Result of Placing

RNS Number : 9133E

Fastjet PLC

21 July 2016

 

THIS ANNOUNCEMENT, INCLUDING THE APPENDIX, AND THE INFORMATION CONTAINED HEREIN, IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

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

21 July 2016

Result of Placing

fastjet, the low-cost African airline, is pleased to announce that, following the announcement earlier today regarding the launch of a proposed placing (the "Placing"), it has successfully placed 30,000,000 new ordinary shares (the "Placing Shares") at a price of 50 pence per share (the "Issue Price") raising gross proceeds of £15 million.

 The Placing was conducted by way of an accelerated book-building process. Liberum Capital Limited ("Liberum") acted as sole bookrunner on the Placing.

The Issue Price represents a premium of approximately 116 per cent to the closing price of 23.13 pence per Ordinary Share on 20 July 2016, being the last business day prior to the announcement of the Placing. The Placing is conditional, inter alia, on the approval of shareholders in a general meeting of the Company, expected to be on Monday 8 August and admission of the Placing Shares to trading on the AIM market of the London Stock Exchange plc.

 

Colin Child, Executive Chairman, has agreed to subscribe for 140,000 new ordinary shares at the Issue Price as part of the Placing.  Following the Placing Mr Child's holding of 140,000 new ordinary shares will represent 0.13 per cent. of the enlarged issued share capital, assuming full take up of the Open Offer.

 

Application will be made for the Placing Shares to be admitted to trading on AIM, which is expected to occur on or around 9 August.

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

Unless otherwise defined herein, terms are as defined in the announcement made earlier today.

ENDS

For more information, contact:

fastjet Plc	Tel: [phone]
Colin Child, Executive Chairman
Lisa Mitchell, Chief Financial Officer
UK media - Citigate Dewe Rogerson	Tel: [phone]
Toby Moore
Eleni Menikou
Nick Hayns
South African media - Tribeca Public Relations	Tel: [phone]
Cian Mac Eochaidh
Kelly Webster
For investor enquiries please contact:

Liberum Capital Limited - Nominated Adviser and Joint Broker	Tel: [phone]
Clayton Bush
Christopher Britton Jill Li
W.H. Ireland Ltd.- Joint Broker	Tel: [phone]
James Joyce

NOTES TO EDITORS

About fastjet Plc

fastjet Plc is the holding company of the low cost airline fastjet which commenced flights under the fastjet brand in Tanzania in November 2012. fastjet Zimbabwe was successfully launched in October 2015. By adhering to international standards of safety, quality, security and reliability; fastjet has brought a new flying experience to the African market at unprecedented low prices. Utilising its fleet of Airbus A319s, fastjet is implementing the low-cost model across Africa and its long-term strategy is to become the continent's first low-cost, pan-African airline.

The results of a customer satisfaction survey showed that 100% of customers were likely to recommend fastjet to a friend. In developing its strong brand and identity, fastjet has won and been nominated for a number of awards, including winning three Transform awards for the rebrand and launch of fastjet, the award for "Brand Strategy of the Year" at 2014's Drum Marketing Awards in London, and the Transport Innovator Award at the 8th Transport Africa Awards 2015 in Johannesburg.

fastjet Plc is quoted on the London Stock Exchange's AIM Market.

For more information see www.fastjet.com

 

END

 

 

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