Directors Exercise Share Options – 19th April 2013
Avanti Communications Group plc (AIM: AVN, “Avanti” or “the Group”), the satellite operator, was informed on 16 April 2013, by John Brackenbury CBE, Chairman and Alan Foster, non-executive director, that on the same day they had exercised 15,715 and 3,750 share options respectively at 1p per ordinary share under the long term scheme established in 2006, prior to Avanti’s listing. These are the last share options awarded to non-executive directors to be exercised under this scheme.
John Brackenbury now holds a total direct and indirect voting right interest in 435,791 ordinary shares in the Company, being approximately 0.39% of the issued ordinary share capital of the Company. Alan Foster now holds a total direct and indirect voting right interest in 396,250 ordinary shares in the Company, being approximately 0.35% of the issued ordinary share capital of the Company.
- Avanti sells satellite data communications services to telecoms companies which use them to supply residential, enterprise and institutional users.
- Avanti’s first satellite called HYLAS 1, launched on November 26th 2010 and was the first superfast broadband satellite launched for Europe.
- Avanti’s second satellite, called HYLAS 2, launched on August 2nd 2012. It extended Avanti’s coverage to Africa, the Caucasus and the Middle East.
- Avanti’s third satellite HYLAS 3, to be launched in partnership with ESA in 2015, will provide further capacity in the EMEA region.
- 83% of Avanti’s fleet capacity address the high growth telecommunications markets of Africa, the Caucasus and the Middle East.