("fastjet" or the "Company")
Fastjet terminates Convertible Securities Funding Arrangements
The Company announces that it has terminated the convertible securities deed with Bergen Global Opportunity Fund, LP ("Bergen") signed 7 March 2013 (the "Convertible Securities Deed") having issued no further securities under the Convertible Securities Deed beyond the initial nominal amount of £2,556,750 announced on 8 March 2013.
David Lenigas, Chairman of the Company said:
"The fastjet board have, after a careful review, decided that the funding provided by the Convertible Securities arrangements does not represent best value for the Company, because primarily of its potential impact on the Company's share price. The Board believes other sources of finance available to the company to be in the better interests of the Company and its shareholders and has accordingly terminated the Convertible Securities Deed."
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Posted on 10th June 2013