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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.
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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.
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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.
report thisMichael 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..................
report thisGraham 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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