Last checked at 21 Mar 2024 17:15
21 March 2024
Avingtrans Plc
("Avingtrans", the "Company", or the "Group")
Exercise of Options, PDMR Dealings and Total Voting Rights
Avingtrans plc (AIM: AVG), which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, announces transactions involving its shares by certain PDMRs and other employees pursuant to the Company Share Option plan ("CSOP").
On 20 March 2024, the Company was notified of the exercise of 192,400 CSOP options over ordinary shares of 5p each in the Company ("Ordinary Shares") pursuant to the Company's FY 2019 CSOP and FY 2020 CSOP.
Details of the exercise of options by PDMRs, together with subsequent beneficial holdings of each individual following the transactions, are set out below:
PDMR / Role | CSOP options exercised | Beneficial interest in Ordinary Shares following the transactions | Resulting percentage holding of Enlarged Total Voting Rights held |
Stephen King (CFO) | 10,400 | 417,338 | 1.27% |
Austen Adams (MD, Process Solutions & Rotating Equipment) | 110,000 | 263,135 | 0.80 |
Issue of Equity
Application has been made for the admission to trading on AIM for the 192,400 new Ordinary Shares ("Admission"). It is expected that Admission will become effective on 26 March 2024.
Total Voting Rights
Following the issue of the 192,400 new Ordinary Shares, the Company will have a total of 33,089,922 Ordinary Shares in issue. The Company does not hold any shares in Treasury.
The above figure 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, the Company under the FCA's Disclosure Guidance and Transparency Rules.
The above information is provided by the Company in accordance with its obligations under the FCA's Disclosure Guidance and Transparency Rules.
ENDS
Enquiries:
Avingtrans plc Les Thomas, Interim Chairman Steve McQuillan, Chief Executive Officer Stephen King, Chief Financial Officer
| 01354 692391 |
Singer Capital Markets (Nominated Adviser and Broker) Shaun Dobson Alex Bond Oliver Platts
| 02074 963000 |
IFC Advisory (Financial PR) Graham Herring Tim Metcalfe Zach Cohen | 020 3934 6630 |
About Avingtrans plc:
Avingtrans designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy, medical and industrial markets worldwide.
Business units
Hayward Tyler - Luton, East Kilbride & Nottingham, UK, USA, China and India Specialises in the design, manufacture and servicing of performance-critical motors and pumps for challenging environments. Energy Steel, Inc - Rochester Hills, Michigan, USA Provider of custom fabrications for the nuclear industry, specialising in: OEM parts obsolescence; custom fabrications; engineering design solutions; product refurbishment; on-site technical support. Stainless Metalcraft Ltd - Chatteris, UK Provider of safety-critical equipment for the energy, medical, science and research communities, worldwide, specialising in precision pressure and vacuum vessels and associated fabrications, sub-assemblies and systems. Booth Industries - Bolton, UK Designs, manufactures, installs and services doors and walls which can be tailored to be: blast and explosion proof; fireproof; acoustically shielded; high security/safety; or combinations of the above. Ormandy Group - Bradford, UK Design, manufacturers and servicing of off-site plant, heat exchangers and other HVAC (heating, ventilation and air conditioning) products. Composite Products Ltd - Buckingham, UK Centre for composite technology, parts and assemblies, serving customers in industrial markets. Adaptix Ltd - Oxford, UK Adaptix has developed novel 3D X-ray for Orthopaedic and Veterinary applications amongst others. Commercialisation of this system (and others) is on-going.
Magnetica Ltd - Brisbane, Australia Magnetica Limited specialises in the development of next generation MRI technologies, including dedicated extremity MRI systems and MRI system components. Magnetica has successfully built and tested a compact, integrated 3 Tesla orthopaedic MRI system, demonstrating clinical-quality imaging. Commercialisation of this system (and others) is on-going. Magnetica's structure now includes two other business units: Scientific Magnetics - Abingdon, UK Designs and manufactures superconducting magnet systems and associated cryogenics for a variety of markets including MRI and provides services for Nuclear Magnetic Resonance instruments. Tecmag Inc - Houston, USA Designs, manufactures and installs instrumentation, including consoles, system upgrades, and probes, mainly for Magnetic Resonance Imaging (MRI) and Nuclear Magnetic Resonance (NMR) systems.
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