TR-1: Notification of Major Interest in Shares

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For filings with the FSA include the annex
For filings with issuer exclude the annex
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TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i)
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1. Identity of the issuer or the underlying
issuer of existing shares to which voting                        AVATION PLC
rights are attached:(ii)
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2. Reason for the notification (please tick
the appropriate box or boxes):                                              
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An acquisition or disposal of voting rights                               X
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An acquisition or disposal of qualifying
financial instruments which may result in
the acquisition of shares already issued to
which voting rights are attached   
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An acquisition or disposal of instruments 
with similar economic effect to qualifying
financial instruments                                                       
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An event changing the breakdown of voting rights                            
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Other (please specify):
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3. Full name of person(s) subject to        OCEANWOOD CAPITAL MANAGEMENT LLP
the notification obligation:(iii)
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4. Full name of shareholder(s)         OCEANWOOD GLOBAL OPPORTUNITIES MASTER
(if different from 3.):(iv)                                             FUND
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5. Date of the transaction and date on                              
which the threshold is crossed or                           27th August 2013
reached:(v)
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6. Date on which issuer notified:                           28th August 2013
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7. Threshold(s) that is/are crossed or                   Above 18% Threshold
reached:(vi, vii)
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8. Notified details:
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A: Voting rights attached to shares(viii, ix)
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Class/type  Situation previous  Resulting situation after the triggering
of shares   to the triggering   transaction
            transaction
if possible ----------------------------------------------------------------
using the   Number    Number    Number    Number of voting   % of voting    
ISIN CODE   of        of        of        rights             rights(x) 
            Shares    Voting    shares  
                      Rights    --------------------------------------------
                                Direct    Direct    Indirect Direct Indirect
                                          (xi)      (xii)
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Ord GBP     7,788,140 7,788,140 8,788,140 8,788,140          18.01
Shares
ISIN:
GB00B196F554

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B: Qualifying Financial Instruments
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Resulting situation after the triggering transaction
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Type of financial  Expiration  Exercise/    Number of voting     % of voting
instrument         date(xiii)  Conversion   rights that may be   rights     
                               Period(xiv)  acquired if the
                                            instrument is                   
                                            exercised/
                                            converted.
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C: Financial Instruments with similar economic effect to Qualifying
Financial Instruments(xv, xvi)
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Resulting situation after the triggering transaction
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Type of    Exercise Expiration  Exercise/  Number of voting   % of voting
financial  price    date(xvii)  Conversion rights instrument  rights(xix)
instrument                      period     refers to  
                                (xviii)
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                                                              Nominal  Delta
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Total (A+B+C)
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Number of voting rights                   Percentage of voting rights
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8,788,140                                 18.01%
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9. Chain of controlled undertakings through which the voting rights and/or
the financial instruments are effectively held, if applicable:(xxi)
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Proxy Voting:
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10. Name of the proxy holder:
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11. Number of voting rights proxy holder will cease
to hold:
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12. Date on which proxy holder will cease to hold
voting rights:
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13. Additional information:
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14. Contact name:
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15. Contact telephone number:
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Avation plc