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Avingtrans PLC (AVG)

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Monday 29 November, 2021

Avingtrans PLC

Employee & PDMR Share Incentive Awards

RNS Number : 9423T
Avingtrans PLC
29 November 2021
 

 

Avingtrans plc

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

Employee & PDMR Share Incentive Awards

Avingtrans plc (AIM: AVG), which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, announces that on 29 November 2021, the Board of Avingtrans, in accordance with the Company's Share Option Plan, granted options over 570,000 ordinary shares of 5p each in the Company ("Ordinary Shares") with an exercise price of 402.5 pence per Ordinary Share (the "Option Awards"). The following Option Awards were granted to Directors:

Director

Number of Ordinary Shares subject to Option 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 Option Awards over a total of 110,000 Ordinary Shares.

The Option 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

01354692391

Roger McDowell, Chairman

Steve McQuillan, Chief Executive Officer Stephen King,ChiefFinancialOfficer

Singer Capital Markets(NominatedAdviser)

02074963000

Shaun Dobson

Alex Bond

Oliver Platts

Rachel Hayes

 

IFC Advisory Ltd

020 3934 6630

Graham Herring

Tim Metcalfe

Zach Cohen

 

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 - Rochester Hills, 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

 

Composite Products Ltd - Buckingham, UK

Centre for composite technology, parts and assemblies, serving customers in industrial markets.

 

Magnetica Ltd - Brisbane, Australia

Magnetica Limited specialises in the development of next generation MRI technologies, including dedicated extremity MRI systems and MRI system components. Magnetica has successfully built and tested a compact, integrated 3 Tesla orthopaedic MRI system, demonstrating clinical-quality imaging. Commercialisation of this system (and others) is on-going. Magnetica's structure now includes two other business units:

 

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)

402.5 pence

180,000

 

 

 

d)

 

Aggregated information

n/a

 

 

- Aggregated volume

 

 

 

- Price

 

 

 

e)

 

Date of the transaction 

29 Nove m ber 2021

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)

402.5  pence

160,000

 

 

 

d)

 

Aggregated information

 

 

 

- Aggregated volume

N/A

 

 

- Price

N/A

 

 

e)

 

Date of the transaction

 

29 Nove mber  2021

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)

402.5 pence

110,000

 

 

 

d)

 

Aggregated information

n/a

 

 

- Aggregated volume

 

 

 

- Price

 

 

 

e)

 

Date of the transaction 

29 Nove m ber 2021

f)

 

Place of the transaction

Off market

 

 

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