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24 Oct 2013 12:00
24 October 2013
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Director Dealings: exercise of share options
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 24 October 2013 of the transactions described below in the ordinary shares of the Company.
On 24 October 2013, the Company was notified of the exercise of 75,000 options over ordinary shares of 5p each in the Company ("Ordinary Shares") to directors, of which 75,000 options have an exercise price of 39.5 pence and 25,000 options have an exercise price of 60.5 pence.
Details of the exercise of options by Steve Mcquillan and Stephen King and the subsequent beneficial holdings of each director following the transactions is set out below:
Director | Number of Options exercised at 39.5p | Number of Options exercised at 60.5p | Beneficial interest in Ordinary Shares after the transaction |
Steve Mcquillan | 50,000 | - | 200,000 |
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Stephen King | - | 25,000 | 200,000 |
Pursuant to the above transactions, Avingtrans announces that 75,000 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 30 October 2013. 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 27,313,564 Ordinary Shares. Avingtrans does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in Avingtrans is 27,313,564.
The above figure 27,313,564 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
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