The Avanti Communications Group currently provides satellite telecommunications services in Europe using leased satellite capacity. In December 2008, it expects to take delivery for launch of its own satellite, HYLAS. HYLAS uses unique technologies to provide highly flexible and cost effective satellite capacity. In the future, Avanti Communications intends to sell wholesale HYLAS capacity to telecommunications and media network operators. The Board believes that the European broadcast and fixed satellite services market is a very attractive market given its high barriers to entry, high demand for capacity and, currently, the highest average prices in the world.
David Williams, Chief Executive of Avanti Communications, said: “Following the demerger from Avanti Screenmedia, we are delighted that Avanti Communications shares have this morning been admitted to AIM. Obtaining a separate listing gives us an improved profile from which to build our wholesale satellite services and expand our customer base. As satellite spectrum is a finite resource and market demand is high, we expect these factors to provide significant advantages as we continue to build a large and valuable business.”