Completion of Placing and Exercise of Warrants - 15 February 2013

fastjet plc

("fastjet" or the "Company")

Completion of Placing and Exercise of Warrants

Further to the Company's announcement on 11 February 2013, fastjet announces that the £3.5m placing of 155,555,556 new ordinary shares of 1 pence each ("Placing Shares") at a placing price of 2.25 pence has completed and application has been made for the Placing Shares to be admitted to trading on AIM with admission expected to take place on 19 February 2013. These shares will rank pari passu in all respects with existing ordinary shares in fastjet.  

 

Each of these new Placing Shares will have one attaching warrant for every two allocated Placing Shares subscribed for, with each warrant entitling the holder to subscribe for one ordinary share in the Company at 5p per ordinary share with an exercise period of twelve months. The Company will therefore issue 77,777,778 warrants on these terms.

 

The Company further announces that it has received notice of exercise in respect of warrants previously issued on 27 April 2010 totalling 1,000,000 ordinary shares ("Warrant Shares"). Application has therefore been made for the Warrant Shares to be admitted to trading on AIM with admission expected to take place on 19 February 2013. These shares will rank pari passu in all respects with existing ordinary shares in fastjet.  

 

Following admission of the Placing Shares and Warrant Shares, the Company's enlarged issued share capital will comprise 2,073,416,561 ordinary shares with voting rights. This figure of 2,073,416,561 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 a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

 

For media enquiries please contact:

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

Angharad Couch

Patrick Donovan

Chris Barrie

Eleni Menikou

 

Africa Media - Africa Practice                                                                     Tel: +254 (0) 20 239 6899

Natalie Maule

Anna Riley

Joan Kiambati

Meg Muigai

Evelyn Njoroge

                                               

For investor enquiries please contact:

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

James Joyce

Nick Field

 

NOTES TO EDITORS

About fastjet plc

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

For more information see www.fastjet.com

 

 

 


This information is provided by RNS

The company news service from the London Stock Exchange

Posted on 15th February 2013