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Regulatory Story
Company Avanti Communications Group Plc
TIDM AVN
Headline Result of GM and cancellation from trading on AIM
Released 15:01 05-Sep-2019
Number 4056L15

RNS Number : 4056L
Avanti Communications Group Plc
05 September 2019
 

5 September 2019

Avanti Communications Group plc

Result of General Meeting and cancellation from trading on AIM

Avanti Communications Group PLC (AIM: AVN) ("Avanti" or the "Company"), a leading provider of satellite data communications services in Europe, the Middle East and Africa announces that, at the General Meeting of the Company held earlier today, the Resolution proposed for the purposes of approving the Cancellation from admission to trading on AIM of Avanti's Ordinary Shares, was duly passed by the requisite majority.

 

The final results of the proxy appointments received by the Company were as follows:

 

Resolution

 

For

%

Against

%

Resolution 1 - Cancellation of admission to trading on AIM

1,507,789,263

91.96

131,791,802

8.04

 

The resolution is set out in full in the circular dated 20 August 2019 ("Circular"). Accordingly, as contemplated in the Company's announcement of 20 August 2019 and the Circular, the last day of dealings in Avanti's Ordinary Shares will be close of business on 17 September 2019, and at 7.00 a.m. on 18 September 2019 the admission to trading on AIM of Avanti's Ordinary Shares will be cancelled.   Following the Cancellation, Cenkos will cease to be nominated adviser and broker to the Company.

 

With effect from Cancellation, the Company will implement the Matched Bargain Facility provided by J P Jenkins to assist Shareholders to trade in the Ordinary Shares. Under the Matched Bargain Facility, Shareholders or persons wishing to acquire or dispose of Ordinary Shares will be able to leave an indication with J P Jenkins, through their stockbroker (J P Jenkins is unable to deal directly with members of the public), of the number of Ordinary Shares that they are prepared to buy or sell at an agreed price. 

 

In the event that J P Jenkins is able to match that order with an opposite sell or buy instruction, they would contact both parties and then effect the bargain.  With effect from Cancellation, further details on the Matched Bargain Facility will be made available to Shareholders on the Company's website at https://investor.avantiplc.com/ and directly by letter or e-mail (where appropriate).

 

Further details of the Cancellation are set out in the Circular. Terms defined in the Circular and the Company's announcement of 20 August 2019 apply throughout this announcement, unless the context requires otherwise. A copy of the Circular is available on the Company's website, https://investor.avantiplc.com/.

 

For further information, please contact:

Avanti Communications

 

 

Nigel Fox
Tel: +44 (0)20 7749 1600

 



Cenkos Securities (Nomad)

 

 

 

Katy Birkin, Max Hartley
Tel: +44 (0)20 7397 8900

 

 

Newgate Communications

Adam Lloyd

Tel: +44 (0)20 3757 9842 

 

 


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