TIDMAVAP
RNS Number : 0785S
Avation PLC
12 March 2021
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR
RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY
OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW
ZEALAND, JAPAN, SOUTH AFRICA OR IN OR INTO ANY OTHER JURISDICTION
WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY
APPLICABLE LAW OR REGULATION.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMATION,
OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE
OR DISPOSE OF ANY SECURITIES IN AVATION PLC OR ANY OTHER ENTITY IN
ANY SUCH JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION (EU NO.
596/2014) AS IT FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018 ("UK MAR").
12 March 2021
Avation plc
Result of Placing and Subscription
Further to the announcement yesterday in relation to a proposed
placing and subscription of ordinary shares, Avation PLC (LSE:
AVAP) (the "Company" or "Avation"), the commercial passenger
aircraft leasing company, is pleased to announce that it has
successfully placed 6,118,182 new ordinary shares of 1 pence each
(the "Placing Shares") with institutional and professional
investors at a price of 110 pence per share (the "Issue Price") via
an accelerated bookbuild (the "Placing"). WH Ireland Limited ("WH
Ireland") and Canaccord Genuity Limited ("Canaccord Genuity") acted
as joint bookrunners and joint brokers in connection to the Placing
(together, the "Joint Brokers"). The Placing has raised gross
proceeds of GBP6.73 million. Additionally, a total of 700,000 new
ordinary shares each has been subscribed for in the Company (the
"Subscription Shares") at the Issue Price, by Directors, employees
and other investors (the "Subscription"). The Subscription raised
gross proceeds of GBP770,000. Together the Placing and Subscription
has raised gross proceeds of GBP7.5 million
500,000 Subscription Shares have been placed with certain
Directors of the Company at the Issue Price. The total gross
proceeds of such Director participation will be GBP550,000.
The Issue Price represents a discount of approximately 10.2 per
cent. to the middle market closing price on 11 March 2021. The
Placing Shares and Subscription Shares being issued represent, in
aggregate, approximately 10.5 per cent. of Avation's issued
ordinary share capital prior to the Placing and Subscription.
Application will be made to the Financial Conduct Authority
("FCA") for admission of the Placing Shares and Subscription Shares
to the standard listing segment of the Official List and to the
London Stock Exchange for admission to trading of the Placing
Shares and Subscription Shares on its Main Market for listed
securities (together "Admission"). It is expected that Admission
will become effective at 8.00 a.m. on 18 March 2021 and that
dealings in the Placing Shares and Subscription Shares will
commence at the same time. The Placing Shares and Subscription
Shares will, when issued, be credited as fully paid and will rank
pari passu in all respects with the existing ordinary shares,
including the right to receive all dividends and other
distributions declared, made or paid on or in respect of such
shares after the date of issue.
Following Admission, the total number of shares of the Company
in issue will be 71,698,124, of which 2,210,000 ordinary shares are
held in treasury and the total number of voting shares in the
Company will be 69,488,124. This 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
and Transparency Rules.
PDMR participation in the Subscription
Certain PDMRs of the Company have agreed to participate in the
Subscription for Subscription Shares at the Issue Price, as set out
below:
Name Number of Shares
------------------------------- -----------------
Robert Jeffries Chatfield (by
way of Epsom Assets Ltd) 360,000
Dr Stephen Fisher 20,000
Roderick Mahoney 100,000
Derek Sharples 20,000
Capitalised terms used but not defined in this announcement have
the same meanings as set out in the placing announcement of the
Company released at 4:36pm on 11 March 2021.
[S]
Enquiries:
Avation plc
Jeff Chatfield (Executive Chairman) Tel: +65 6252 2077
WH Ireland Limited (Joint Broker) Tel: +44 (0)20 7220
1666
Harry Ansell / Daniel Bristowe / James
Joyce
Canaccord Genuity (Joint Broker) Tel: +44 (0)20 7523
8000
Bobbie Hilliam / Sam Lucas
The information set out below is provided in accordance with the
requirements of UK MAR and Article 19(3) of the EU Market Abuse
Regulation No 596/2014 (as incorporated into UK MAR).
Notification and public disclosure of transactions by persons
discharging managerial responsibilities ("PDMRs") and persons
closely associated ("PCAs") with them.
1. Details of the PDMR / person closely associated
a) Name Robert Jeffries Chatfield (by way of Epsom Assets Ltd
a company in which he holds a beneficial
interest)
-------------------------------------------------------- -------------------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position / status Executive Chairman
-------------------------------------------------------- -------------------------------------------------------
b) Initial notification / amendment Initial notification
-------------------------------------------------------- -------------------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------------------------------------------------------
a) Name Avation plc
-------------------------------------------------------- -------------------------------------------------------
b) LEI 213800KA972GUP1B6I78
-------------------------------------------------------- -------------------------------------------------------
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 Ordinary Shares of 1 pence
instrument GB00B196F554
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Purchase of Ordinary Shares in Subscription
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
110 pence 360,000
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information See above
* Aggregated volume
* Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 12 March 2021
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction London Stock Exchange
-------------------------------------------------------- -------------------------------------------------------
1. Details of the PDMR / person closely associated
a) Name Stephen John Fisher
------------------------------------------------------------ --------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------------------------------------------
a) Position / status Non-Executive Director
------------------------------------------------------------ --------------------------------------------
b) Initial notification / amendment Initial notification
------------------------------------------------------------ --------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
----------------------------------------------------------------------------------------------------------
a) Name Avation plc
------------------------------------------------------------ --------------------------------------------
b) LEI 213800KA972GUP1B6I78
------------------------------------------------------------ --------------------------------------------
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 Ordinary Shares of 1 pence
Identification code GB00B196F554
------------------------------------------------------------ --------------------------------------------
b) Nature of the transaction Purchase of Ordinary Shares in Subscription
------------------------------------------------------------ --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
110 pence 20,000
------------------------------------------------------------ --------------------------------------------
d) Aggregated information See above
* Aggregated volume
* Price
------------------------------------------------------------ --------------------------------------------
e) Date of the transaction 12 March 2021
------------------------------------------------------------ --------------------------------------------
f) Place of the transaction London Stock Exchange
------------------------------------------------------------ --------------------------------------------
1. Details of the PDMR / person closely associated
a) Name Roderick Douglas Mahoney
------------------------------------------------------------ --------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------------------------------------------
a) Position / status Executive Director
------------------------------------------------------------ --------------------------------------------
b) Initial notification / amendment Initial notification
------------------------------------------------------------ --------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
----------------------------------------------------------------------------------------------------------
a) Name Avation plc
------------------------------------------------------------ --------------------------------------------
b) LEI 213800KA972GUP1B6I78
------------------------------------------------------------ --------------------------------------------
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 Ordinary Shares of 1 pence
Identification code GB00B196F554
------------------------------------------------------------ --------------------------------------------
b) Nature of the transaction Purchase of Ordinary Shares in Subscription
------------------------------------------------------------ --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
110 pence 100,000
------------------------------------------------------------ --------------------------------------------
d) Aggregated information See above
* Aggregated volume
* Price
------------------------------------------------------------ --------------------------------------------
e) Date of the transaction 12 March 2021
------------------------------------------------------------ --------------------------------------------
f) Place of the transaction London Stock Exchange
------------------------------------------------------------ --------------------------------------------
1. Details of the PDMR / person closely associated
a) Name Derek Sharples
------------------------------------------------------------ --------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------------------------------------------
a) Position / status Non-Executive Director
------------------------------------------------------------ --------------------------------------------
b) Initial notification / amendment Initial notification
------------------------------------------------------------ --------------------------------------------
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
----------------------------------------------------------------------------------------------------------
a) Name Avation plc
------------------------------------------------------------ --------------------------------------------
b) LEI 213800KA972GUP1B6I78
------------------------------------------------------------ --------------------------------------------
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 Ordinary Shares of 1 pence
Identification code GB00B196F554
------------------------------------------------------------ --------------------------------------------
b) Nature of the transaction Purchase of Ordinary Shares in Subscription
------------------------------------------------------------ --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
110 pence 20,000
------------------------------------------------------------ --------------------------------------------
d) Aggregated information See above
* Aggregated volume
* Price
------------------------------------------------------------ --------------------------------------------
e) Date of the transaction 12 March 2021
------------------------------------------------------------ --------------------------------------------
f) Place of the transaction London Stock Exchange
------------------------------------------------------------ --------------------------------------------
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END
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