22 Feb 2012 09:35
Date: 22nd February 2012
On behalf of: Avanti Communications Group plc ("Avanti" or "the Company")
For immediate release
Result of General Meeting
Avanti, the satellite operator, reports that, further to the announcement on 6th February 2012 detailing the conditional placing of a total of 26,785,714 ordinary shares of 1p each in the Company at a placing price of 280 pence raising £73.8 million, net of expenses, Avanti is pleased to confirm that all resolutions put to shareholders at its General Meeting held today were duly passed.
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For further information please contact:
Avanti Communications Group Plc Tel: +44 (0)20 7749 1600David Williams / Sean Watherston
Cenkos Securities plc Tel: +44 (0) 20 7397 8900Nicholas Wells (Nomad) / Julian Morse (Sales)
Jefferies International Limited Tel: +44 (0) 20 7029 8000Julian Smith / Thomas Rider
Redleaf Polhill Tel: +44 (0) 20 7566 6700Emma Kane / Paul Dulieu
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.
·; Avanti's third satellite HYLAS 3, to be launched in partnership with ESA in 2015, will provide further capacity in the EMEA region
·; 80% of Avanti's fleet capacity will address the Emerging telecommunications markets of Africa and the Middle East.