Last checked at 30 Aug 2017 17:30
Avingtrans plc
("Avingtrans" or the "Company")
Result of High Court Hearing & Total Voting Rights
Avingtrans plc (AIM: AVG) announces that, in connection with the proposed acquisition of Hayward Tyler Group plc ("HTG") to be effected by means of a scheme of arrangement under Part X of the Companies Act 2006 of the Isle of Man (the "Scheme"), at the High Court Hearing held earlier today the Scheme was duly sanctioned.
The Scheme will therefore become effective tomorrow, 31 August 2017, with cancellation and readmission of the Company's enlarged share capital to trading on AIM expected to take place at 8.00 a.m. on 1 September 2017 ("Admission"). The Company confirms that 11,533,513 new ordinary shares in the capital of Avingtrans (the "Ordinary Shares") have been issued and allotted, conditional on Admission, to HTG shareholders in connection with the Scheme.
Following Admission, the Company will have a total of 30,704,636 Ordinary Shares in issue. Avingtrans does not hold any Ordinary Shares in treasury and therefore following Admission, the total number of voting rights in Avingtrans will be 30,704,636. This figure of 30,704,636 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, Avingtrans under the FCA's Disclosure Guidance and Transparency Rules.
Enquiries:
Avingtrans plc Roger McDowell, Chairman Steve McQuillan, Chief Executive Officer Stephen King, Chief Financial Officer | 01354 692391 |
N+1 Singer (Nominated Adviser) Shaun Dobson Richard Lindley Lauren Kettle | 020 7496 3000 |
Newgate (Financial PR) Adam Lloyd / Ed Treadwell | 020 7653 9850 |
About Avingtrans plc:
Avingtrans is engaged in the provision of highly engineered components, systems and services to the energy, medical, industrial and traffic management industries worldwide.
Energy and Medical
Stainless Metalcraft Ltd - Chatteris, UK and Chengdu, China |
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.
Maloney Metalcraft Ltd - Aldridge, UK |
Designs, manufactures and services oil and gas extraction and processing equipment, including process plant for dehydration, sweetening, drying and compression.
Crown International Ltd - Portishead, UK |
Designs and manufactures market-leading pole and support systems for roadside signage and safety cameras, rail track signalling and gantries.
Composite Products Ltd - Buckingham, UK Centre for composite technology, parts and assemblies, serving customers in industrial markets.
Scientific Magnetics - Abingdon, UK |
Designs and manufactures superconducting magnet systems and associated cryogenic systems for a variety of markets. |