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14 Dec 2012 15:25
AVINGTRANS PLC - Exercise of OptionsAVINGTRANS PLC - Exercise of Options
PR Newswire
London, December 14
Avingtrans (AIM:AVG), a manufacturer of critical components and associatedservices to the global aerospace, energy and medical sectors announces that itwas notified on 14 December 2012 of the transactions described below in theordinary shares of the Company.
On 14 December 2012, the Company was notified of the exercise of 598,820options over ordinary shares of 5p each in the Company ("Ordinary Shares") todirectors and senior managers, of which 563,820 options have an exercise priceof 35 pence and 35,000 options have an exercise price of 60.5 pence.
Details of the exercise of options by certain directors of the Company, thesale of shares by Peter Kenny, and the subsequent beneficial holdings of suchdirectors following these transactions is set out below:
Director Number of Options Number of Options Beneficial interest exercised at 35p Sold in Ordinary Shares after the transaction Stephen McQuillan 85,000 - 150,000 Stephen King 85,000 - 135,000 Peter Kenny 60,000 60,000 40,000Peter Kenny sold the 60,000 Ordinary Shares at a price of 90 pence per share.
Pursuant to the above transactions, Avingtrans announces that 598,820 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 20 December2012. 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 26,629,397 Ordinary Shares. Avingtrans does not hold anyOrdinary Shares in treasury. Therefore, the total number of voting rights inAvingtrans is 26,629,397.
The above figure 26,629,397 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 0115949 9020Steve McQuillan, CEOStephen 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 RoystonAbout AvingtransAvingtrans plc is engaged in the provision of highly engineered components and 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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