Last checked at 21 Dec 2016 13:59
21 December 2016
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Share Incentive Awards
Avingtrans plc announces that the Company has today, under the terms of the Company's CSOP share scheme (the "CSOP"), made grants of awards over ordinary shares of 5p each in the Company ("Ordinary Shares") to Directors and senior managers, as set out below.
Awards under the CSOP
On 21December 2016, the Board of Avingtrans, in accordance with the Company's CSOP, granted options over 200,750 Ordinary Shares with an option price of 193 pence per Ordinary Share to the following Directors of the Company.
Director | Number of Ordinary Shares subject to CSOP awards |
Steve McQuillan | 15,250 |
Stephen King | 15,250 |
All of the options granted may not be exercised until 3 years from the date of grant and are subject to a performance condition. The performance condition for each of these options is that the increase in adjusted EPS must be at least equal to the increase in RPI over the vesting period.
Enquiries:
Avingtrans plc Steve McQuillan, CEO Stephen King, CFO
| 0135 469 2391 |
N+1 Singer Shaun Dobson Lauren Kettle
| 020 7496 3000 |
Newgate (Financial PR) Adam Lloyd Ed 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.
EU Market Abuse Regulation
The notifications set out below are provided in accordance with the requirements of the EU MarketAbuse Regulation.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||
a) | Name | Steve McQuillan | ||||||||||
2 | Reason for the notification | |||||||||||
a) | Position/status | CEO | ||||||||||
b)
| Initial notification /Amendment | Initial | ||||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||
a) | Name | Avingtrans plc | ||||||||||
b) | LEI | n/a | ||||||||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||||||
a)
| Description of the financial instrument, type of instrument
| Share options over ordinary shares of 5p each in the Company granted under the CSOP share scheme
| ||||||||||
Identification Code | GB0009188797 | |||||||||||
b) | Nature of the transaction | Grant of share options
| ||||||||||
c) | Price(s) and volume(s)
|
| ||||||||||
d) | Aggregated information - Aggregated volume - Price |
n/a - single transaction | ||||||||||
e) | Date of the transaction | 21 December 2016
| ||||||||||
f) | Place of the transaction | Off-market transaction | ||||||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||
a) | Name | Stephen King | ||||||||||
2 | Reason for the notification | |||||||||||
a) | Position/status | CFO | ||||||||||
b)
| Initial notification /Amendment | Initial | ||||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||
a) | Name | Avingtrans plc | ||||||||||
b) | LEI | n/a | ||||||||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||||||
a)
| Description of the financial instrument, type of instrument
| Share options over ordinary shares of 5p each in the Company granted under the CSOP share scheme
| ||||||||||
Identification Code | GB0009188797 | |||||||||||
b) | Nature of the transaction | Grant of share options
| ||||||||||
c) | Price(s) and volume(s)
|
| ||||||||||
d) | Aggregated information - Aggregated volume - Price |
n/a - single transaction | ||||||||||
e) | Date of the transaction | 21 December 2016
| ||||||||||
f) | Place of the transaction | Off-market transaction | ||||||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||
a) | Name | Austen Adams | ||||||||||
2 | Reason for the notification | |||||||||||
a) | Position/status | Managing Director, Energy & Medical Division (PDMR) | ||||||||||
b)
| Initial notification /Amendment | Initial | ||||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||
a) | Name | Avingtrans plc | ||||||||||
b) | LEI | n/a | ||||||||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||||||
a)
| Description of the financial instrument, type of instrument
| Share options over ordinary shares of 5p each in the Company granted under the CSOP share scheme
| ||||||||||
Identification Code | GB0009188797 | |||||||||||
b) | Nature of the transaction | Grant of share options
| ||||||||||
c) | Price(s) and volume(s)
|
| ||||||||||
d) | Aggregated information - Aggregated volume - Price |
n/a - single transaction
| ||||||||||
e) | Date of the transaction | 21 December 2016
| ||||||||||
f) | Place of the transaction | Off-market transaction | ||||||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||
a) | Name | Chris Lewis-Jones | ||||||||||
2 | Reason for the notification | |||||||||||
a) | Position/status | Finance Director, Energy & Medical Division (PDMR) | ||||||||||
b)
| Initial notification /Amendment | Initial | ||||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||
a) | Name | Avingtrans plc | ||||||||||
b) | LEI | n/a | ||||||||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||||||
a)
| Description of the financial instrument, type of instrument
| Share options over ordinary shares of 5p each in the Company granted under the CSOP share scheme
| ||||||||||
Identification Code | GB0009188797 | |||||||||||
b) | Nature of the transaction | Grant of share options
| ||||||||||
c) | Price(s) and volume(s)
|
| ||||||||||
d) | Aggregated information - Aggregated volume - Price |
| ||||||||||
e) | Date of the transaction | 21 December 2016
| ||||||||||
f) | Place of the transaction | Off-market transaction | ||||||||||