Fastjet raises half a million pounds via draw down facility

Low-cost airline fastjet has raised 500,000 pounds via a draw down on its Equity Financing Facility with Darwin Strategic Limited, a majority-owned subsidiary of Henderson Global Investors Volantis Fund.

Under the terms of the Equity Financing Facility agreement the company has raised gross proceeds of £500,000 by way of the issue of 12,500,000 new ordinary shares of one pence each to Darwin.

The new Equity Financing Facility shares have been issued at a gross price of four pence per share and rank pari passu in all respects with existing ordinary shares of one pence each in fastjet.

Application will be made to the London Stock Exchange for the 12,500,000 EFF Shares to be admitted to trading on AIM and is expected that the admission will become effective and that trading in the new shares will commence on January 25th 2013.

MF