20 October 2017
Avanti Communications Group plc
(the “Company” or “Avanti”)
Avanti Communications Group plc (AIM: AVN) today announces that note holders holding in excess of 60% of the Company’s outstanding notes have confirmed that they will consent (under a consent solicitation to be launched today) to certain amendments to the indentures governing those notes (the “Indentures”). These amendments will permit the Company to furnish its annual report for the year ended June 30, 2017 and its quarterly earnings release for the quarter ended September 30, 2017 by no later than January 31, 2018. The consents will also permit the Company to make certain changes to the call protection for a future tranche of an incremental facility which will be made under its existing Super Senior Facility.
This announcement contains inside information
This announcement is for information purposes only and is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise. The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.
In particular, this announcement is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933. Any securities mentioned herein have not been and will not be registered under the United States Securities Act of 1933, and no public offering will be made in the United States.
For further information please contact:
Nick Miles / James Olley
|+44 (0)203 770 7909|
|44 (0)207 382 4763|
|Cenkos Securities plc|
Max Hartley (Nomad) / Julian Morse
|+44 (0) 20 7397 8900|
Notes to Editors
Avanti connects people wherever they are – in their homes, businesses, in government and on mobiles. Through the HYLAS satellite fleet and more than 180 partners in 118 countries, the network provides ubiquitous internet service to a quarter of the world’s population. Avanti delivers the level of quality and flexibility that the most demanding telecoms customers in the world seek.
Avanti is the first mover in high throughput satellite data communications in EMEA. It has rights to orbital slots and Ka-band spectrum in perpetuity that covers an end market of over 1.7bn people.
The Group has invested $1.2bn in a network that incorporates satellites, ground stations, datacentres and a fibre ring. Avanti has a unique Cloud based customer interface that is protected by patented technology.
Avanti is quoted in London on AIM (AVN:LSE).