Exercise of Share Options & PDMR Share Dealing

RNS Number : 7435R

Avingtrans PLC

13 December 2016

 

This announcement replaces the previous release made on 12 December 2016 at 4.30pm under RNS number 6167R. The previous announcement listed the wrong admission date for the new ordinary shares, which has been corrected to 16 December 2016. All other information remains unchanged.

Avingtrans Plc

("Avingtrans" or the "Company" or the "Group")

Exercise of Share Options & PDMR Share Dealing

Avingtrans (AIM:AVG), a manufacturer of critical components and associated services to the global aerospace, energy and medical sectors announces that on 12 December 2016 the Company issued 17,000 ordinary shares of 5 pence each ("Ordinary Shares") following the exercise of options under the Company's CSOP share option scheme by Austen Adams, Managing Director of the Energy & Medical Division and a PDMR of the Company, at an exercise price of 176p per share.

The Company was subsequently notified that immediately following the issue, Mr Adams onward sold the new Ordinary Shares at a price of 187p per share and as a result, Mr Adams is not holding any Ordinary Shares in the capital of the Company.

Application has been made to the London Stock Exchange for the new Ordinary Shares to be admitted to trading on AIM, with dealings expected to commence on 16 December 2016 ("Admission"). Upon Admission, the new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.

After Admission, the Company's total issued share capital is 18,334,888 Ordinary Shares. Avingtrans does not hold any Ordinary Shares in treasury and therefore following Admission, the total number of voting rights in Avingtrans will be 18,334,888.

The above figure 18,334,888 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Avingtrans under the FSA's Disclosure Guidance and Transparency Rules. 

Enquiries:

Avingtrans plc Steve McQuillan, CEO Stephen King, CFO	0135 469 2391
N+1 Singer Shaun Dobson Lauren Kettle	020 7496 3000
Newgate Threadneedle    (Financial PR) Adam Lloyd Ed   Treadwell	020 7653 9850

About Avingtrans

Avingtrans plc is engaged in the provision of highly engineered components, systems and services to the energy, medical and traffic management industries worldwide.

	Energy and medical, engaged in the design and manufacture of safety critical equipment for the energy, medical, science and research communities, including oil and gas extraction and processing equipment, nuclear process plant, machined and fabricated pressure and vacuum vessels and components. Also, design and manufacture of fabricated poles and cabinets for roadside safety cameras and rail track signalling. The strategy of the group, is to "buy and build" in regulated engineering niche markets, where we can see potential consolidation opportunities, which can lead to significantly increased shareholder value over the medium to long term.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Austen Adams
2	Reason for the notification
a)	Position/status	Managing Director, Energy & Medical Division (PDMR)
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Avingtrans plc
b)	LEI
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of 5p each GB0009188797
b)	Nature of the transaction	Exercise of options
c)	Price(s) and volume(s)	Price(s) Volume(s) 176p 17,000
d)	Aggregated information - Aggregated volume - Price	N/A (individual transaction)
e)	Date of the transaction	12 November 2016
f)	Place of the transaction	Off-market transaction

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Austen Adams
2	Reason for the notification
a)	Position/status	Managing Director, Energy & Medical Division (PDMR)
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Avingtrans plc
b)	LEI
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of 5p each GB0009188797
b)	Nature of the transaction	Sale of ordinary shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 187p 17,000
d)	Aggregated information - Aggregated volume - Price	N/A (individual transaction)
e)	Date of the transaction	12 November 2016
f)	Place of the transaction	London Stock Exchange

 

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