Completion of Placing - 26 April 2013

RNS Number : 3935D

Fastjet PLC

26 April 2013

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26 April 2013

fastjet Plc

('fastjet' or the 'Company'

Completion of Placing

fastjet (AIM:FJET) is pleased to announce that, further to the Company's announcement of 24 April 2013, the Company has completed a placing to raise £2.0 million by way of the issue of 160,000,000 new ordinary shares of 1 pence each (the "Placing Shares") in the share capital of the Company at 1.25 pence per Placing Share.

Accordingly, the Company has made application for the Placing Shares to be admitted to trading on AIM ("Admission"), which is expected to take place on 29 April 2013.  Once issued the Placing Shares would represent approximately 7.0% of the issued share capital of the Company (as enlarged by the Placing Shares).  The Placing Shares rank pari passu in all respects with the existing ordinary shares.

The issued share capital of the Company following issue of the Placing Shares will be 2,277,416,561 ordinary shares of 1 pence each, with voting rights.  The Company does not hold any ordinary shares in Treasury.

Following Admission, the above figure of 2,277,416,561 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

- ENDS -

 

For further information please contact:

fastjet Plc                                                                                            Tel: +44 (0) 20 3651 6355

Ed Winter

David Lenigas

Geoffrey White

Citigate Dewe Rogerson                                                                     Tel: +44 (0) 20 7638 9571

Angharad Couch

Sally Marshak

Eleni Menikou

W.H. Ireland Ltd.                                                                                  Tel: +44 (0) 20 7220 1666

James Joyce

Nick Field

 

NOTES TO EDITORS

About fastjet plc

fastjet plc is the holding company for African airline Fly540, which operates in Tanzania, Kenya, Ghana and Angola. Flights under the fastjet brand commenced in Tanzania in November 2012. The airline has introduced Airbus A319s into its fleet and by adhering to international standards of safety, quality, security and reliability, fastjet has brought a new flying experience to the African market at unprecedented low prices. fastjet is implementing the low-cost model across Africa and its long-term strategy is to become the continent's first low-cost, pan-African airline.

In the year to March 2013, fastjet and its subsidiaries carried almost 800,000 passengers, 50% more than a year previously and 99.2 per cent of its flights left on time with no cancellations. The results of a recent customer satisfaction survey showed that 100% of customers were likely to recommend fastjet to a friend. In developing its strong brand and identity, fastjet has won and been nominated for a number of awards, including winning three Transform awards for the rebrand and launch of fastjet and a nomination for the prestigious Drum "New Product or Service launch" award.

fastjet plc is quoted on the London Stock Exchange's AIM market.

For more information see www.fastjet.com

Posted on 26th April 2013