Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Exercise of Share Options and Director Dealings
Avingtrans (AIM:AVG), a manufacturer of critical components and associated
services to the global aerospace, energy and medical sectors announces that it
was notified on 19 March 2013 of the transactions described below in the
ordinary shares of the Company.
On 19 March 2013, the Company was notified of the exercise of 90,000 options
over ordinary shares of 5p each in the Company ("Ordinary Shares") to directors
and senior managers, of which 50,000 options have an exercise price of 40.0
pence and 40,000 options have an exercise price of 35.0 pence.
Details of the exercise of options by Stephen King a director of the Company,
the sale of shares and the subsequent beneficial holdings of such director
following the transactions set out below:
Director Number of Options Number of Ordinary Beneficial interest
exercised at 40p Shares Sold in Ordinary Shares
after the
transaction
Stephen King 50,000 10,000 175,000
Stephen King sold the 10,000 Ordinary Shares at a price of 95 pence per share.
Pursuant to the above transactions, Avingtrans announces that 90,000 ordinary
shares of 5p each in the Company have been allotted. Application has been made
to the London Stock Exchange for the new ordinary shares to be admitted to
trading on AIM and it is expected that admission will take place on 26 March
2013. The new ordinary shares will rank pari passu with the existing shares of
the Company.
Subsequent to issue of the Ordinary Shares as above, the Company's total issued
share capital is 27,049,397 Ordinary Shares. Avingtrans does not hold any
Ordinary Shares in treasury. Therefore, the total number of voting rights in
Avingtrans is 27,049,397.
The above figure 27,049,397 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 and Transparency Rules.
Enquiries:
Avingtrans plc 0115 949 9020
Steve McQuillan, CEO
Stephen King, CFO
Numis Securities Limited 020 7260 1000
David Poutney (Corporate Broking)
Richard Thomas (Corporate Finance and Nominated Adviser)
Newgate Threadneedle 020 7653 9850
(Financial PR)
Josh Royston
Heather Armstrong
About Avingtrans
Avingtrans plc is engaged in the provision of highly engineered components
and services to the Aerospace, Energy and Medical markets worldwide.
The business is made up of 2 divisions:
• Aerospace, engaged in the manufacture of rigid pipe assemblies,
fabrications and prismatic components - both metallic and composite - for
the global aerospace market and precision polishing of aircraft components
and;
• Energy and medical, engaged in the manufacture of machined and fabricated
pressure and vacuum vessels and components for the energy, medical, science
and research communities. Plus, design and manufacture of fabricated poles
and cabinets for roadside safety cameras and rail track signalling.
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