Three directors exercise options to increase shareholding

London – 15 May 2012

Avanti Communications Group plc (AIM: AVN, “Avanti” or “the Company”), the satellite operator, was informed on 15 May 2012 of the following exercise of options under the scheme established in 2006, prior to Avanti’s listing.

John Brackenbury, Chairman, exercised on the same day 15,716 share options at 1p per ordinary share. John Brackenbury now holds a total direct and indirect voting right interest in 415,076 ordinary shares in the Company, being approximately 0.37% of the issued ordinary share capital of the Company.

Alan Foster, non-executive Director, exercised on the same day 3,750 share options at 1p per ordinary share.  Alan Foster now holds a total direct and indirect voting right interest in 392,500 ordinary shares in the Company, being approximately 0.35% of the issued ordinary share capital of the Company. Richard Vos, non-executive Director, exercised on the same day 3,750 share options at 1p per ordinary share.  Richard Vos now holds a total direct and indirect voting right interest in 21,030 ordinary shares in the Company, being approximately 0.02% of the issued ordinary share capital of the Company. It is the intention of these Directors to hold all of these shares.  

 

About Avanti

  • 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 is the first superfast broadband satellite launched in Europe.
  • Avanti's second satellite, called HYLAS 2, is on target for launch in July 2012. It will extend Avanti's coverage to Africa, Caucasia and the Middle East.
  • Avanti’s third satellite HYLAS 3, to be launched in partnership with ESA, will provide further capacity in the EMEA region 80% of Avanti’s fleet capacity will address the high growth telecommunications markets of Africa, the Caucasus and the Middle East.
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