Avanti Communications Group Plc Results of Open Offer (3165M)
April 27 2018 - 1:00AM
UK Regulatory
TIDMAVN
RNS Number : 3165M
Avanti Communications Group Plc
27 April 2018
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION
OR DISTRIBUTION WOULD BE UNLAWFUL.
27 April 2018
Avanti Communications Group plc
Results of Open Offer
Avanti Communications Group PLC (AIM: AVN), ("Avanti", the
"Company" and, together with its subsidiary undertakings, the
"Group") announces that the Open Offer launched on 9 April 2018 has
closed.
The Company can advise that valid acceptances have been received
from Qualifying Shareholders in respect of 1,522,932 Open Offer
Shares. The Company has therefore raised gross proceeds of
approximately GBP0.17 million through the Open Offer. Qualifying
Shareholders who have applied for Offer Shares will receive the
full number of Open Offer Shares applied for by them and those that
made an application under the Excess Application Facility will
receive 100 per cent of Excess Shares applied for by them.
Accordingly, application has been made for the admission of the
Open Offer Shares to trading on AIM ("Admission"), which is
expected to become effective and dealings commence at 8.00 a.m. on
30 April 2018. The Open Offer remains conditional upon
Admission.
Following Admission, the total number of Ordinary Shares in
issue with voting rights will be 2,163,335,585 Ordinary Shares and
Shareholders may use this figure 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, the share
capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.
Open Offer Shares (held in uncertificated form) are expected to
be credited to CREST accounts on 1 May 2018 and definitive share
certificates for the Open Offer Shares (held in certificated form)
are expected to be despatched to shareholders who hold their
Ordinary Shares in certificated form within 10 business days of 1
May 2018.
Capitalised terms used in this announcement shall have the same
meanings given to them in the Circular dated 9 April 2018.
For further information, please contact:
Avanti Communications Nigel Fox, Patrick Willcocks
Tel: +44 20 7749 1600
Montfort Nick Miles, James Olley
Tel: +44 203 770 7909
Cenkos Securities (Nomad) Max Hartley, Nicholas Wells, Harry
Hargreaves
Tel: +44 207 397 8900
Redleaf Communications Ralph Anderson
+44 (0)20 3757 6883
About Avanti
Avanti connects people wherever they are - in their homes,
businesses, in government and on mobiles. Through the HYLAS
satellite fleet and partners in 118 countries, the network provides
ubiquitous internet service to a quarter of the world's
population.
Avanti delivers the level of quality and flexibility that the
most demanding telecoms customers in the world seek. Avanti is the
first mover in high throughput satellite data communications in
EMEA. It has rights to orbital slots and KA-band spectrum in
perpetuity that covers an end market of over 1.7bn people. The
Group has invested $1.2bn in a network that incorporates
satellites, ground stations, datacentres and a fibre ring.
Avanti has a unique Cloud-based customer interface that is
protected by patented technology. Avanti Communications is listed
in London on AIM (AVN: LSE). www.avantiplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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