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Result of General Meeting

28th Jul 2010 09:25

RNS Number : 0550Q
Avanti Communications Group Plc
28 July 2010
 



Date: Wednesday 28 July 2010

On behalf of: Avanti Communications Group plc ("Avanti" or "the Company")

 

Avanti Communications Group plc

 

Result of General Meeting and Total Voting Rights

 

 

Further to the announcement on 12 July 2010 detailing the conditional placing of a total of 16,279,070 ordinary shares of 1p each in the Company ("Ordinary Shares") at a placing price of 430 pence raising GBP70 million ("the Placing"), Avanti is pleased to confirm that all resolutions put to shareholders at its General Meeting held today were duly passed.

 

In compliance with the Transparency Directive's Transitional Provision 6, Avanti Communications Group plc would like to notify the market of the following:

 

Upon admission of the Ordinary Shares, Avanti Communications issued capital will comprise of 84,951,135 ordinary shares of 1 pence each. The trustees of the EBT hold 4,625,449 of these shares and have waived their voting rights. The remaining 80,325,686 shares carry voting rights.

 

Shareholders should use 80,325,686 as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, Avanti Communications under the FSA's Disclosure and Transparency Rules.

 

Enquiries to:

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

David Williams, CEO

 

Cenkos Securities plc (Nominated Adviser and Joint Broker) Tel: +44 (0) 20 7397 8900

Julian Morse/Max Hartley

 

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

Rupert Mitchell/Oliver Griffiths

 

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

Emma Kane/Paul Dulieu

 

About Avanti

 

¡ Avanti sells satellite broadband services to telecoms companies which use them to supply residential, enterprise and institutional users.

¡ Avanti's first satellite, called HYLAS 1 will launch in Q3 2010 and will be the first superfast broadband satellite launched in Europe.

¡ Avanti's second satellite called HYLAS 2 is fully funded and will 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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