Fastjet draws from equity facility

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Fastjet has tapped its equity financing facility to raise £1 million ($1.66 million) in funding.

The African low-cost carrier says it issued 37.7 million new shares at 1p each to financing partner Darwin Strategic, the investment arm of Henderson Global.

The new shares rank pari passu, in all respects, with existing ordinary shares of 1p each in Fastjet.

Pending approval at a general meeting today, the shares will be available on the AIM – the small companies market at the London Stock Exchange – from 30 January.