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Artemis and Hargreaves Hale buy into start-up African airline

John Dodd and Adrian Paterson, co-managers of the Artemis Alpha Trust, along with Giles Hargreave, have piled in to the company behind FastJet.

 
Artemis and Hargreaves Hale buy into start-up African airline

Artemis smaller company manager John Dodd has taken a near 10% stake in the business behind FastJet – a joint partnership with easyJet (EZJ.L) founder Sir Stelios – which plans to set up a low-cost African airline.

Dodd took 25 million shares in a placing by Rubicon Diversified Investment (RUBI.L), which plans to raise finance for the project, worth £1 million at an issue price of 4p.

The shares are held in the £274 million Artemis Alpha Trust , a pick of Citywire Selection, co-managed by Adrian Paterson. The fund invests primarily in small, micro-cap and unlisted UK businesses.

Rubicon announced in early December its intention to develop a 'low-cost, point-to-point, no-frills, all-jet' airline along the lines of easyJet, serving regional hubs across the African continent.

The company has agreed to pay Sir Stelios’ easyGroup £505,000 to carry out an initial feasibility study.

Also buying heavily into the company in recent weeks has been Citywire A-rated Giles Hargreave, head of Hargreaves Hale, arguably one of the most successful UK smaller company managers of recent years. 

3 comments so far. Why not have your say?

Michael Brooks

Jan 10, 2012 at 17:56

All I can say is the best of luck mate, dealing with all those African dictatorships.

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Michael Peters Fenwicks

Jan 10, 2012 at 18:20

I think it is a great idea regardless of the risk but the reward is first class at best...........

When it comes to Africa - it is not where you start but it where you finish in the simplest terms.

I want a slice of this..................

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Graham Clapton

Jan 11, 2012 at 09:10

As far as I am aware Fastjets African partner in the proposed airline is Lonrho, who are currently building an airline service in a number of sub sahara countries.

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