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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 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.
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.
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