Via RNS and SGXNET
AVATION PLC
("Avation" or "the
Company")
WARRANT GRANT AND DIRECTORS'
DEALING
Avation PLC (LSE: AVAP), the
commercial passenger aircraft leasing company advises that 620,000
share warrants have been granted to directors and other employees
of the Company as set out below.
The grant of warrants is pursuant to
the authorities and powers given by shareholders at the Company's
last annual general meeting. The warrants have been granted subject
to the Company's Remuneration Policy as long-term incentives. The
warrants were granted by the board at an exercise price of
118 pence per share, and
each warrant grant is on terms that one third of the warrants will
vest at the end of each of the first three years from the date of
grant but subject always to clawback under the terms of the
Company's Remuneration Policy. The warrants are otherwise granted
on customary terms for employee share remuneration.
Details of the warrants granted to
directors of the Company are as follows:
|
Director
|
No. of
Warrants
being issued
|
Total no. of
Warrants held
including this issue*
|
Shareholding upon
exercise of total number of Warrants
held
|
% of issued share
capital upon
exercise of Warrants
|
|
Robert
Jeffries
Chatfield
|
495,000
|
3,225,000
|
15,455,001
|
18.22%
|
|
Mark Stephen
Shelton
|
25,000
|
118,000
|
141,500
|
0.17%
|
*Warrants are held at different
exercise prices
A further 100,000 warrants have been
granted to other staff members on the same terms, with a three-year
vesting period (the first tranche vesting on the anniversary of the
date of grant) and the same exercise price.
Warrants in Issue
Following the above issue of
Warrants, the total number of Warrants in issue to staff is
8,130,000. There are also 5,857,408
bondholder listed warrants (under code: AVAW.L). Assuming full
exercise of all staff and bondholder warrants, this equates
to 16.49% of the issued capital on exercise
of warrants.
Share Capital and Voting
Rights
There are 70,883,124 ordinary shares
of the Company in issue. The Company currently holds 30,000
ordinary shares in treasury. Accordingly, there are 70,853,124
total voting rights for the purpose of calculating shareholders'
percentage voting rights.
Market Abuse Regulation (MAR)
Disclosure
The information contained within
this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication
of this announcement via Regulatory Information Service ('RIS'),
this inside information is now considered to be in the public
domain.
-ENDS-
Enquiries:
Avation PLC - Jeff Chatfield,
Executive
Chairman
+65 6252 2077
Avation welcomes shareholder
questions and comments and advises the email address is:
investor@avation.net
Notes to Editors: Avation PLC
is an aircraft leasing company, headquartered in Singapore, owning
and managing a fleet of commercial passenger aircraft which it
leases to airlines around the world. More information on Avation is
available at www.avation.net.
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
|
|
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 instrument
Identification code
|
Warrants to subscribe for ordinary
shares
N/A
|
|
b)
|
Nature of the transaction
|
Grant of warrants to subscribe for
ordinary shares
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
495,000
|
|
|
d)
|
Aggregated information
|
See above
|
|
|
- Aggregated
volume
|
|
|
|
- Price
|
|
|
e)
|
Date of the transaction
|
13 March 2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange
|
|
1.
|
Details of the PDMR / person closely
associated
|
|
a)
|
Name
|
Mark Stephen Shelton
|
|
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
Identification code
|
Warrants to subscribe for ordinary
shares
N/A
|
|
b)
|
Nature of the transaction
|
Grant of warrants to subscribe for
ordinary shares
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
25,000
|
|
|
d)
|
Aggregated information
|
See above
|
|
|
- Aggregated
volume
|
|
|
|
- Price
|
|
|
e)
|
Date of the transaction
|
13 March 2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange
|