30-Jan-2013 4:21 PM

Fastjet: Issue of Equity to raise GBP500,000

fastjet announced (29-Jan-2013) it has raised GBP500,000 via a draw down on its Equity Financing Facility (EFF) with Darwin Strategic Limited a majority owned subsidiary of Henderson Global Investors Volantis Fund. Under the terms of the EFF agreement the company raised gross proceeds of GBP500,000 by way of the issue of 12.5 million ordinary shares of GBP0.01 each to Darwin (EFF Shares). The new EFF Shares have been issued at a gross price of GBP0.04 per share and rank pari passu in all respects with existing ordinary shares of GBP0.01 each in fastjet. 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 1.9 billion ordinary shares with voting rights. [more - original PR]