Avingtrans Regulatory News (AVG)

16 Mar 2006 07:00

Avingtrans PLC16 March 2006 Avingtrans plcDirector Shareholding16 March 2006 Avingtrans plc ("Avingtrans" or "the Company") announces that it was notified on15 March 2006 of the following transactions in the ordinary shares of theCompany made by Steven Lawrence, a director of the Company. On 15 March 2006, Mr Lawrence exercised 398,000 warrants over ordinary shares inthe Company at a price per warrant of 50 pence. These warrants had been issuedto him pursuant to the acquisition of the Jena Group, which was completed on 28June 2002. Also on 15 March, Mr Lawrence agreed to sell 148,000 ordinary sharesat a price per share of 147 pence following admission of the new ordinary sharesbeing admitted to AIM in order to pay costs associated with the exercise of thewarrants. The net change in Mr Lawrence's holding in ordinary shares in theCompany as a result of these transactions is an increase of 250,000 ordinaryshares. Following the above described transaction, Steve Lawrence holds 250,000 ordinaryshares in the Company, representing 1.62% of the enlarged issued share capitalof the Company. In addition, Mr Lawrence holds 112,000 warrants, which may vestdependent on the Company's earnings per share for the year to 31 May 2006, and75,000 share options. Pursuant to the above described exercise of warrants by Mr Lawrence, Avingtransannounces that 398,000 ordinary shares of 5p each in the Company have beenallotted. Application has been made to the London Stock Exchange for the newordinary shares to be admitted to Alternative Investment Market and it isexpected that admission will take place on 21 March 2006. The new ordinaryshares will rank pari passu with the existing shares of the Company. Followingthe allotment the total issued share capital of the Company has increased to15,432,086 ordinary shares. This information is provided by RNS The company news service from the London Stock Exchange