fastjet issues new equity
FASTJET IS pleased to announce that it has raised £1,612,000 via a draw down on its Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin"), a majority owned subsidiary of Henderson Global Investors Volantis Capital ("Henderson").
Under the terms of the EFF agreement the company raised gross proceeds of £1,612,000 by way of the issue of 161,200,000 shares of 1p each to Darwin (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 16,120,000 ordinary shares of 1p each to be admitted to trading on AIM based on the proposed consolidation and sub division of share capital being approved at the Extraordinary General Meeting today. It is expected that the admission will become effective and that trading in the new shares will commence on 22 August, 2013 ("Admission").
fastjet is also pleased to announce that the resolutions put to shareholders at the company’s general meeting held earlier today were duly passed. The reorganisation of share capital will therefore become effective. Application has been made for the New Ordinary Shares to be admitted to trading on AIM. Dealing in the New Ordinary Shares is expected to commence at 8.00am on Tuesday, 20 August, 2013.
The General Meeting was convened pursuant to the notice of general meeting and proposed reorganisation of share capital (the “Circular”) posted to shareholders on 2 August, 2013, which is available from the company’s website, www.fastjet.com.