Employee & PDMR Share Incentive Awards

RNS Number : 3700G

Avingtrans PLC

24 November 2020

 

Avingtrans Plc

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

Employee & PDMR Share Incentive Awards

Avingtrans plc announces that on 24 November 2020, the Board of Avingtrans, in accordance with the Company's Share Option Plan (the "CSOP"), granted options over 600,500 ordinary shares of 5p each in the Company ("Ordinary Shares") with an exercise price of 288.0 pence per Ordinary Share (the "CSOP Awards"). The following CSOP Awards were granted to Directors:

Director	Number of Ordinary Shares subject to CSOP awards
Steve McQuillan	180,000
Stephen King	160,000

Furthermore Austen Adams, Managing Director of the Group's PSRE Division and a PDMR of the Company, has been granted CSOP Awards over a total of 110,000 Ordinary Shares.

The CSOP Awards may not be exercised until 3 years from the date of grant and are subject to a performance condition, being the increase in the Company's adjusted EPS must be at least equal to the increase in RPI over the vesting period.

Enquiries:

Avingtrans plc	01354 692391
Roger McDowell, Chairman Steve McQuillan, Chief Executive Officer Stephen King, Chief Financial Officer
N+1 Singer (Nominated Adviser)	02074 963000
Shaun Dobson/Alex Bond (Corporate Finance) Rachel Hayes (Corporate Broking)
Newgate (Financial PR)	02076 539850
Adam Lloyd/ Tom Carnegie

About Avingtrans plc:

Avingtrans designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy, medical and industrial markets worldwide.

Business units

Hayward Tyler - Luton & East Kilbride, UK and USA, China and India Specialises in the design, manufacture and servicing of performance-critical motors and pumps for challenging environments. Energy Steel, Inc - Lapeer, Michigan, USA Provider of custom fabrications for the nuclear industry, specialising in: OEM parts obsolescence; custom fabrications; engineering design solutions; product refurbishment; on-site technical support. Stainless Metalcraft Ltd - Chatteris, UK and Chengdu, China Provider of safety-critical equipment for the energy, medical, science and research communities, worldwide, specialising in precision pressure and vacuum vessels and associated fabrications, sub-assemblies and systems. Booth Industries - Bolton, UK Designs, manufactures, installs and services doors and walls which can be tailored to be: blast &explosion proof; fireproof; acoustically shielded; high security/safety; or combinations of the above Ormandy Group, Bradford, UK Design, manufacturers and servicing of off-site plant, heat exchangers and other HVAC (heating, ventilation and air conditioning) products Peter Brotherhood - Peterborough, UK Specialises in the design, manufacture and servicing of performance-critical steam turbines, turbo gen-sets, compressors, gear boxes and combined heat and power systems. Composite Products Ltd -  Buckingham, UK Centre for composite technology, parts and assemblies, serving customers in industrial markets. Scientific Magnetics - Abingdon, UK Designs and manufactures superconducting magnet systems and associated cryogenics for a variety of markets including MRI and provides services for Nuclear Magnetic Resonance instruments. Tecmag Inc, Houston, USA Designs, manufactures and installs instrumentation, including consoles, system upgrades, and probes, mainly for Magnetic Resonance Imaging (MRI) and Nuclear Magnetic Resonance (NMR) systems.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Steve McQuillan
2	Reason for the notification
a)	Position/status	Chief Executive Officer
	Initial notification /Amendment	Initial notification
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	Options over Ordinary Shares of 5p each
	Identification code	ISIN: GB0009188797
b)	Nature of the transaction	Award of ordinary shares pursuant to the Company Share Option Plan
c)	Price(s) and volume(s)
			Exercise Price(s) Volume(s) 288.0 pence 180,000
d)	Aggregated information	n/a
	- Aggregated volume
	- Price
e)	Date of the transaction	24 November 2020
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen King
2	Reason for the notification
a)	Position/status	Chief Financial Officer
	Initial notification /Amendment	Initial notification
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	Options over Ordinary Shares of 5p each
	Identification code	ISIN: GB0009188797
b)	Nature of the transaction	Award of ordinary shares pursuant to the Company Share Option Plan
c)	Price(s) and volume(s)
			Exercise Price(s) Volume(s) 288.0 pence 160,000
d)	Aggregated information
	- Aggregated volume	N/A
	- Price	N/A
e)	Date of the transaction	24 November 2020
f)	Place of the transaction	Off-market

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, PSRE Division
	Initial notification /Amendment	Initial notification
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	Options over Ordinary Shares of 5p each
	Identification code	ISIN: GB0009188797
b)	Nature of the transaction	Award of ordinary shares pursuant to the Company Share Option Plan
c)	Price(s) and volume(s)
			Exercise Price(s) Volume(s) 288.0 pence 110,000
d)	Aggregated information	n/a
	- Aggregated volume
	- Price
e)	Date of the transaction	24 November 2020
f)	Place of the transaction	Off market

 

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