Director Shareholding

RNS Number : 7199C

Avingtrans PLC

23 January 2018

 

23 January 2018 

Avingtrans Plc

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

Directors Shareholding

Avingtrans plc, which designs, manufactures and supplies critical components, modules and associated services to the energy and medical sectors, announces that Ewan Lloyd-Baker, non-executive director of the Company, has entered into a sale and repurchase agreement with Equities First Holdings ("EFH"), a securities based capital provider of finance for private and institutional investors (the "Agreement"), in respect of 300,000 ordinary shares (the "Transferred Shares") of his total shareholding of 775,993 ordinary shares in the Company, as security for a loan to satisfy a personal tax liability.

Under the terms of the Agreement, Mr Lloyd-Baker has transferred the Transferred Shares to EFH for consideration to be determined by the average of the last sale price of the ordinary shares as reported on Bloomberg over the three trading days upon and following receipt of the Transferred Shares by EFH.

Mr Lloyd-Baker is required to redeem the Transferred Shares at maturity when the loan is repaid at the end of the two year term.   Under the terms of the Agreement, EFH is prohibited from short selling or voting the shares during the term of the loan.

Enquiries:

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

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ewan Lloyd- Baker
2	Reason for the notification
a)	Position/status	Non-Executive Director
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	213800ZZ96CKPI423E86
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	Pledge of shares as security in relation to a personal loan
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 300,000
d)	Aggregated information - Aggregated volume - Price	N/A (individual transaction)
e)	Date of the transaction	23 January 2018
f)	Place of the transaction	Outside a trading venue

About Avingtrans

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

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