PDMR Dealings

RNS Number : 6077N

Avingtrans PLC

23 January 2023

 

23 January 2023

Avingtrans Plc

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

PDMR Dealings

Avingtrans PLC (AIM: AVG), which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, announces certain dealings by Austen Adams, Divisional MD of the Process Solutions & Rotating Equipment division, and a PDMR of the Company.

Sales of Shares

The Company was notified that today, Austen sold 33,860 ordinary shares of 5p each in the Company ("Ordinary Shares"), being an amount equal to the total number of Ordinary Shares which vested to him in respect of the FY 2019 ExSOP (as announced on 23 December 2022), at a price of 420p per Ordinary Share.

Purchase of Shares

Austen and his wife, Tracy Adams, subsequently purchased a total of 6,964 Ordinary Shares across their ISAs at a price of 430.55 pence per Ordinary Share.

As a result of the above activity, Austen's beneficial interest in the Company's issued share capital reduced to 153,135¹ Ordinary Shares, representing 0.47% of the Company's enlarged share capital.

¹ This figure includes 139,077 Ordinary Shares held by Tracey Adams.

Enquiries:

Avingtrans plc	01354 692391
Roger McDowell, Chairman Steve McQuillan, Chief Executive Officer Stephen King, Chief Financial Officer
Singer Capital Markets (Nominated Adviser and Broker)	02074 963000
Shaun Dobson Alex Bond Oliver Platts
IFC Advisory (Financial PR)	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	Austen Adams
2	Reason for the notification
a)	Position/status	MD within the Company's Process Solutions & Rotating Equipment
	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	Ordinary Shares of 5 pence each
	Identification code	ISIN: GB0009188797
b)	Nature of the transaction	Sale of Ordinary Shares
c)	Price(s) and volume(s)		Price(s) Volume(s) 420p 33,860
d)	Aggregated information	n/a
	- Aggregated volume
	- Price
e)	Date of the transaction	23 January 2023
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Austen Adams (including Tracy Adams, a PCA with Austen Adams)
2	Reason for the notification
a)	Position/status	MD within the Company's Process Solutions & Rotating Equipment
	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	Ordinary Shares of 5 pence each
	Identification code	ISIN: GB0009188797
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)		Price(s) Volume(s) 430.55p 6,964
d)	Aggregated information	n/a
	- Aggregated volume
	- Price
e)	Date of the transaction	23 January 2023
f)	Place of the transaction	London Stock Exchange

 

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