Fastjet launches open share offer

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP April 16, 2014 20:42

Fastjet launches open share offer

Fastjet has announced an open offer of up to 245,834,991 new Ordinary Shares in the capital of the company.

In order to provide Qualifying Shareholders with an opportunity to participate in an issue of Ordinary Shares at the same price as the placing of new Ordinary Shares which raised gross proceeds of £11 million announced on 10 April 2014, Fastjet is making the Open Offer to permit all Qualifying Shareholders to subscribe at the Issue Price for an aggregate of up to 245,834,991 Ordinary Shares, to raise gross proceeds of up to a maximum of approximately £3.9 million.

The Issue Price of 1.6 pence per Ordinary Share represents a discount of approximately 7.2% to the closing middle market price of 1.725 pence on 15 April 2014.

Ed Winter, CEO and Interim Chairman of fastjet said: “The very successful completion of the fund-raising we announced last week was a highly significant step forward for fastjet.  The proceeds raised exceeded our expectations and allow us to confidently move to the next phase of the Company’s development with further international routes, additional aircraft and more bases and to fulfil our objective of becoming the leading pan-African low-cost airline.

“In response to the many recent comments that we have received from shareholders, I am now pleased to also offer pre-existing shareholders the opportunity to participate in the fund-raising through an Open Offer.  Although this Open Offer could raise up to a maximum total of approximately £3.9 million, its primary purpose is as a vehicle to give our pre-existing shareholders an opportunity to increase their stake in the Company and its development on the same terms as the institutional placing.”

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP April 16, 2014 20:42
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Ffinance%2Ffastjet-launches-open-share-offer%2F"> registered </a> users can comment.