Directors' Shareholdings, Issue of Equity, Voti...
AVINGTRANS PLC
("Avingtrans" or "the Company")
Directors' Shareholdings, Issue of Equity and Total Voting Rights
Avingtrans announces that the Company has today, under the terms of its
Executive Shared Ownership Plan ("the Share Plan"), made a grant of awards over
ordinary shares of 5p each in the Company ("Ordinary Shares") to directors and
senior managers, as below.
Director Number of Ordinary Beneficial interest in
Shares subject to awards Ordinary Shares
Stephen McQuillan 195,000 55,000
Stephen King 130,000 50,000
Peter Kenny 55,000 40,000
Furthermore, two senior managers have been granted awards over a total of
170,000 Ordinary Shares.
Consequently, application has been made for admission to trading on AIM of a
total of 550,000 Ordinary Shares ("Admission"). It is expected that Admission
will be effective from 27 September 2011.
Under the provisions of the Share Plan, shares are jointly owned between the
individuals above and by an employees' share trust, on terms, similar to a
share option scheme, whereby the participant can benefit only from the future
growth in the value of the Ordinary Shares above the closing market value of
the shares on the award date (being therefore the closing market value today,
26 September 2011) in excess of a carrying cost.
Awards are subject to performance conditions and participants may not normally
realise any such benefit before 26 September 2014.
Subsequent to issue of the Ordinary Shares as above, the Company's total issued
share capital is 26,030,577 Ordinary Shares. Avingtrans does not hold any
Ordinary Shares in treasury. Therefore, the total number of voting rights in
Avingtrans is 26,030,577.
The above figure 26,030,577 may be used by shareholders as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or a change to their interest in, Avingtrans under the FSA's
Disclosure and Transparency Rules.
Enquiries:
Avingtrans plc 0115 949 9020
Steve McQuillan, CEO
FinnCap 020 7600 1658
Marc Young / Henrik Persson - Corporate Finance
Brian Patient / Steve Norcross - Corporate Broking
Hansard 020 7245 1100
(Financial PR)
Nicholas Nelson / Guy McDougall
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