FJET.L Regulatory News (FJET)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

fastjet Plc("fastjet", the "Company" or the "Group")

29 September 2017

Result of Placing

fastjet, the low-cost African airline, is pleased to announce that, following the announcement earlier today regarding the launch of a proposed placing (the "Placing"), it has successfully placed 104,428,724 new ordinary shares (the "Placing Shares") at a price of 20 pence per share (the "Issue Price") raising gross proceeds of US$28.0m (£20.9m). In addition, as announced earlier today, the Company has entered into subscription agreements with Solenta Aviation Holdings Limited ("SAHL") in respect of which SAHL has agreed to subscribe for 60,634,329 new ordinary shares (the "Solenta Subscription Shares") at the Issue Price raising gross proceeds of US$16.2m (£12.1m) (the "Subscription"), subject to completion of the Placing. In aggregate, the Placing and Subscription have raised gross proceeds of US$44.2m.

Completion of the Placing and the Subscription is conditional, inter alia, on the approval of shareholders at a general meeting of the Company, expected to be on 18 October 2017, of the requisite resolutions and admission of the Placing Shares and Solenta Subscription Shares to trading on the AIM Market of the London Stock Exchange plc ("Admission"). A circular containing a notice of general meeting is expected to be posted to shareholders on 2 October 2017.

The Placing was conducted by way of an accelerated book-building process. Liberum Capital Limited ("Liberum") acted as sole bookrunner on the Placing.

The Issue Price represents a discount of approximately 6.98% to the closing price of 21.5 pence per Ordinary Share on 28 September 2017, being the last business day prior to the announcement of the Placing.

In addition, as announced earlier today, the Company has established an employee benefit trust (the "EBT") that will subscribe for 21,504,112 shares ("EBT Subscription Shares").

Application will be made for the Placing Shares, Solenta Subscription Shares and the EBT Subscription Shares, in aggregate 186,567,165 ordinary shares, to be admitted to trading on AIM, which is expected to occur at 8.00am on 19 October 2017.

M&G Investment Management Ltd, by virtue of it holding more than 10 per cent. of the existing issued share capital of the Company, is considered a related party of the Company and their participation in the Placing is therefore a related party transaction under the AIM Rules for Companies. The Directors consider, having consulted with the Company's Nominated Adviser, that the terms of the Placing are fair and reasonable in so far as its Shareholders are concerned.

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation (EU) No. 596/2014.

ENDS

For more information, contact:

 NOTES TO EDITORS

NOTES TO EDITORS

About Fastjet Plc

fastjet is a multi-award winning (including Skytrax World Airline Awards Best Low-Cost Airline in Africa 2017) low-cost African airline for everyone. It began flight operations in Tanzania in November 2012, flying passengers from Dar es Salaam to just two domestic destinations - Kilimanjaro and Mwanza. Today, fastjet's route network includes Tanzanian domestic routes from its Dar es Salaam base to Kilimanjaro, Mbeya, and Mwanza, and international routes from Tanzania to Lusaka in Zambia and Harare in Zimbabwe. fastjet also began flight operations from its Zimbabwe base in October 2015, and now flies domestically from Harare to Victoria Falls, Harare to Dar es Salaam and internationally from both Harare and Victoria Falls to Johannesburg in South Africa. The airline has flown over 2.5 million passengers with an impressive aggregate 94% on-time performance, establishing itself as a punctual, reliable, and affordable low-cost carrier.

IMPORTANT INFORMATION

This Announcement contains (or may contain) certain forward-looking statements with respect to certain of the Company's plans and its current goals and expectations relating to its future financial condition and performance and which involve a number of risks and uncertainties. The Company cautions readers that no forward-looking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as "aim", "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", or other words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, including, but not limited to, economic and business conditions, the effects of continued volatility in credit markets, market-related risks such as changes in the price of commodities or changes in interest rates and foreign exchange rates, the policies and actions of governmental and regulatory authorities, changes in legislation, the further development of standards and interpretations under International Financial Reporting Standards (IFRS) applicable to past, current and future periods, evolving practices with regard to the interpretation and application of standards under IFRS, the outcome of pending and future litigation or regulatory investigations, the success of future explorations, acquisitions and other strategic transactions and the impact of competition. A number of these factors are beyond the Company's control. As a result, the Company's actual future results may differ materially from the plans, goals, and expectations set forth in the Company's forward-looking statements. Any forward-looking statements made in this Announcement by or on behalf of the Company speak only as of the date they are made. Except as required by the Financial Conduct Authority (the FCA), the London Stock Exchange or applicable law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this Announcement to reflect any changes in the Company's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

This Announcement is for information purposes only and shall not constitute an offer to buy, sell, issue, or subscribe for, or the solicitation of an offer to buy, sell, issue, or subscribe for any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

This Announcement has been issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Liberum Capital Limited or by any of its affiliates or agents as to, or in relation to, the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

Liberum Capital Limited, which is authorised and regulated in the United Kingdom by the FCA, is acting for the Company and for no-one else in connection with the Placing, and will not be responsible to anyone other than the Company for providing the protections afforded to its customers or for providing advice to any other person in relation to the Placing or any other matter referred to herein.

The distribution of this Announcement and the offering of the Placing Shares in certain jurisdictions may be restricted by law. No action has been taken by the Company or Liberum Capital Limited that would permit an offering of such shares or possession or distribution of this Announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose possession this Announcement comes are required by the Company and Liberum Capital Limited to inform themselves about, and to observe such restrictions.

Persons (including, without limitation, nominees and trustees) who have a contractual or other legal obligation to forward a copy of the Appendix or this Announcement should seek appropriate advice before taking any action.

The Placing Shares to which this Announcement relates may be illiquid and / or subject to restrictions on their resale. Prospective purchasers of the Placing Shares should conduct their own due diligence on the Placing Shares. If you do not understand the contents of this Announcement you should consult an authorised financial adviser.

Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this Announcement.