixed satellite operator headquartered in the UK (and one of only eight such groups operating in Europe); - Avanti has the right to provide satellite services using licensed radio frequency spectrum which provides coverage of Europe, India, The Middle East, Central Asia, Africa and Latin America. - Avanti's first satellite, called HYLAS is under construction and due for launch in 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 Europe using leased satellite capacity which it will transfer to HYLAS on launch; - Its customers include broadband service providers, businesses of all sizes, the British and foreign governments, the European Union and the European Space Agency; - The core applications for which Avanti expects HYLAS capacity to be used are broadband, corporate data networks, video distribution and military/ security. - Avanti recently signed a debt facility agreement to borrow £32m. The debt facility provides sufficient capital for Avanti to complete the financing of its satellite construction, launch, insurance and operation together with working capital. No further funding is expected to be required for the HYLAS project; This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AVN.L