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4 Jul 2016 13:16
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Exercise of Share Options
Avingtrans (AIM:AVG), a manufacturer of critical components and associated services to the global aerospace, energy and medical sectors announces it was notified on 1 July 2016 of the transactions described below in the ordinary shares of the Company by the directors.
On 1 July 2016, the Company was notified of the vesting and exercise of certain option awards over ordinary shares of 5p each in the Company ("Ordinary Shares") in the Executive Shared Ownership Plan ("the ExSOP "). The option awards were issued to the directors in December 2012 and the vesting criteria, being growth in adjusted basic earnings per share equalling the increase in the retail price index over the three year vesting period, has been achieved.
Details of the exercise of options by Steve McQuillan and Stephen King and the subsequent beneficial holdings of each director following the transactions are set out below:
Director | Number of Options | Number of Ordinary Shares which have vested to each Director
| Beneficial interest in Ordinary Shares after the transaction | Percentage interest in Ordinary Shares after the transaction |
Steve McQuillan | 145,000 | 71,141 | 431,707 | 1.55% |
Stephen King | 95,000 | 44,157 | 360,495 | 1.30% |
For further information, please contact:
Enquiries:
Avingtrans plc Steve McQuillan, CEO Stephen King, CFO
| 0115 949 9020 |
Numis Securities LimitedTom Ballard (Corporate Broking) Richard Thomas (Corporate Finance and Nominated Adviser)
| 020 7260 1000 |
Newgate(Financial PR)Adam LloydEd Treadwell | 020 7653 9850 |
About Avingtrans
Avingtrans plc is engaged in the provision of highly engineered components, systems and services to the energy, medical and traffic management industries worldwide. |
Energy and medical, engaged in the design and manufacture of safety critical equipment for the energy, medical, science and research communities, including oil and gas extraction and processing equipment, nuclear process plant, machined and fabricated pressure and vacuum vessels and components. Also, design and manufacture of fabricated poles and cabinets for roadside safety cameras and rail track signalling.
The strategy of the group, is to "buy and build" in regulated engineering niche markets, where we can see potential consolidation opportunities, which can lead to significantly increased shareholder value over the medium to long term.
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