Issue of Equity

RNS Number : 1855N

Fastjet PLC

04 September 2013

 



4 September 2013

fastjet plc

("fastjet" or the "Company")

Issue of Equity

fastjet (AIM:FJET) is pleased to announce that it has raised £3,000,000 via a draw down on its Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin"), a majority owned subsidiary of Henderson Global Investors Volantis Capital ("Henderson").

Under the terms of the EFF agreement the Company raised gross proceeds of £3,000,000 by way of the issue of 62,500,000 shares of 1p each to Darwin (the "EFF Shares"). The new EFF Shares have been issued and rank pari passu in all respects with existing ordinary shares of 1p each in fastjet.

Raising this equity has afforded the Company the opportunity to progress discussions with parties for longer term funding required for the further development of the fastjet business.

Application has been made to the London Stock Exchange for a total of 62,500,000 ordinary shares to be admitted to trading on AIM. It is expected that admission will become effective and that trading in the EFF Shares will commence on 9 September 2013 ("Admission").

Following Admission, the Company's enlarged issued share capital will comprise 383,867,257 ordinary shares with voting rights. This figure of 383,867,257 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

ENDS

For further information, please contact:

fastjet Plc                                 Tel: [phone]

Ed Winter

Angus Saunders

WH Ireland Ltd.                    Tel: [phone]

James Joyce

Nick Field

Darwin Strategic Ltd.             Tel [phone]

Anand Sambasivan

Jamie Vickers

Citigate Dewe Rogerson        Tel: [phone]

Toby Moore

Eleni Menikou

 

END

 

 

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