Result of General Meeting

RNS Number : 9249V

Fastjet PLC

12 August 2020

 

fastjet Plc

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

Result of General Meeting

Cancellation of Admission to Trading on AIM

Re-Registration as a private company

and

Share Reorganisation

12 August 2020

Result of General Meeting

fastjet, the low-cost African airline, announces that at its General Meeting, held at 10.00 a.m. today, both of the proposed Resolutions were passed.

The voting was as follows:

Resolution	For	Against	Abstain
1. Cancellation of admission of the Ordinary Shares to trading on AIM, Share Reorganisation, amendment to the Current Articles and ongoing authority for the Directors to allot and issue new shares on a non-pre-emptive basis	2,697,982,752 votes 96.29% of those voting	103,846,544 votes 3.71% of those voting	156,866 votes Less than 0.01% of those voting
2. Re-registration of the Company as a private company under the Companies Act 2006	2,698,059,974 votes 96.30% of those voting	103,769,293 votes 3.70% of those voting	156,895 votes Less than 0.01% of those voting

Cancellation of Admission to Trading on AIM

Following the passing of the Authorising Resolution at the General Meeting, pursuant to Rule 41 of the AIM Rules, the Company will now proceed with the cancellation of trading of its Ordinary Shares on AIM. The last day of dealings in Ordinary Shares will be Friday 21 August 2020 and, at 7:00 a.m. on Monday 24 August 2020, the admission to trading on AIM of the Ordinary Shares will be cancelled. Thereafter trading in the Ordinary Shares will be transferred to the Asset Match trading platform put in place by the Company - further details of which are set out in the Circular.

Share Reorganisation

At the Effective Time, being 6.00 p.m. today 12 August 2020, each Ordinary Share will be sub-divided into one new Ordinary Share of £0.0001 nominal value and one deferred share of £0.0099 nominal value. Following the Share Reorganisation, the Ordinary Shares are expected to be admitted to trading on AIM at 8.00 a.m. on Thursday 13 August 2020. The ISIN code for the Ordinary Shares will remain unchanged.

Re-Registration as a private company

Further to the passing of the Re-Registration Resolution at the General Meeting, the Company will also now apply to the Registrar of Companies for the Company to be re-registered as a private limited company. Re-registration as a private limited company is expected to occur by 15 September 2020.

Further details of the Cancellation, the Re-Registration and the Share Reorganisation have been set out in both the Circular and the announcement published by the Company on 24 July 2020. 

Capitalised terms used but not defined in this announcement have the meaning given to them in the Circular. A copy of the Circular is available on the Company's website: www.fastjet.com .

fastjet plc	Tel: [phone]
Mark Hurst, Group Interim Chief Executive Officer Kris Jaganah, Group Chief Financial Officer
Liberum Capital Limited Nominated Adviser and Broker	Tel: [phone]
Andrew Godber Clayton Bush James Greenwood William Hall
Citigate Dewe Rogerson Financial PR	Tel: [phone]
Angharad Couch Toby Moore Nick Hayns

NOTES TO EDITORS

About fastjet

Fastjet is a multi-award-winning African value airline that began flight operations in 2012. Its awards include Leading African Low-Cost Carrier World Travel Awards 2016, 2017, 2018 and 2019, and Skytrax World Airline Awards Best Low-Cost Airline in Africa 2017.

Today, fastjet connects the three major cities in Zimbabwe by flying between Harare and Victoria Falls and Harare and Bulawayo. Internationally the airline offers flights from Harare and Bulawayo to Johannesburg in South Africa.

In October 2018, fastjet acquired an interest in FedAir, which provides unscheduled shuttle and charter services to the game lodges in the Southern Africa region.

Since commencing operations fastjet has flown over 3.5 million passengers and has established itself as a punctual, reliable, and affordable airline, with value-added services inclusive of free baggage allowance(s), airport lounge access, dedicated check-in and more according to the new fare attributes introduced across their network.

 

END

 

 

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