28 Jul 2010 09:25
Date: Wednesday 28 July 2010
On behalf of: Avanti Communications Group plc ("Avanti" or "the Company")
Avanti Communications Group plc
Result of General Meeting and Total Voting Rights
Further to the announcement on 12 July 2010 detailing the conditional placing of a total of 16,279,070 ordinary shares of 1p each in the Company ("Ordinary Shares") at a placing price of 430 pence raising GBP70 million ("the Placing"), Avanti is pleased to confirm that all resolutions put to shareholders at its General Meeting held today were duly passed.
In compliance with the Transparency Directive's Transitional Provision 6, Avanti Communications Group plc would like to notify the market of the following:
Upon admission of the Ordinary Shares, Avanti Communications issued capital will comprise of 84,951,135 ordinary shares of 1 pence each. The trustees of the EBT hold 4,625,449 of these shares and have waived their voting rights. The remaining 80,325,686 shares carry voting rights.
Shareholders should use 80,325,686 as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, Avanti Communications under the FSA's Disclosure and Transparency Rules.
Enquiries to:
Avanti Communications Group plc Tel: +44 (0) 20 7749 1600
David Williams, CEO
Cenkos Securities plc (Nominated Adviser and Joint Broker) Tel: +44 (0) 20 7397 8900
Julian Morse/Max Hartley
Jefferies International Limited (Joint Broker) Tel: +44 (0) 20 7029 8000
Rupert Mitchell/Oliver Griffiths
Readleaf Communications Ltd Tel: +44 (0) 20 7566 6700
Emma Kane/Paul Dulieu
About Avanti
¡ Avanti sells satellite broadband services to telecoms companies which use them to supply residential, enterprise and institutional users.
¡ Avanti's first satellite, called HYLAS 1 will launch in Q3 2010 and will be the first superfast broadband satellite launched in Europe.
¡ Avanti's second satellite called HYLAS 2 is fully funded and will launch in Q2 2012. It will extend Avanti's coverage to Africa and the Middle East.
¡ The market for 2Mb satellite broadband products in the markets served by Avanti is estimated at more than 100 million households.