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                Avation PLC
of existing shares to which voting rights are                     (ISIN GB00B196F554)
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
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An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares       X
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 the                   Bennelong Asset Management LLP
notification obligation: (iii)
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4. Full name of shareholder(s)                             Bennelong Asia Pacific Multi Strategy Equity Master Fund
(if different from 3.):(iv)                                  Limited
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5. Date of the transaction and date on                     19th September 2013
which the threshold is crossed or
reached: (v)
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6. Date on which issuer notified:                          19th September 2013
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7. Threshold(s) that is/are crossed or                     From 7.4% to 6.4%
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 of          Situation previous            Resulting situation after the triggering transaction
shares                 to the triggering
                       transaction
if possible using      ----------------------------------------------------------------------------------------------
the ISIN CODE
                       Number         Number         Number         Number of voting          % of  voting rights (x)
                       of             of             of shares      rights
                       Shares         Voting
                                      Rights         ----------------------------------------------------------------
                                                     Direct         Direct (xi)  Indirect (xii) Direct       Indirect
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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 Period (xiv)    rights that may be            rights
                                                                        acquired if the
                                                                        instrument is
                                                                        exercised/converted.
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Contract for Difference                                                 3,120,000                     6.4%
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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 financial       Exercise      Expiration    Exercise/       Number of voting rights  % of voting rights (xix,
instrument              price         date xvii     Conversion      instrument refers to     xx)
                                                    period (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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3,120,000                                                     6.4%
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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:                                                  n/a
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11. Number of voting rights proxy holder will cease                            n/a
to hold:
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12. Date on which proxy holder will cease to hold                              n/a
voting rights:
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13. Additional information:
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14. Contact name:                                             Mark Konda/Philippa Jones
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15. Contact telephone number:                                 02071900881/02071900842
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Avation plc