Avingtrans PLC
16 March 2006
Avingtrans plc
Director Shareholding
16 March 2006
Avingtrans plc ('Avingtrans' or 'the Company') announces that it was notified on
15 March 2006 of the following transactions in the ordinary shares of the
Company made by Steven Lawrence, a director of the Company.
On 15 March 2006, Mr Lawrence exercised 398,000 warrants over ordinary shares in
the Company at a price per warrant of 50 pence. These warrants had been issued
to him pursuant to the acquisition of the Jena Group, which was completed on 28
June 2002. Also on 15 March, Mr Lawrence agreed to sell 148,000 ordinary shares
at a price per share of 147 pence following admission of the new ordinary shares
being admitted to AIM in order to pay costs associated with the exercise of the
warrants. The net change in Mr Lawrence's holding in ordinary shares in the
Company as a result of these transactions is an increase of 250,000 ordinary
shares.
Following the above described transaction, Steve Lawrence holds 250,000 ordinary
shares in the Company, representing 1.62% of the enlarged issued share capital
of the Company. In addition, Mr Lawrence holds 112,000 warrants, which may vest
dependent on the Company's earnings per share for the year to 31 May 2006, and
75,000 share options.
Pursuant to the above described exercise of warrants by Mr Lawrence, Avingtrans
announces that 398,000 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 Alternative Investment Market and it is
expected that admission will take place on 21 March 2006. The new ordinary
shares will rank pari passu with the existing shares of the Company. Following
the allotment the total issued share capital of the Company has increased to
15,432,086 ordinary shares.
This information is provided by RNS
The company news service from the London Stock Exchange
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