EXECUTIVE CHANGE AND DIRECTOR'S DEALING
Via RNS and SGXNET
AVATION PLC
("Avation" or "the Company")
EXECUTIVE CHANGE AND DIRECTOR'S DEALING
Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company has been advised that, Roderick Douglas Mahoney, a director, has sold 148,667 ordinary shares in the capital of the Company on market for a price in aggregate of 115.19 pence per share. Following the sale of shares, Mr Mahoney's holding of ordinary shares in the Company will be 708,000 which represents approximately 1.02 per cent. of the issued share capital.
EXECUTIVE CHANGE
The Company announces that Mr Mahoney has now retired as an executive of the Company. However, he will continue to serve the shareholders as a non-executive director of the Company. Mr Mahoney retains his remaining staff warrants for ordinary shares and will continue with the relevant board committees and other board duties.
Executive Chairman, Jeff Chatfield, said, "Rod Mahoney has spent 11 years with the Company and is now retiring from an executive role after a career spanning 40 years in the airline industry. He will remain as board member. Rod's contribution, energy and enthusiasm has been greatly appreciated by all in the Company and his airline marketing skills have been consistently impressive. We thank Rod for his contribution to Avation over the last 11 years. Rod first became involved with the Company during the establishment by Skywest Airlines of the Australian ATR 72 network and was instrumental in establishing the ATR framework agreement and sales contract that has delivered over the last ten years 38 ATR 72 aircraft with 2 firm aircraft and 28 purchase rights remaining on order."
Mr Chatfield went on to say, "In his role as a director, Rod's continued advice will be a valuable contribution to renewed growth and the continuing success of Avation.
"The Chief Commercial Officer's role at Avation is now with the capable and experienced Soeren Ferre."
-ENDS -
Enquiries:
Avation PLC - Jeff Chatfield, Executive Chairman +65 6252 2077
Avation welcomes shareholder questions and comments and advises the email address for questions is: investor@avation.net and the Company provides an investor Q & A during the conference call associated with release of results. The head office telephone number is +65 62522077.
Notes to Editors: Avation PLC is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to airlines around the world. More information on Avation is available at www.avation.net .
Market Abuse Regulation (Mar) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.
Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCAs") with them.
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1. |
Details of the PDMR / person closely associated |
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a) |
Name |
Roderick Douglas Mahoney |
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2. |
Reason for the notification |
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a) |
Position / status |
Director |
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b) |
Initial notification / amendment |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Avation PLC |
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b) |
LEI |
213800KA972GUP1B6I78 |
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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 |
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a) |
Description of the financial instrument, type of instrument Identification code |
Ordinary shares of £0.01 each GB00B196F554 (ISIN) |
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b) |
Nature of the transaction |
Sale of ordinary shares on market
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information |
See above |
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- Aggregated volume |
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- Price |
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e) |
Date of the transaction |
25 January 2023 |
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f) |
Place of the transaction |
London Stock Exchange |
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