Pan-African low-cost carrier Fastjet has drawn down a further £1.25 million ($2 million) from its equity financing facility with Darwin Strategic, the investment arm of Henderson Global.
The airline issued nearly 21 million 1p shares to Darwin at an issue price of 6p per share. These shares rank pari passu with existing 1p ordinary shares.
An application has been made for the 20,833,333 shares to be admitted to trading on the London Stock Exchange's Alternative Investment Market (AIM) on 10 October.
Following admission, Fastjet's issued share capital would comprise 404,700,590 ordinary shares with voting rights..
In the three months leading up to today's transaction, Fastjet drew down over £6 million from its Darwin Strategic facility, issuing 368.7 million shares in the process. It raised a combined £3.062 million by issuing 306.2 million 1p shares across three transactions disclosed on 9 and 31 July and 19 August. A deal dated 4 September raised £3 million from the issue of 62.5 million 1p shares.