With ambitious plans to create Africa’s first pan-continental airline, fastjet will bring
international standards of safety, quality, security and reliability.

Low-cost is quite simply the avoidance of costly frills, offering customers the lowest possible
fares in addition to pay-as-you travel extras. This affords passengers the flexibility to pay for
additional services such as a bag or refreshment rather than having to pay for it regardless
whether you want it or not.

Importantly fastjet low-cost definitely does not mean low quality. Despite the many challenges
that exist outside our control we will be open, honest, transparent and communicative to
ensure that your travel arrangements remain with the least amount of interruption.

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Sir Stelios Haji-Ioannou, the founder of EasyJet, is set to launch a low-cost airline in Africa this year after taking a 5% stake in a new venture FASTJET PLC.

The easyGroup tycoon, who is embroiled in a long-running boardroom battle with easyJet, is backing a carrier that will operate under his Fastjet airline and be run by former easyJet executives.

Fastjet will operate from Kenya, Tanzania, Ghana and Angola. The ambition is to carry more than 12 million passengers a year, from the 500,000 at present, by cashing in on demand for regional travel from a burgeoning African middle-class.

Haji-Ioannou said the move would help bring low-cost air travel to more Africans. "This is another small but significant step in bringing the dream of low-cost air travel to millions of people in Africa – the aviation industry's last frontier. Past experience shows that by halving fares, a successful low-cost carrier can encourage those people, who have never previously travelled by air, to fly."

As sure as days follows night....

Up 780%. I knew I should have bought some....!!!!!! ;o)

"Result of General Meeting & Capital Reorganisation

fastjet (AIM:FJET) is pleased to announce that the resolutions put to shareholders at the Company's General Meeting held earlier today were duly passed.

Capital Reorganisation

The reorganisation of share capital will therefore become effective. Application has been made for the New Ordinary Shares to be admitted to trading on AIM. Dealing in the New Ordinary Shares is expected to commence on 8:00 a.m. on Tuesday 20 August 2013."

Proposed reorganisation
Although the mid-market price of Ordinary Shares as at the close of business on 2 August 2013 was 1.28p, the Ordinary Shares have in recent months frequently been trading on AIM at a price below their nominal value of 1p per share. The issue of new shares by a UK company at a price below their nominal value is prohibited by UK company law and accordingly the ability of the Company to raise funds by way of the issue of further equity has been inhibited.

The Company needs to raise funds in the near future in order to drive its medium and longer-term expansion, as well as for its short-term working capital. It is essential that the Company has the ability to raise additional funds to continue its on-going business.

As stated in the Company's 2012 Report and Accounts, fastjet is looking at different ways to restructure legacy Fly 540 loss-making parts of its business. An announcement will be made in due course, once those plans have been finalised.

Accordingly the Directors are seeking Shareholders' authority to implement the Reorganisation to create a differential between the nominal value of the Ordinary Shares and their market price to facilitate future share issues.

In addition the share price levels at which the Ordinary Shares have recently traded means that small absolute movements in the share price represent large percentage movements, resulting in share price volatility. In addition, the Directors believe that the bid offer spread at these price levels can be disproportionate, to the detriment of Shareholders. Accordingly the Reorganisation will also have the effect of a consolidation of the Ordinary Shares on a one for ten basis.

Details of the proposed Reorganisation and the proposed amendments to the Articles are set out below.

Share Capital Reorganisation
As at 1 August 2013, being the latest practicable date prior to the publication of this document, the total issued share capital of the Company was £29,864,725.70 divided into 2,986,472,570 Existing Ordinary Shares. As announced by the Company on 31 July 2013 application has been made to the London Stock Exchange for a total of 66,000,000 Ordinary Shares to be admitted to trading on AIM. It is expected that the Admission of these Ordinary Shares will become effective and that trading in the new shares will commence on 5 August 2013. Following the Admission of these Ordinary Shares, the Company's enlarged issued share capital will comprise of 3,052,472,570 Ordinary Shares.

It is proposed that the following steps shall be taken in relation to the Company's share capital to effect the Reorganisation:

(a) the Existing Ordinary Shares of 1 pence will be consolidated on the basis of one Interim Ordinary Share of 10 pence each for every 10 Existing Ordinary Shares; and

(b) immediately following such consolidation each Interim Ordinary Share will be subdivided and converted into one New Ordinary Share of 1 pence and one B Deferred Share of 9 pence each.

Ordinary Shares
As a consequence of the Reorganisation each Shareholder's holding of New Ordinary Shares will (ignoring fractional entitlements) immediately following the Reorganisation becoming effective be one tenth of the number of Existing Ordinary Shares held by them on the Record Date (being 5pm on the day of the General meeting). However each Shareholder's proportionate interest in the Company's issued ordinary share capital will remain unchanged as a result of the proposed Reorganisation.

lol H

seems to be recovering again now

can it pull out of what might be a fatal tailspin?

sp 6.4p .....still diving!

Was sooooooo tempting to have a punt on this stock based on nothing but the assumption that it had reached the bottom and the only way was up! Sooooooooooo glad I didn't.

RNS Lonrho shareholding diluted to 36%

Classic post consolidation drop in the sp.
2517

should be a very red day here after todays rns

Fastjet CEO Ed Winter shares his plans for low-cost air travel in Africa

http://www.howwemadeitinafrica.com/fastjet-ceo-ed-winter-shares-his-plans-for-low-cost-air-travel-in-africa/30083/

sp 4.4p parachutes at the ready!

Appears today that Fastjet seems to be bouncing off the 50MA presently at 4.27p as long as this stock doesn't close below this level then this can move back up from here, any close below this points towards the 100MA down at 3.38p

fastjet Passenger Statistics for August 2013

sp down a further 6% somebody is dumping, is it Lonrho?

Some large trades and volume today as the MMs have push prices higher at 1pm, has been holding on the up as mixed trades are now going on.
Those large trades could be the overhang being cleared

5.67p +1.00p

The turnaround has been very strong since yesterday, with today's volume almost as large as yesterday in less than 2 hours of trading

Has broken from the previous intraday high today 5.925p and spiked to 6.45p
a huge volume on the half day mark 41M

Went over 7p earlier, now just there and 51% rise

Stmnt re Share Price Movement

The Company notes the movement in the market price of its ordinary shares and confirms that it is not aware of any reason for this movement