27 January 2014
("fastjet" or the "Company")
Issue of Equity
Fastjet (AIM:FJET) is pleased to announce that it has raised £1,000,000 via a draw down on its Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin").
Under the terms of the EFF agreement the Company raised gross proceeds of £1,000,000 by way of the issue of 37,735,850 ordinary shares of 1 pence ("Shares") each to Darwin at a price of 2.65 pence per Share (the "EFF Shares"). The new EFF Shares have been issued and rank pari passu in all respects with existing ordinary shares of 1p each in fastjet.
Application has been made to the London Stock Exchange for a total of 37,735,850 ordinary shares to be admitted to trading on AIM. It is expected that admission will become effective and that trading in the EFF Shares will commence on 6 December 2013 ("Admission").
Following Admission, the Company's enlarged issued share capital will comprise 549,786,440 ordinary shares with voting rights. This figure of 549,786,440 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 FCA's Disclosure and Transparency Rules.
For further information, please contact:
fastjet Plc Tel: +44 (0) 20 3651 6355
W.H. Ireland Ltd. Tel: +44 (0) 20 7220 1666
Darwin Strategic Ltd. Tel +44 (0) 20 7491 6512
Citigate Dewe Rogerson Tel: +44 (0) 20 7638 9571
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.
fastjet plc is quoted on the London Stock Exchange's AIM market.
For more information see www.fastjet.com
Posted on 27th January 2014