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4 Jan 2012 07:00
Date: 4th January 2012
On behalf of: Avanti Communications Group plc ("Avanti" or "the Company")
Embargoed until: 0700hrs
Avanti Communications Group plc
Avanti signs contract with InSat GmbH
Avanti Communications Group Plc (AIM: AVN), the satellite operator, announces the sale of capacity on HYLAS 2 to InSat GmbH ("InSat") in a five year deal worth $7.3m.
David Williams, Chief Executive of Avanti, commented:
"I welcome InSat, a very well regarded service provider, to the HYLAS fleet. We are now just a few months away from the launch of HYLAS 2 and I am pleased to note the capacity is selling well. Several beams are already close to full saturation and others are fully optioned. The attractive demand growth characteristics in the Middle East and Africa in all segments combined with a benign macro-economic environment gives us great confidence that this satellite will sell out well within our five year target."
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For further information please contact:
Avanti Communications Group Plc Tel: +44 (0)20 7749 1600
David Williams / Sean Watherston
Cenkos Securities plc Tel: +44 (0) 20 7397 8900
Nicholas Wells (Nomad) / Julian Morse (Sales)
Jefferies International Limited Tel: +44 (0) 20 7029 8000
Julian Smith / Thomas Rider
Redleaf Polhill Tel: +44 (0) 20 7566 6700
Emma Kane / Paul Dulieu
Notes to Editors:
About Avanti
·; Avanti sells satellite data communications services to telecoms companies which use them to supply residential, enterprise and institutional users.
·; Avanti's first satellite called HYLAS 1, launched on November 26th 2010 and is the first superfast broadband satellite launched in Europe.
·; Avanti's second satellite, called HYLAS 2, is on target for launch in Q2 2012. It will extend Avanti's coverage to Africa and the Middle East.
About InSat
·; InSat GmbH was founded in 2000 and is located in Saarbrücken, Germany. InSat owns and operates its own satellite ground station and communications hub.
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