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fastjet Announces New Finance Director and Director Change

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fastjet Announces New Finance Director and Director Change fastjet

fastjet, the first pan African low-cost carrier, announces the appointment of Angus Saunders as Finance Director with immediate effect. Mr Richard Blakesley will step down as Finance Director and resign from the Board with immediate effect but will continue in a consulting capacity to ensure a smooth handover of his responsibilities.

David Lenigas, Executive Chairman said: "Richard has played a major role in the various transactions that have transformed fastjet from a cash shell to a successful low cost African airline in the past twelve months. It was always intended that once fastjet operations were launched Richard would step aside and hand over to a Finance Director with operational airline experience. We thank him sincerely for his commitment and contribution."

We are delighted to welcome Angus Saunders into the Finance Director role. Angus has extensive experience in the global aviation industry and he will be a welcome addition to the senior executive team going forward." The Board has agreed to issue 5 million ordinary shares to Richard Blakesley in recognition of his service to the Company. Angus Charles Saunders (aged 50) Angus is a chartered accountant with 18 years of aviation experience. He started his aviation career with start-up carrier British Mediterranean Airways Limited and served on the board from 1997 to 2006 as Chief Financial Officer. After leaving British Mediterranean he has been involved in a number of transactions and interim roles in the aviation industry including Flybe and NAS, and more recently was the Chief Financial Officer of Avianova in Russia. Angus has been working closely with Richard and the fastjet board as a consultant since July of this year in developing the Company's finance functions and systems. His directorships in the last five years are as follows:

Bramble Post Ltd.  Current

Deveracs Ltd. Former

British Mediterranean Airways Ltd. Former

Angus has no interest in the share capital of the Company. There are no other disclosures required in accordance with Schedule 2(g) of the AIM Rules for Companies.

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