Fastjet PLC Result of Open Offer (9379V)

TIDMFJET

RNS Number : 9379V

Fastjet PLC

27 July 2018

fastjet Plc

("fastjet", the "Company" or the "Group")

27 July 2018

Result of Open Offer

fastjet, the low-cost African airline, announces the results of the recent Open Offer undertaken at a price of 8 pence per share, on the basis of one Open Offer Share for every 26 Existing Ordinary Shares.

The Open Offer closed for acceptances at 11:00 a.m. on 26 July 2018 and the Company announces that valid applications have been received from qualifying shareholders in respect of 2,824,504 new ordinary shares. fastjet has therefore raised GBP225,960.32 pursuant to the Open Offer. Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Open Offer application.

Application has been made for the 2,824,504 Open Offer Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00am on 30 July 2018.

Following the issue of the Open Offer Shares, the Company will have 620,652,894 ordinary shares of 1p each in issue and this figure 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. The Company does not hold any shares in treasury.

Capitalised terms used in this announcement shall have the meaning ascribed to them in the circular that was sent to shareholders on 4 July 2018 unless the context otherwise requires.

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation (EU) No. 596/2014.

ENDS

For more information, contact:

 
 fastjet Plc                              Tel: [phone] 
 Nico Bezuidenhout, Chief Executive 
  Officer 
  Michael Muller, Chief Financial 
  Officer 
                                          Tel: [phone] 
   UK media - Citigate Dewe Rogerson 
 Angharad Couch 
  Eleni Menikou 
 Toby Moore 
  Nick Hayns 
 
 South African media - Hein Kaiser        Tel: [phone] 
 
 For investor enquiries please contact: 
 Liberum Capital Limited - Nominated      Tel: [phone] 
  Adviser and Broker 
 Clayton Bush 
 Jill Li 
  Neil Elliot 
  Trystan Cullen 
 

NOTES TO EDITORS

About Fastjet Plc

fastjet is a multi-award winning low-cost African airline for everyone. It began flight operations in Tanzania in November 2012, flying passengers from Dar es Salaam to just two domestic destinations - Kilimanjaro and Mwanza. Today, fastjet's route network includes Tanzanian domestic routes from its Dar es Salaam base to Kilimanjaro, Mbeya, and Mwanza, and international routes from Tanzania to Lusaka in Zambia and Harare in Zimbabwe. fastjet also began flight operations from its Zimbabwe base in October 2015, and now flies domestically from Harare to Victoria Falls, Harare to Dar es Salaam and internationally from both Harare and Victoria Falls to Johannesburg in South Africa. fastjet launched flights in Mozambique in November 2017 through a brand license agreement with Solenta Aviation Mozambique and offers a 4-city network of services within the country. The airline has flown over 2.5 million passengers with an impressive aggregate 94% on-time performance, establishing itself as a punctual, reliable, and affordable low-cost carrier.

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July 27, 2018 02:00 ET (06:00 GMT)