5 April 2019
("fastjet" or the "Company" or the "Group")
Further to the announcement made on 28 December 2018 regarding the resignation of Group Chief Financial Officer Michael Muller, fastjet is pleased to announce the appointment of his replacement, Kris Jaganah, to its Board.
Mr Jaganah, 39, has been seconded to fastjet in the role of Deputy Chief Financial Officer since October 2018. Mr Muller remained in his role at fastjet until the end of March 2019 to ensure a smooth transition.
Kris Jaganah is employed by Bridgewater Administration Limited ("Bridgewater"), a company providing Accounting and Administrative services to Solenta Aviation Holdings Limited ("SAHL") amongst others. Kris has been seconded to fastjet Plc for an initial period of three years, with the aim of utilising his strong IT and systems focus, together with his aviation experience, in order to drive enhancements in systems, reporting and data automation. In addition to three years of aviation experience, Mr Jaganah has over ten years' experience in the financial services sector, as well as four years in the pharmaceutical industry. Mr Jaganah is a Fellow of the Association of Chartered Certified Accountants following qualification in 2006. Bridgewater and SAHL are related parties.
Commenting on the appointment, fastjet Chairman Rashid Wally, said:
"I am delighted to welcome Kris into his new role. The range and depth of experience and expertise he brings will prove valuable as the Company moves forward through 2019 and beyond."
fastjet Chief Executive Officer Nico Bezuidenhout, added:
"I would also like to personally thank Michael for his significant contribution and dedication to the fastjet Board and senior management team. He leaves with our best wishes for the future."
Mr Jaganah holds or has held the following directorships in the five years preceding his appointment at fastjet:
Federal Airlines (Pty) Limited
Acia Aero Leasing Limited
ACIA Aero Limited
Aeroserve Holdings Limited
Aircraft Leasing & Management Limited
Aviation Investments Limited
Aviation Leasing Company Limited
Bridgewater Administration Limited
Specialised Leasing Services Limited
Stripes Aero Company Limited
Network Aviation Management Services Limited
IPR Conversions Limited
Cahone Company Limited
Cahone Mauritius Limited
ACIA Aero Parts Company Limited
ACIA Aero Technics & Leasing SAS
ACIA Aero Parts Company SAS
AWK Aero Limited
SAFMIN Holdings Limited
IPR Conversions (Switzerland) Ltd
ACIA Aero Operations Limited
ACIA Investments Limited
Aeromann Leasing Limited
IPR Leasing Limited
Aurora Investments Limited
Aviation Management Services Limited
KGV Trading Company Limited
In relation to Kris Jaganah's appointment to the Board, there is no further information required to be disclosed pursuant to paragraph (g) of Schedule 2 to the AIM Rules.
This announcement is released by fastjet and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. This announcement is being made on behalf of the Company by Kris Jaganah, Chief Financial Officer of fastjet.
For more information, contact:
Tel: +27 (0) 10 070 5151
Nico Bezuidenhout, Chief Executive Officer
Kris Jaganah, Chief Financial Officer
Liberum Capital Limited - Nominated Adviser and Broker
Tel: +44 (0) 20 3100 2222
UK media - Citigate Dewe Rogerson
Tel: +44 (0) 20 7638 9571
NOTES TO EDITORS
About fastjet Plc
fastjet is a multi-award winning (including Skytrax World Airline Awards Best Low-Cost Airline in Africa 2017 and Leading African Low-Cost Carrier, World Travel Awards 2016, 2017 and 2018) African value airline for everyone that began flight operations in Tanzania in November 2012, flying passengers from Dar es Salaam to just two domestic destinations - Kilimanjaro and Mwanza.
Today, fastjet's route network includes flights from Harare to Bulawayo, Harare to Victoria Falls and from Harare and Victoria Falls to Johannesburg in South Africa. fastjet began branded domestic flights in Mozambique (Operated by Solenta Aviation Mozambique) in November 2017 and its network currently flies between Maputo and Beira, Quelimane and Tete. The airline has flown over 3.5 million passengers with an impressive on-time performance aggregate, establishing itself as a punctual, reliable, and affordable carrier.
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