Avanti Communications Group Plc Seven-Year Capacity Lease Agreement (6307B)
24 September 2018 - 4:01PM
UK Regulatory
TIDMAVN
RNS Number : 6307B
Avanti Communications Group Plc
24 September 2018
Avanti Communications Group plc Signs Seven-Year
Capacity Lease Agreement worth US$ 84 million
London, 24 September, 2018
Avanti Communications Group plc (AVN.L, "Avanti", or "the
Company") has signed a seven-year wholesale capacity lease
agreement, worth US$ 84 million over the period, with a major
international satellite service provider. The Company will receive
US$ 12 million per annum in quarterly instalments for the duration
of the agreement once commenced. The agreement is expected to
commence in Q3 of the Company's next financial year ending 31
December 2019.
The capacity lease agreement for its HYLAS-fleet of satellites
will increase significantly the Company's usage and fill-rates.
Kyle Whitehill, CEO of Avanti, said: "This agreement is a major
vote of confidence in the Avanti network and offer. Since joining
Avanti my ambition has been to drive growth through increased usage
of the fleet and this deal does just that. I look forward to
continuing to realise that ambition, and the Company looks forward
to delivering the great service and support that we are known
for."
This announcement contains inside information.
For further information:
Avanti: Chris McLaughlin chris.mclaughlin@avantiplc.com +44 759 096 4695
Cenkos: Max Hartley, Harry Hargreaves
Redleaf: Ralph Anderson RA@redleaf.com
Montfort: James Olley jolley@montfort.london +447974 982302
Note to Editors:
About Avanti Communications:
Avanti connects people wherever they are - in their homes,
businesses, in government and on mobiles. Through the HYLAS
satellite fleet and partners in 118 countries, the network provides
ubiquitous internet service to a quarter of the world's population.
Avanti delivers the level of quality and flexibility that the most
demanding telecoms customers in the world seek. Avanti is the first
mover in high throughput satellite data communications in EMEA. It
has rights to orbital slots and Ka-band spectrum in perpetuity that
covers an end market of over 1.7bn people. The Group has invested
$1.2bn in a network that incorporates satellites, ground stations,
datacentres and a fibre ring. Avanti has a unique Cloud-based
customer interface that is protected by patented technology. Avanti
Communications is listed in London on AIM (AVN: LSE).
www.avantiplc.com
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END
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