Troubled Avanti: No news on cash injection
December 9, 2016
By Chris Forrester
Financially troubled satellite operator Avanti Communications Group has somewhat cheekily decided to hold its AGM in London on December 29th – a date when most of the financial community is on vacation.
Moreover, in its statement it admits it can give no further information as to its financial position in its trading year to June 30th 2016. The excuse it uses is that its “strategic review” is still on-going. Avanti started its strategic review in July this year.
Avanti tells its long-suffering shareholders that the anticipated AGM resolutions referring to the annual report & accounts, and the appointment of auditors will take place at a special general meeting “to be convened in early 2017”.
That “early 2017” date is likely to be in February, where the satellite operator’s Interim Results (to December 31st) will be presented.