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20 Mar 2013 10:45
AVINGTRANS PLC - Exercise of OptionsAVINGTRANS PLC - Exercise of Options
PR Newswire
London, March 20
Avingtrans (AIM:AVG), a manufacturer of critical components and associatedservices to the global aerospace, energy and medical sectors announces that itwas notified on 19 March 2013 of the transactions described below in theordinary shares of the Company.
On 19 March 2013, the Company was notified of the exercise of 90,000 optionsover ordinary shares of 5p each in the Company ("Ordinary Shares") to directorsand senior managers, of which 50,000 options have an exercise price of 40.0pence and 40,000 options have an exercise price of 35.0 pence.
Details of the exercise of options by Stephen King a director of the Company,the sale of shares and the subsequent beneficial holdings of such directorfollowing the transactions set out below:
Director Number of Options Number of Ordinary Beneficial interest exercised at 40p Shares Sold in Ordinary Shares after the transaction Stephen King 50,000 10,000 175,000 Stephen King sold the 10,000 Ordinary Shares at a price of 95 pence per share.Pursuant to the above transactions, Avingtrans announces that 90,000 ordinaryshares of 5p each in the Company have been allotted. Application has been madeto the London Stock Exchange for the new ordinary shares to be admitted totrading on AIM and it is expected that admission will take place on 26 March2013. The new ordinary shares will rank pari passu with the existing shares ofthe Company.
Subsequent to issue of the Ordinary Shares as above, the Company's total issuedshare capital is 27,049,397 Ordinary Shares. Avingtrans does not hold anyOrdinary Shares in treasury. Therefore, the total number of voting rights inAvingtrans is 27,049,397.
The above figure 27,049,397 may be used by shareholders as the denominator forthe calculations by which they will determine if they are required to notifytheir interest in, or a change to their interest in, Avingtrans under the FSA'sDisclosure and Transparency Rules.
Enquiries: Avingtrans plc 0115 949 9020 Steve McQuillan, CEO Stephen King, CFONumis 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 Heather Armstrong About AvingtransAvingtrans plc is engaged in the provision of highly engineered componentsand 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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