Avanti Communications Group plc (AIM: AVN) has signed a contract with a Government customer for the sale of an option over specific capacity on the HYLAS 2 satellite, which serves the Middle East, Africa and Europe. Under the option, which is structured as a Right of First Refusal valid for three years, the customer may purchase a specific amount of capacity on HYLAS 2 which, if fully exercised, will be worth up to £113.4 million to Avanti over a three year period. In return, Avanti will receive an option fee of £280,000. The contract price per MHz is significantly higher than previous sales. The Agreement also contemplates further collaboration between the two parties in relation to other capacity on the HYLAS fleet.
Satnews Daily
April 27th, 2010
Avanti Communications... Marvelous MHz Monetary Moment...
Avanti Communications Group plc (AIM: AVN) has signed a contract with a Government customer for the sale of an option over specific capacity on the HYLAS 2 satellite, which serves the Middle East, Africa and Europe. Under the option, which is structured as a Right of First Refusal valid for three years, the customer may purchase a specific amount of capacity on HYLAS 2 which, if fully exercised, will be worth up to £113.4 million to Avanti over a three year period. In return, Avanti will receive an option fee of £280,000. The contract price per MHz is significantly higher than previous sales. The Agreement also contemplates further collaboration between the two parties in relation to other capacity on the HYLAS fleet.