23 Feb 2015 15:22
Avanti Communications Group plc
Result of General Meeting
Avanti Communications Group plc ("the Company"), a leading provider of satellite data communications services in Europe, the Middle East and Africa, announces that all of the resolutions put to Shareholders at the General Meeting of the Company held earlier today were duly passed.
The resolutions grant the Directors authority to allot the New Ordinary Shares and to disapply statutory pre-emption rights which would otherwise apply to the allotment of the New Ordinary Shares issued pursuant to the £60.6 million Capital Raising announced on 5 February 2015. Admission of the New Ordinary Shares is now expected to occur at 8.00 a.m. on 25 February 2015 and following Admission, all conditions relating to the Capital Raising will have been satisfied.
Definitions used in this announcement have the same meaning as those used in the circular which will be posted to Shareholders today and will be available on the Company's website www.avantiplc.com.
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For further information please contact:
Avanti: Matthew Springett, +44 (0)20 7749 6709
Tulchan Group: James Macey White, +44 (0)20 7353 4200
Redleaf: Hannah Nicolas, +44 (0)20 7382 4734
Cenkos Securities: Max Hartley (Nomad) / Julian Morse, +44 (0)20 7397 8900
Legal Notice
Cenkos Securities plc ("Cenkos"), which is authorised and regulated in the United Kingdom by the FCA, is acting for the Company as Nominated Adviser and Broker for the purposes of the AIM Rules in connection with the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to customers of Cenkos or for providing advice in relation to the Placing and the other arrangements described in this announcement.
The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.
This announcement is not an invitation nor is it intended to be an inducement to engage in investment activity for the purpose of section 21 of FSMA. The Placing Shares are in any event being placed only with (i) persons who have professional experience in matters relating to investments and who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 of the United Kingdom (the "Financial Promotion Order") or (ii) persons who fall within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Financial Promotion Order (all such persons together being referred to as "relevant persons"). Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons. Anyone other than a relevant person must not rely on this announcement.
The Placing Shares have not been, and nor will they be, registered under the United States Securities Act of 1933 as amended (the "Securities Act") or qualified for sale under the laws of any state of the United States or under the applicable laws of any of Canada, Australia, the Republic of South Africa or Japan and, subject to certain exceptions, may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such term is defined in Regulation S under the Securities Act) or to any national or resident of Canada, Australia, the Republic of South Africa or Japan.
Definitions used in this announcement have the same meaning as those used in the circular posted to shareholders today which can be found on the Company's website www.avantiplc.com.