Asset Match is changing how it settles trades and is partnering with shareDeal active. Read the full announcement here

Fastjet Ltd
Company Name:Fastjet Ltd Minimum fundraise:£0* High Share Price Bid:£0
Business Sector:Logistics and transport Total Funds Bid to Date:£0 Low Share Price Bid:£0
Auction period:26 Nov 2020 - 24 Feb 2021 Indicative Share Price:0.03 Average Share Price Bid:£0**
*The company will accept oversubscription.
**In the event of significant oversubscription, shares will be allocated to bids at the average price and above.
NOTE: ASSET MATCH HAS NEGOTIATED AN “ASSET MATCH INVESTOR BONUS” FOR INVESTORS IN THIS TRANSACTION. SEE THE “OVERVIEW” SECTION BELOW FOR DETAILS.

Need help?
+44 (0) 207 248 2788

back

Fastjet Ltd

Fastjet Ltd

Market Cap: £1,140,247 Auction period: 26 Nov 2020 - 24 Feb 2021 Indicative price: 0.03

Live Started 61 days ago

Current Indicative Price 0.03p

Auction closes in 28 days


BUY ORDERS SELL ORDERS

Cumulative Number of Shares Share Price (p)
15,000,000 0.03
-- 0.05
-- 0.06
   
Share Price (p) Cumulative Number of Shares
0.03 1,010,378
0.05 1,312,743
0.06 3,635,758
   

BUY ORDERS

SELL ORDERS

Cumulative Number of Shares Share Price (p) Cumulative Number of Shares
15,000,000 0.03 1,010,378
-- 0.05 1,312,743
-- 0.06 3,635,758
     

Interested in Fastjet Ltd?
Register or log in to participate, create a watchlist, or set reminder

Company info

Fastjet Ltd is a multi-award-winning African value airline that began flight operations in 2012. Its awards include Leading African Low-Cost Carrier World Travel Awards 2016, 2017, 2018 and 2019, and Skytrax World Airline Awards Best Low-Cost Airline in Africa 2017.

Today, fastjet connects the three major cities in Zimbabwe by flying between Harare and Victoria Falls and Harare and Bulawayo. Internationally the airline offers flights from Harare and Bulawayo to Johannesburg in South Africa.

In October 2018, fastjet acquired an interest in FedAir, which provides unscheduled shuttle and charter services to the game lodges in the Southern Africa region.

Since commencing operations fastjet has flown over 3.5 million passengers and has established itself as a punctual, reliable, and affordable airline, with value-added services inclusive of free baggage allowance(s), airport lounge access, dedicated check-in and more according to the new fare attributes introduced across their network.

www.fastjet.com

Auction Details

Fastjet Ltd was admitted to trading on Asset Match on 24 August 2020 at a price of 0.03 pence per share (being the last traded price on AIM).

Auctions are held quarterly and close at 4pm on the last Wednesday of the month (unless stated otherwise).

Participants can send orders via their exisiting broker or directly to The Share Centre. Further details can be found by clicking on the "Auction instructions" section below.

Auction instructions

To buy and sell shares in this company via Asset Match Private Market, you will need to use a stockbroker.

           -  shareDeal active

If you are a UK resident, our main broker and settlement agent for all CREST eligible companies on the AM Private Market is shareDeal active.

shareDeal active provide a competitively priced service for both certified and non-certified transactions. You can open an account online or by post using the form provided.

Alternatively, if you already have an account with shareDeal active and wish to place an order please contact the Dealing desk directly on 01892 510515 or deal online.

To sell a share certificate, the easiest way to trade is to set up a shareDeal active account online and once open post your share certificate with a completed CREST transfer form. Alternatively, you can open an account by post using the Asset Match Certificated Sale Pack which includes everything you will need.

It generally takes 5-7 days for your account to be open and shares available for trading.

           -  Already have a stockbroker

Over 60 UK brokers regularly trade and are set up to deal on our platform. These brokers can submit your instructions to shareDeal active on your behalf*.

Please note that not all brokers are able to deal in unquoted shares so contact us to confirm whether your broker is able to trade.

           -  Overseas

If you are based overseas and are interested in participating then please contact us directly by emailing dealing@assetmatch.com or by calling 020 7248 2788.

​​When buying and selling shares, please note that the Asset Match levy of 3% applies, with a minimum charge of £20 per trade (*additional fees may apply).

For more information on how the auction works then please click here.

 

Key People

Mark Hurst Chief Executive Officer (Interim)

Mark Hurst holds significant aviation experience with particular expertise in fleet management, aircraft sourcing and leasing as well as the development and implementation of operational efficiencies throughout the aviation value chain.

He is highly regarded in the African aerospace sector for his track record in operational integrity, ability to develop strategic operations in challenging environments and value and supply chain management. Mr. Hurst continues to serve as Group CEO of the Solenta Aviation Group.

   

Kris Jaganah Chief Financial Officer

Kris Jaganah has been appointed as Group Chief Financial Officer in March 2019 after having been seconded to the group in October 2018. Kris Jaganah brings several years of experience from the financial services, pharmaceutical and aviation industries. During the last 10 years prior to his appointment at Fastjet he held the following roles:

  • Chief Financial Officer – Acia Aero Capital Limited
  • Senior Group Finance Manager – African Alliance Holdings Limited
  • Head of Financial Planning & Analysis – Aspen Global Incorporated
  • Head of back office operations – Superfund Advisory

He has a history of driving operational efficiencies across all functions and ensuring organisational goals are measured within all companies he has been involved.

Kris Jaganah is a qualified Chartered Certified accountant.

   

Rashid Wally Non-Executive Chairman

Rashid Wally was appointed as Non-Executive Chairman with effect from 1 April 2017. Mr Wally was previously the Chairman and member of the Audit Committee of South African low-cost carrier Mango Airlines (SOC) Ltd.

In addition to his airline experience, Mr Wally has a track record spanning over 38 years in the information technology sector having held various senior executive positions with IBM in Africa, Europe, the Middle East, South East Asia and Lenovo in Africa.

He is highly regarded for his corporate turnaround experience, having successfully completed many restructuring projects in his previous roles. Mr Wally also has significant corporate governance expertise which will benefit fastjet as it continues to expand and develop.

   

Robert Burnham Non-Executive Director

Robert Burnham has been a non-executive director of the Company since May 2006. Rob has held a variety of executive director and senior management positions in a number of listed companies both in the UK and USA.

He has undertaken lead roles in substantial merger and acquisition transactions and, as Chairman, led a flotation on the London AIM market. He currently operates as a Management Consultant advising businesses on building enterprise value through profitable growth and staff professional development.