12 Oct 2015 13:34
12 October 2015
Avanti Communications Group plc (AIM: AVN, "Avanti" or "the Company"), the satellite operator, announces that it has issued 2,000,000 new ordinary shares of 1p each ("New Ordinary Shares") in the Company to the trustee of the Company's Employee Benefit Trust, at a price of 1p per share. These New Ordinary Shares are being issued to facilitate the award of share options to employees across the Company.
Application has been made for the New Ordinary Shares to be admitted to trading on AIM and it is anticipated that admission will become effective on 16 October 2015. Following admission, the Company's issued share capital will consist of 147,396,350 ordinary shares of 1p each.
For further information please contact:
Avanti: Matthew Springett, +44 (0)207 749 6703
Cenkos Securities: Max Hartley (Nomad) / Julian Morse, +44 (0)207 397 8900
Montfort: Nick Miles / James Olley, +44 (0)203 770 7909
Redleaf: Hannah Nicolas, +44 (0)207 382 4734
About Avanti Communications
Avanti connects people wherever they are - in their homes, businesses, in government and on mobiles. Through the HYLAS satellite fleet and more than 150 partners in 118 countries, the network provides ubiquitous internet service to 27 per cent of the world's population. Avanti delivers the level of quality and flexibility that the most demanding telecoms customers in the world seek.
Avanti is the first mover in high throughput satellite data communications in EMEA. It has rights to orbital slots and Ka-band spectrum that cover an end market of over 1.5bn people. The Group has invested $1.2bn in a network that incorporates satellites, ground stations, datacentres and a fibre ring. Avanti has a unique Cloud based flexible customer interface that is protected by patented technology.
The Group has three satellites in orbit and a further two fully funded satellites under construction. Avanti Communications is listed in London on AIM (AVN:LSE).