Issue of Shares & Date for Release of Results

RNS Number : 2887L

Avation PLC

03 July 2014

 



RNS: AVAP

3 July 2014

AVATION PLC
(the 'Company')

ISSUE OF SHARES AND DATE FOR RELEASE OF RESULTS

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, has completed  a placing at 140 pence per share. The issue raised £4.2 million before expenses from the issue of 3,000,000 ordinary shares (the "Placing") of the Company (the "Placing Shares") at a price of 140 pence per share. The placing is conditional only on admission of the Placing Shares to the Official List and to trading on the London Stock Exchange's main market for listed securities becoming effective ("Admission").

The Net Proceeds of the Placing are intended to be used by the Company for certain pre-delivery payments of new aircraft in the ordinary course of business.

The Placing Shares will be issued fully paid and rank pari passu in all respects with the Company's existing ordinary shares in issue. Following Admission the Company's total issued share capital will be 52,604,639 ordinary shares, including 450,000 ordinary shares held in treasury. The Placing Shares will represent approximately 5.7% of the enlarged issued share capital of the Company. For the purposes of calculating Total Voting Rights shareholders may use the number 52,154,639 as the total number of shares in issue from the date of Admission.

Application will be made for the Placing Shares to be listed on the standard segment of the Official List and to be admitted to trading on the London Stock Exchange's main market for listed securities. It is expected that Admission will become effective and that dealings in the Placing Shares will commence at 8:00 a.m. on 8 July 2014.

Further to the Company's announcement on 11 June 2014, the Financial Results for the year ending 30 June 2014 are now expected to be announced on or around 29 August 2014.

-ENDS-

More information on Avation PLC can be seen at: www.avation.net

Avation PLC	Duncan Scott, Group General Counsel	[phone]
WH Ireland	Harry Ansell / James Joyce	[phone]
Cenkos	Guy Briselden	[phone]
Blytheweigh	Tim Blythe / Eleanor Parry	[phone]

 

END

 

 

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