TR-1: Notification of Major Interest in Shares

For filings with the FSA include the annex For filings with issuer exclude the annex ---------------------------------------------------------------------------------- TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES (i) ---------------------------------------------------------------------------------- ---------------------------------------------------------------------------------- 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are AVATION PLC attached:(ii) ---------------------------------------------------------------------------------- 2. Reason for the notification (please tick the appropriate box or boxes): ---------------------------------------------------------------------------------- An acquisition or disposal of voting rights X -----------------------------------------------------------------------=========== An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached -----------------------------------------------------------------------=========== An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments -----------------------------------------------------------------------=========== An event changing the breakdown of voting rights -----------------------------------------------------------------------=========== Other (please specify): -----------------------------------------------------------------------=========== 3. Full name of person(s) subject to the notification obligation: (iii) OCEANWOOD CAPITAL MANAGEMENT LLP ---------------------------------------------------------------------------------- 4. Full name of shareholder(s) OCEANWOOD GLOBAL OPPORTUNITIES (if different from 3.) (iv) MASTER FUND ---------------------------------------------------------------------------------- 5. Date of the transaction and date on which the threshold is crossed or 20th September 2013 reached: (v) ----------------------------------------------------------------------------------- 6. Date on which issuer notified: 23rd September 2013 ----------------------------------------------------------------------------------- 7. Threshold(s) that is/are crossed or reached: (vi, vii) Above 24% Threshold ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- 8. Notified details: ----------------------------------------------------------------------------------- A: Voting rights attached to sharesviii, (ix) ----------------------------------------------------------------------------------- Class/type Situation previous Resulting situation after the triggering of to the triggering transaction shares transaction if possible using the ISIN CODE ----------------------------------------------------------------------- Number Number Number Number of voting % of voting rights of of of shares rights (x) Shares Voting Rights -------------------------------------------------- Direct Direct (xi) Indirect Direct Indirect (xii) ------------------------------------------------------------------------------------ Ord GBP 8,938,140 8,938,140 12,058,140 12,058,140 24.7% Shares ISIN: GB00B196F554 ------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------ B: Qualifying Financial Instruments ------------------------------------------------------------------------------------ Resulting situation after the triggering transaction ------------------------------------------------------------------------------------ Type of Expiration Exercise/ Number of % of voting financial date (xiii) Conversion voting rights instrument Period (xiv) rights that may be acquired if the instrument is exercised/ converted. ------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------ C: Financial Instruments with similar economic effect to Qualifying Financial Instruments (xv, xvi) ------------------------------------------------------------------------------------ Resulting situation after the triggering transaction ------------------------------------------------------------------------------------ Type of Exercise Expiration Exercise/ Number of % of voting rights financial price date (xvii) Conversion voting (xix), instrument period(xviii) rights instrument refers to ----------------------------------------------------------------------------------- Nominal Delta -------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- Total (A+B+C) ----------------------------------------------------------------------------------- Number of voting rights Percentage of voting rights ----------------------------------------------------------------------------------- 12,058,140 24.7% ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: (xxi) ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- Proxy Voting: ----------------------------------------------------------------------------------- 10. Name of the proxy holder: ----------------------------------------------------------------------------------- 11. Number of voting rights proxy holder will cease to hold: ----------------------------------------------------------------------------------- 12. Date on which proxy holder will cease to hold voting rights: ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- 13. Additional information: ----------------------------------------------------------------------------------- 14. Contact name: ----------------------------------------------------------------------------------- 15. Contact telephone number: ----------------------------------------------------------------------------------- Avation plc

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Avation (AVAP)
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