15 Feb 2013 16:59
15 February 2013
fastjet plc
("fastjet" or the "Company")
Completion of Placing and Exercise of Warrants
Further to the Company's announcement on 11 February 2013, fastjet announces that the £3.5m placing of 155,555,556 new ordinary shares of 1 pence each ("Placing Shares") at a placing price of 2.25 pence has completed and application has been made for the Placing Shares to be admitted to trading on AIM with admission expected to take place on 19 February 2013. These shares will rank pari passu in all respects with existing ordinary shares in fastjet.
Each of these new Placing Shares will have one attaching warrant for every two allocated Placing Shares subscribed for, with each warrant entitling the holder to subscribe for one ordinary share in the Company at 5p per ordinary share with an exercise period of twelve months. The Company will therefore issue 77,777,778 warrants on these terms.
The Company further announces that it has received notice of exercise in respect of warrants previously issued on 27 April 2010 totalling 1,000,000 ordinary shares ("Warrant Shares"). Application has therefore been made for the Warrant Shares to be admitted to trading on AIM with admission expected to take place on 19 February 2013. These shares will rank pari passu in all respects with existing ordinary shares in fastjet.
Following admission of the Placing Shares and Warrant Shares, the Company's enlarged issued share capital will comprise 2,073,416,561 ordinary shares with voting rights. This figure of 2,073,416,561 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
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NOTES TO EDITORS
About fastjet plc
fastjet plc is quoted on the London Stock Exchange's AIM market. For more information see www.fastjet.com