Result of General Meeting

22 February, 2012 - 09:00

Avanti, the satellite operator, reports that, further to the announcement on 6th February 2012 detailing the conditional placing of a total of 26,785,714 ordinary shares of 1p each in the Company at a placing price of 280 pence raising £73.8 million, net of expenses, Avanti is pleased to confirm that all resolutions put to shareholders at its General Meeting held today were duly passed.

 

For further information please contact:

Avanti Communications Group Plc                           Tel: +44 (0)20 7749 1600
David Williams / Sean Watherston

Cenkos Securities plc                                              Tel: +44 (0) 20 7397 8900
Nicholas Wells (Nomad) / Julian Morse (Sales)

Jefferies International Limited                                Tel: +44 (0) 20 7029 8000
Julian Smith / Thomas Rider
 

Redleaf Polhill                                                          Tel: +44 (0) 20 7566 6700
Emma Kane / Paul Dulieu

 

About Avanti

  • Avanti sells satellite data communications services to telecoms companies which use them to supply residential, enterprise and institutional users.
  • Avanti's first satellite called HYLAS 1, launched on November 26th 2010 and is the first superfast broadband satellite launched in Europe.
  • Avanti's second satellite, called HYLAS 2, is on target for launch in Q2 2012. It will extend Avanti's coverage to Africa and the Middle East.
  • Avanti’s third satellite HYLAS 3, to be launched in partnership with ESA in 2015, will provide further capacity in the EMEA region
  • 80% of Avanti’s fleet capacity will address the Emerging telecommunications markets of Africa and the Middle East.