Issue of Equity on exercise of Warrants by Dire...
October 27, 2010
AVATION PLC
("AVATION" or "THE COMPANY")
Issue of Equity on exercise of Warrants by Director
The board of Avation announces that on the 26th of October 2010, the Company issued and allotted
2,313,210 FULLY PAID NEW ORDINARY SHARES pursuant to the exercise by Epsom Assets Ltd, a company
in which Mr Chatfield, a director and chairman of Avation has a beneficial interest. The exercise
prices per share were 23,720 at 35.5 pence in respect to the 24th December 2009 series, 289,490 at
4p in respect to the 22nd December 2006 series and 2,000,000 at 4p in respect to the 30th October
2006 series.
As a consequence there are now a total of 28,532,220 shares in issue. The Directors interests are
now 25.9%. Mr Chatfield has a beneficial interest in 6,713,211 shares representing 23.5% of the
issued ordinary shares capital of the Company.
The Directors take responsibility for the contents of this announcement.
---ENDS---
ENQUIRES:
AVATION PLC 07783 942 553
Jeff Chatfield, Chairman
ADVISOR 020 7628 1128
Dr Frank Lucas, Loeb Aron & Company
MEDIA 020 7562 3350
Nick Rome
Bishopsgate Communications
For filings with the FSA include the annex
For filings with issuer exclude the annex
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i)
1. Identity of the issuer or the underlying issuer AVATION PLC
of existing shares to which voting rights are
attached: (ii)
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares
already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify): Exercise of warrants X
3. Full name of person(s) subject to the Robert Jeffries Chatfield
notification obligation: (iii)
4. Full name of shareholder(s) Not Applicable
(if different from 3.):(iv)
5. Date of the transaction and date on 26 October 2010
which the threshold is crossed or
reached: (v)
6. Date on which issuer notified: 27 October 2010
7. Threshold(s) that is/are crossed or Above 5%
reached: (vi, vii)
8. Notified details:
A: Voting rights attached to shares (viii, ix)
Class/type of Situation previous Resulting situation after the triggering transaction
shares to the triggering
transaction
if possible using
the ISIN CODE
Number Number Number Number of voting % of voting rights (x)
of of of shares rights
Shares Voting
Rights
Direct Direct (xi) Indirect (xii) Direct Indirect
Ordinary shares 4,400,001 4,400,001 1 1 6,713,210 0.0000035 23.5%
GB00B196F554
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date (xiii) Conversion Period (xiv) rights that may be rights
acquired if the
instrument is
exercised/ converted.
Not Applicable
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments (xv, xvi)
Resulting situation after the triggering transaction
Type of financial Exercise Expiration Exercise/ Number of voting rights % of voting rights (xix,
instrument price date (xvii) Conversion instrument refers to xx)
period (xviii)
Not Applicable Nominal Delta
Total (A+B+C)
Number of voting rights Percentage of voting rights
6,713,211 23.5%
9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: (xxi)
The warrants are exercised by Epsom Assets Ltd, a company in which Mr Chatfield, a director and Chairman of Avation PLC has
a beneficial interest.
Proxy Voting:
10. Name of the proxy holder: Not Applicable
11. Number of voting rights proxy holder will cease Not Applicable
to hold:
12. Date on which proxy holder will cease to hold Not Applicable
voting rights:
13. Additional information: Not Applicable
14. Contact name: Mr Peter Freeman
Ms Siobhan Cool/Ms Carissa Gina Tan*
15. Contact telephone number: +44(0) 207 6281128
+65 6252 2077*
Note: Annex should only be submitted to the FSA not the issuer
Annex: Notification of major interests in shares (xxii)
A: Identity of the persons or legal entity subject to the notification obligation
Full name Robert Jeffries Chatfield
(including legal form of legal entities)
Contact address c/o 510 Thomson Road #12-04
(registered office for legal entities) SLF Building
Singapore 298135
Phone number & email +44 778 394 2553
Other useful information Not Applicable
(at least legal representative for legal persons)
B: Identity of the notifier, if applicable
Full name Ms Siobhan Cool/Ms Carissa Gina Tan
Contact address 510 Thomson Road #12-04
SLF Building
Singapore 298135
Phone number & email
+65 6252 2077
Siobhan Cool - cool@advent.com.sg
Carissa Gina Tan - carissa.tan@advent.com.sg
Other useful information Siobhan Cool - Group Legal Counsel
(e.g. functional relationship with the person or legal Carissa Gina Tan - Company Secretary
entity subject to the notification obligation)
C: Additional information
Not Applicable
For notes on how to complete form TR-1 please see the FSA website.
Avation plc
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