Fastjet PLC FJET Completion of Placing

  Fastjet PLC (FJET) - Completion of Placing

RNS Number : 9616R
Fastjet PLC
26 November 2012




26 November 2012

                                 fastjet Plc

                         ('fastjet' or the 'Company')

                            Completion of Placing

fastjet (AIM:FJET)  is pleased  to  announce that,  further to  the  Company's 
announcement on 9 November 2012, the Company has completed a placing to  raise 
US$2.4m by way of the issue of 42,857,144 new ordinary shares of 1 pence  each 
("Placing Shares")  in the  share capital  of  the Company  at 3.5  pence  per 
Placing Share.

Accordingly, the Company has today issued 42,857,144 new ordinary shares of  1 
pence each  in the  Company, representing  approximately 2.43%  of the  issued 
share capital of the Company, as  enlarged by the Placing Shares. The  Placing 
Shares rank pari passu in all respects with the existing ordinary shares.

The total number of shares in issue following the issue of the Placing  Shares 
is 1,762,991,958 ordinary shares  with a nominal value  of 1 pence each,  with 
voting rights. The Company does not hold any ordinary shares in Treasury.

Following admission, the above figure of 1,762,991,958 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
change to  their interest  in, the  share  capital of  the Company  under  the 
Financial Services Authority's Disclosure and Transparency Rules.



ENDS

For further information please contact:

fastjet
Plc
Tel: +44 (0) 20 3651 6355

Ed Winter

David Lenigas

Richard Blakesley

Geoffrey White



Citigate Dewe
RogersonTel:
+44 (0) 20 7638 9571

Angharad Couch

Sally Marshak

Eleni Menikou



W.H. Ireland
Ltd.
Tel: +44 (0) 20 7220 1666

James Joyce

Nick Field



NOTES TO EDITORS

About fastjet Plc

fastjet Plc is the holding company for African airline Fly540, which operates
from four bases in Kenya, Tanzania, Ghana and Angola. Fly540 currently has 10
aircraft serving around 25 domestic and regional destinations, carrying
approximately 750,000 passengers per year with a strong emphasis on safety,
security and reliability.

Following  a   consultancy  assignment   by   easyJet  founder   Sir   Stelios 
Haji-Ioannou's easyGroup focused on determining the feasibility of launching a
European-style low-cost carrier in Africa, we are now preparing for the launch
of fastjet, Africa's  first low-cost  carrier, flying  a modern  fleet of  jet 
aircraft based on the Fly540 platform of licences and routes. The first flight
under the fastjet brand is scheduled for 29^th November, bringing an  entirely 
new flying experience to the African market.

fastjet Plc is  quoted on  the London Stock  Exchange's AIM  market. For  more 
information see www.fastjet.com

Significant African Aviation Market Potential

Africa is a growth aviation market with regional and intercontinental  traffic 
both growing  rapidly  as  a  result of  the  continent's  continued  economic 
expansion.  With  over  one  billion  people,  Africa  is  hampered  by  poor 
infrastructure, a lack of roads and railways and long distances between  urban 
populations. The African  aviation market is  significantly underserved  with 
air travel  spending as  a  percentage of  GDP a  fraction  of that  of  other 
emerging markets. With rapid  economic growth and, as  a result, the  growing 
wealth of African citizens, more and more people will be able to benefit  from 
aviation and fly for the first time. Airbus forecasts total passenger  traffic 
in Africa will grow at an average  yearly rate of 5.7% between 2010 and  2030, 
well above the 4.8 per cent  world average growth rateand expects to  deliver 
more than 1,100 new passenger aircraft, 4% of world deliveries, in the next 20
years to satisfy growing  demand. Seven of the  top 10 fastest growing  global 
economies are now in Africa with consumer spending for the continent  forecast 
to reach  US$1.6 trillion  by  2020. A  recent  McKinsey report  (June  2010) 
forecast  that  128  million  households  in  Africa  are  expected  to   have 
discretionary income to spend by 2020,  while 50% of Africans are expected  to 
live in cities by the same date  with urban jobs bringing rising incomes.  The 
McKinsey report concluded that today the rate of return on foreign  investment 
in Africa is higher than in any  other developing region and that early  entry 
into African  economies provides  opportunities to  create markets,  establish 
brands, shape industry structure, influence consumer preferences and establish
long-term relationships.



                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


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