Exercise of Options
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Exercise of Share Options and Director Dealings
Avingtrans (AIM:AVG), a manufacturer of critical components and associated
services to the global aerospace, energy and medical sectors announces that it
was notified on 14 December 2012 of the transactions described below in the
ordinary shares of the Company.
On 14 December 2012, the Company was notified of the exercise of 598,820
options over ordinary shares of 5p each in the Company ("Ordinary Shares") to
directors and senior managers, of which 563,820 options have an exercise price
of 35 pence and 35,000 options have an exercise price of 60.5 pence.
Details of the exercise of options by certain directors of the Company, the
sale of shares by Peter Kenny, and the subsequent beneficial holdings of such
directors following these transactions is set out below:
Director Number of Options Number of Options Beneficial interest
exercised at 35p Sold in Ordinary Shares
after the
transaction
Stephen McQuillan 85,000 - 150,000
Stephen King 85,000 - 135,000
Peter Kenny 60,000 60,000 40,000
Peter Kenny sold the 60,000 Ordinary Shares at a price of 90 pence per share.
Pursuant to the above transactions, Avingtrans announces that 598,820 ordinary
shares of 5p each in the Company have been allotted. Application has been made
to the London Stock Exchange for the new ordinary shares to be admitted to
trading on AIM and it is expected that admission will take place on 20 December
2012. The new ordinary shares will rank pari passu with the existing shares of
the Company.
Subsequent to issue of the Ordinary Shares as above, the Company's total issued
share capital is 26,629,397 Ordinary Shares. Avingtrans does not hold any
Ordinary Shares in treasury. Therefore, the total number of voting rights in
Avingtrans is 26,629,397.
The above figure 26,629,397 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
Stephen King, CFO
Numis Securities Limited 020 7260 1000
David Poutney (Corporate Broking)
Richard Thomas (Corporate Finance and Nominated Adviser)
Newgate Threadneedle
020 7653 9850
(Financial PR)
Josh Royston
About Avingtrans
Avingtrans plc is engaged in the provision of highly engineered components
and services to the Aerospace, Energy and Medical markets worldwide.
The business is made up of 2 divisions:
• Aerospace, engaged in the manufacture of rigid pipe assemblies,
fabrications and prismatic components - both metallic and composite - for
the global aerospace market and precision polishing of aircraft components
and;
• Energy and medical, engaged in the manufacture of machined and fabricated
pressure and vacuum vessels and components for the energy, medical, science
and research communities. Plus, design and manufacture of fabricated poles
and cabinets for roadside safety cameras and rail track signalling.
•
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