12 Aug 2020 10:30
fastjet Plc
("fastjet", the "Company" or the "Group")
Result of General Meeting
Cancellation of Admission to Trading on AIM
Re-Registration as a private company
and
Share Reorganisation
12 August 2020
Result of General Meeting
fastjet, the low-cost African airline, announces that at its General Meeting, held at 10.00 a.m. today, both of the proposed Resolutions were passed.
The voting was as follows:
Resolution | For | Against | Abstain |
1. Cancellation of admission of the Ordinary Shares to trading on AIM, Share Reorganisation, amendment to the Current Articles and ongoing authority for the Directors to allot and issue new shares on a non-pre-emptive basis
|
2,697,982,752 votes
96.29% of those voting |
103,846,544 votes
3.71% of those voting |
156,866 votes
Less than 0.01% of those voting |
2. Re-registration of the Company as a private company under the Companies Act 2006 |
2,698,059,974 votes
96.30% of those voting
|
103,769,293 votes
3.70% of those voting |
156,895 votes
Less than 0.01% of those voting |
Cancellation of Admission to Trading on AIM
Following the passing of the Authorising Resolution at the General Meeting, pursuant to Rule 41 of the AIM Rules, the Company will now proceed with the cancellation of trading of its Ordinary Shares on AIM. The last day of dealings in Ordinary Shares will be Friday 21 August 2020 and, at 7:00 a.m. on Monday 24 August 2020, the admission to trading on AIM of the Ordinary Shares will be cancelled. Thereafter trading in the Ordinary Shares will be transferred to the Asset Match trading platform put in place by the Company - further details of which are set out in the Circular.
Share Reorganisation
At the Effective Time, being 6.00 p.m. today 12 August 2020, each Ordinary Share will be sub-divided into one new Ordinary Share of £0.0001 nominal value and one deferred share of £0.0099 nominal value. Following the Share Reorganisation, the Ordinary Shares are expected to be admitted to trading on AIM at 8.00 a.m. on Thursday 13 August 2020. The ISIN code for the Ordinary Shares will remain unchanged.
Re-Registration as a private company
Further to the passing of the Re-Registration Resolution at the General Meeting, the Company will also now apply to the Registrar of Companies for the Company to be re-registered as a private limited company. Re-registration as a private limited company is expected to occur by 15 September 2020.
Further details of the Cancellation, the Re-Registration and the Share Reorganisation have been set out in both the Circular and the announcement published by the Company on 24 July 2020.
Capitalised terms used but not defined in this announcement have the meaning given to them in the Circular. A copy of the Circular is available on the Company's website: www.fastjet.com.
fastjet plc | Tel: +27 (0) 10 070 5151 |
Mark Hurst, Group Interim Chief Executive Officer Kris Jaganah, Group Chief Financial Officer | |
Liberum Capital Limited Nominated Adviser and Broker | Tel: +44 (0) 20 3100 2222 |
Andrew Godber Clayton Bush James Greenwood William Hall | |
Citigate Dewe Rogerson Financial PR | Tel: +44 (0) 20 7638 9571 |
Angharad Couch Toby Moore Nick Hayns |
NOTES TO EDITORS
About fastjet
Fastjet is a multi-award-winning African value airline that began flight operations in 2012. Its awards include Leading African Low-Cost Carrier World Travel Awards 2016, 2017, 2018 and 2019, and Skytrax World Airline Awards Best Low-Cost Airline in Africa 2017.
Today, fastjet connects the three major cities in Zimbabwe by flying between Harare and Victoria Falls and Harare and Bulawayo. Internationally the airline offers flights from Harare and Bulawayo to Johannesburg in South Africa.
In October 2018, fastjet acquired an interest in FedAir, which provides unscheduled shuttle and charter services to the game lodges in the Southern Africa region.
Since commencing operations fastjet has flown over 3.5 million passengers and has established itself as a punctual, reliable, and affordable airline, with value-added services inclusive of free baggage allowance(s), airport lounge access, dedicated check-in and more according to the new fare attributes introduced across their network.