INC.L Regulatory News (INC)

13 Apr 2007 13:36

AIM13 April 2007 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES") COMPANY NAME: Avanti Communications Group plc COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) : Avanti Communications Group plc 74 Rivington Street, London EC2A 3AY COUNTRY OF INCORPORATION: United Kingdom COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26: www.avanti-communications.com COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITSINVESTING STRATEGY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BESTATED: Avanti Communications Group currently provides satellite telecommunications services in Europe using leasedsatellite capacity. The Communications Group has authorisation to use 3.6 GHz of spectrum of Ku and Ka band atthe orbital position of 33.5degrees W. In December 2008 it expects to take delivery for launch of HYLAS. HYLASuses unique technologies to provide highly flexible and cost effective satellite capacity. As satellite spectrumis finite and market demand is high, the directors of the Communications Group expect that factors will providesignificant advantages in their efforts to build a large and valuable business. In the future, the CommunicationsGroup intends to sell HYLAS capacity to telecommunications and media network operators. DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. whereknown, number and type of shares, nominal value and issue price to which it seeks admission and the number andtype to be held as treasury shares): 25,708,503 Ordinary shares of 1 pence each CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION: No capital to be raised £50M to £60m market capitalisation PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: 35.76% DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THECOMPANY) ARE OR WILL BE ADMITTED OR TRADED: n/a FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is knownor including any other name by which each is known): Directors David John Williams (Chief Executive Officer) David James Bestwick (Chief Technical Officer) Proposed Directors Frederick Edwin John Gedge Brackenbury (Non-executive Chairman Designate) Michael John Desmond (Non-executive director) Charles Richard Vos (Non-executive director) David Alan Foster (Non-executive director) William Penfold Wyatt (Non-executive director)FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFOREAND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which eachis known):Shareholders will be unchanged by admission Caledonia Investments 23.97 Hermes Pensions Mgt 7.02 Kaupthing Bank Luxembourg 6.90 North Atlantic Value LLP (JO Hambro CM) 6.84 David John Williams 5.57 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES: None (i) ANTICIPATED ACCOUNTING REFERENCE DATE (ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19: (i) 30 June (ii) 31 December 2006 (iii) Annual audited accounts for the year to 30 June 2007 - by 31 December 2007 half-yearly report to 31 December 2007 - 31 March 2008 Annual audited accounts for the year to 30 June 2008 - by 31 December 2008 EXPECTED ADMISSION DATE: 16 April 2007 NAME AND ADDRESS OF NOMINATED ADVISER: Hoare Govett Limited 250 Bishopsgate London EC2M 4AANAME AND ADDRESS OF BROKER:Hoare Govett Limited 250 Bishopsgate London EC2M 4AA OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSIONDOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THEADMISSION OF ITS SECURITIES: Hoare Govett Limited 250 Bishopsgate London EC2M 4AA The Admission Document contains full details about the applicant the admission of its securities. DATE OF NOTIFICATION: 13 APRIL 2007 NEW/ UPDATE: UPDATE This information is provided by RNS The company news service from the London Stock Exchange