LONDON, Feb. 12, 2021 /PRNewswire/ -- Avanti
Communications Group plc (AIM: AVN.L) (the "Company" or
"Avanti") today announces that it has received the Requisite
Consents under its previously announced consent solicitation, as
amended on February 9, 2021 (the
"Consent Solicitation") (i) to increase the $145.0 million basket under Section 4.09(b)(24)
of the Indenture to $190.0 million
and, to the extent required, certain other consents in connection
with a $30.0 million capital
injection, (ii) to the Funds Release, to the extent such consents
are required, and (iii) to waiver certain Past Defaults. The
Company is, therefore, terminating the Consent Solicitation
effectively immediately.
The Consent Solicitation was made pursuant to the terms and
subject to the conditions set forth in the consent solicitation
statement (the "Consent Solicitation Statement") dated
February 4, 2021, as amended on
February 9, 2021.
At the time at which the Supplemental Indenture was executed,
the Company had received consents from holders representing 78.49%
in aggregate principal amount of the Notes in connection with the
Consent Solicitation.
Any questions or requests for assistance related to the Consent
Solicitation may be directed to D.F. King & Co., Inc., the
information and tabulation agent in connection with the Consent
Solicitation, at +1 (800) 317-8033 (toll free), +1 (212) 269-5550
(collect) or by email to: avn@dfking.com.
Terms used but not defined in this press release have the
meaning given to them in the Consent Solicitation Statement.
Important Notices
This announcement may contain forward-looking statements
regarding future events or the future financial performance of
Avanti. You can identify forward looking statements by terms such
as "expect", "believe", "estimate", "anticipate", "intend", "will",
"could", "may", or "might", the negative of such terms or other
similar expressions. These forward-looking statements include
matters that are not historical facts and statements regarding
Avanti's intentions, beliefs or current expectations concerning,
among other things, the expected outcome of the Consent
Solicitation. By their nature, forward-looking statements involve
risks and uncertainties, because they relate to events and depend
on circumstances that may or may not occur in the future. Avanti
cautions you that forward-looking statements are not guarantees of
future performance and that Avanti's actual results may differ
materially from those described in or suggested by the
forward-looking statements contained in this announcement. In
addition, even if Avanti's results are consistent with the
forward-looking statements contained in this announcement, those
results or developments may not be indicative of results or
developments in future periods. Avanti does not intend to update
these statements to reflect events and circumstances occurring
after the date hereof or to reflect the occurrence of unanticipated
events. Many factors could cause the actual results to differ
materially from those contained in forward-looking statements of
Avanti, including, among others, general economic conditions, the
competitive environment and the many other risks specifically
related to Avanti and its operations, including those discussed in
this announcement.
This announcement is for information
purposes only and is not intended to, and does not, constitute or
form part of any offer, invitation or the solicitation of an offer
to purchase, otherwise acquire, subscribe for, sell or otherwise
dispose of, any securities whether pursuant to this announcement or
otherwise. The terms of the Consent Solicitation are contained in
the relevant Consent Solicitation Statement and accompanying Letter
of Consent and related documents. Questions concerning the Consent
Solicitation should be directed to D.F. King &
Co., Inc., the Information and Tabulation Agent, at +1 (800)
317-8033 (toll free), +1 (212) 269-5550 (collect) or by email to:
avn@dfking.com.
The distribution of this announcement in jurisdictions outside
the United Kingdom may be
restricted by law and therefore persons into whose possession this
announcement comes should inform themselves about, and observe such
restrictions. Any failure to comply with the restrictions may
constitute a violation of the securities law of any such
jurisdiction.
In particular, this announcement is not an offer of securities
for sale in the United States.
Securities may not be offered or sold in the United States absent registration or an
exemption from registration under the United States Securities Act
of 1933. Any securities mentioned herein have not been and will not
be registered under the United States Securities Act of 1933, and
no public offering will be made in the
United States.
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SOURCE Avanti Communications Group plc