Avanti Communications Group Plc Result of GM and cancellation from trading on AIM (4056L)

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RNS Number : 4056L

Avanti Communications Group Plc

05 September 2019

5 September 2019

Avanti Communications Group plc

Result of General Meeting and cancellation from trading on AIM

Avanti Communications Group PLC (AIM: AVN) ("Avanti" or the "Company"), a leading provider of satellite data communications services in Europe, the Middle East and Africa announces that, at the General Meeting of the Company held earlier today, the Resolution proposed for the purposes of approving the Cancellation from admission to trading on AIM of Avanti's Ordinary Shares, was duly passed by the requisite majority.

The final results of the proxy appointments received by the Company were as follows:

 
 Resolution                          For          %       Against      % 
 Resolution 1 - Cancellation 
  of admission to trading 
  on AIM                        1,507,789,263   91.96   131,791,802   8.04 
 

The resolution is set out in full in the circular dated 20 August 2019 ("Circular"). Accordingly, as contemplated in the Company's announcement of 20 August 2019 and the Circular, the last day of dealings in Avanti's Ordinary Shares will be close of business on 17 September 2019, and at 7.00 a.m. on 18 September 2019 the admission to trading on AIM of Avanti's Ordinary Shares will be cancelled. Following the Cancellation, Cenkos will cease to be nominated adviser and broker to the Company.

With effect from Cancellation, the Company will implement the Matched Bargain Facility provided by J P Jenkins to assist Shareholders to trade in the Ordinary Shares. Under the Matched Bargain Facility, Shareholders or persons wishing to acquire or dispose of Ordinary Shares will be able to leave an indication with J P Jenkins, through their stockbroker (J P Jenkins is unable to deal directly with members of the public), of the number of Ordinary Shares that they are prepared to buy or sell at an agreed price.

In the event that J P Jenkins is able to match that order with an opposite sell or buy instruction, they would contact both parties and then effect the bargain. With effect from Cancellation, further details on the Matched Bargain Facility will be made available to Shareholders on the Company's website at https://investor.avantiplc.com/ and directly by letter or e-mail (where appropriate).

Further details of the Cancellation are set out in the Circular. Terms defined in the Circular and the Company's announcement of 20 August 2019 apply throughout this announcement, unless the context requires otherwise. A copy of the Circular is available on the Company's website, https://investor.avantiplc.com/.

For further information, please contact:

 
Avanti Communications      Nigel Fox 
                            Tel: [phone] 
 
Cenkos Securities (Nomad)  Katy Birkin, Max Hartley 
                            Tel: [phone] 
Newgate Communications     Adam Lloyd 
                            Tel: [phone] 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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September 05, 2019 10:01 ET (14:01 GMT)