Loan Extension

RNS Number : 9242T

Fastjet PLC

25 March 2019

 

25 March 2019

fastjet Plc

("fastjet" or the "Company" or the "Group")

Loan Extension

The Company today announces that it has further extended the terms of its unsecured loan agreements with Annunaki Investments (Private Limited) ("Annunaki") and SSCG Africa Holdings ("SSCG") (the "Loan Agreements"). 

As announced by the Company on 5 June 2018, the Company entered into the Loan Agreements with Annunaki and SSCG in order to make available a portion of the Group's restricted cash held in Zimbabwe.  Further to this, as announced on 1 March 2019, the Company agreed with Annunaki and SSCG to extend the repayment date to 31 March 2019 and today announces that the parties have agreed that the terms of the Unsecured Loans be extended to 30 June 2019. The other terms of the Loan Agreements will remain the same.

This announcement is released by fastjet and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. This announcement is being made on behalf of the Company by Michael Muller, Chief Financial Officer of fastjet.

For more information, contact:

fastjet Plc	Tel: [phone]
Nico Bezuidenhout, Chief Executive Officer Michael Muller, Chief Financial Officer
Liberum Capital Limited - Nominated Adviser and Broker	Tel: [phone]
Clayton Bush Andrew Godber James Greenwood Trystan Cullen
UK media - Citigate Dewe Rogerson	Tel: [phone]
Angharad Couch Eleni Menikou Toby Moore Nick Hayns

NOTES TO EDITORS

About fastjet Plc

fastjet is a multi-award winning (including Skytrax World Airline Awards Best Low-Cost Airline in Africa 2017 and Leading African Low-Cost Carrier, World Travel Awards 2016, 2017 and 2018) African value airline for everyone that began flight operations in Tanzania in November 2012, flying passengers from Dar es Salaam to just two domestic destinations - Kilimanjaro and Mwanza.

Today, fastjet's route network includes flights from Harare to Bulawayo, Harare to Victoria Falls and from Harare and Victoria Falls to Johannesburg in South Africa. fastjet began branded domestic flights in Mozambique (Operated by Solenta Aviation Mozambique) in November 2017, its network presently between Maputo and Beira, Quelimane and Tete. The airline has flown over 3.5 million passengers with an impressive on-time performance aggregate, establishing itself as a punctual, reliable, and affordable carrier.

 

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