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22nd January 2013
('fastjet' or the 'Company')
Issue of Equity to raise £500,000
fastjet (AIM:FJET) is pleased to announce that it has raised £500,000 via a draw down on its Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin"), a majority owned subsidiary of Henderson Global Investors Volantis Fund.
Under the terms of the EFF agreement the Company raised gross proceeds of £500,000by way of the issue of 12,500,000 new ordinary shares of 1p each to Darwin (the "EFF Shares"). The new EFF Shares have been issued at a gross price of 4p per share and rank pari passu in all respects with existing ordinary shares of 1p each in fastjet.
Application will be made to the London Stock Exchange for the 12,500,000 EFF Shares to be admitted to trading on AIM. It is expected that the admission will become effective and that trading in the new Shares will commence on 25th January 2013 ("Admission").
Funds will be used for general working capital and expansion of the fastjet network in Africa.
Following Admission, the Company's enlarged issued share capital will comprise of 1,888,111,005 ordinary shares with voting rights. This figure of 1,888,111,005 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 FSA'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 7938 5754
Citigate Dewe Rogerson Tel: +44 (0) 20 7638 9571
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