TIDMAVG
RNS Number : 5663Z
Avingtrans PLC
18 December 2017
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Share Incentive Awards, Issue of Equity and TVR
Avingtrans plc announces that the Company has under the terms of
the Company's Executive Shared Ownership Plan (the "ExSOP") and
CSOP share scheme (the "CSOP") made grants of awards over ordinary
shares of 5p each in the Company ("Ordinary Shares") as set out
below.
Awards under the ExSOP
On 15 December 2017, the Board of Avingtrans, in accordance with
the Company's ExSOP, granted awards over 330,000 Ordinary Shares at
an option price of 181.5p. The following ExSOP awards were granted
to Directors and a PDMR, with each paying 0.1 pence for his
interest in each Ordinary Share subject to his ExSOP award:
Director Number of Ordinary Shares
subject to ExSOP awards
Steve McQuillan 140,000
Stephen King 110,000
Furthermore Austen Adams, Managing Director of the Group's
Energy & Medical Division and a PDMR of the Company, has been
granted ExSOP awards over a total of 80,000 Ordinary Shares.
Under the provisions of the ExSOP, Ordinary Shares are jointly
owned between the individuals above and by an employees' share
trust, on terms, similar to a share option scheme, whereby the
participant can benefit only from the future growth in the value of
the Ordinary Shares above the closing market value of the shares on
the award date (being therefore the closing market value on 15
December 2017) in excess of a carrying cost.
Awards are subject to a performance condition and participants
may not normally realise any such benefit before 15 December 2020.
The performance condition for each of the ExSOP awards is that the
increase in adjusted EPS must be at least equal to the increase in
RPI over the vesting period.
The awards under the ExSOP have been satisfied through the issue
of 330,000 new Ordinary Shares. Application has been made for
admission to trading on AIM for the 330,000 new Ordinary Shares
("Admission"). It is expected that Admission will be effective on
22 December 2017.
Subsequent to the issue of the new Ordinary Shares as above, the
Company's total issued share capital is 31,039,636 Ordinary Shares.
Avingtrans does not hold any Ordinary Shares in treasury.
Therefore, the total number of voting rights in Avingtrans is
31,039,636.
Awards under the CSOP
On 15 December 2017, the Board of Avingtrans, in accordance with
the Company's CSOP, granted options over 157,000 Ordinary Shares
with an option price of 177.5 pence per Ordinary Share.
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
James Browne 020 7653 9850
About Avingtrans
Avingtrans is engaged in the provision of highly engineered
components, systems and services to the energy, medical 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.
Hayward Tyler - Luton & East Kilbride, UK
and USA, China and India
Specialises in the design, manufacture and
servicing of performance-critical motors
and pumps in challenging environments
Peter Brotherhood - Peterborough, UK
Specialises in the design, manufacture and
servicing of performance-critical steam turbines,
turbo gen-sets, compressors, gear boxes and
combined heat and power systems
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
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.
EU Market Abuse Regulation
The notifications set out below are provided in accordance with
the requirements of the EU Market Abuse 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 Initial
/Amendment
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
a) Name Avingtrans plc
b) LEI 213800ZZ96CKPI423E86
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 Ordinary shares of 5p each
of the financial in the Company awarded under
instrument, the ExSOP share scheme
type of instrument
Identification GB0009188797
Code
b) Nature of Share award
the transaction
c) Price(s)
and volume(s)
Price(s) Volume(s)
0.1p 140,000
----------
d) Aggregated
information n/a - single transaction
- Aggregated
volume
- Price
e) Date of the 15 December 2017
transaction
f) Place of London Stock Exchange
the 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 Initial
/Amendment
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
a) Name Avingtrans plc
b) LEI 213800ZZ96CKPI423E86
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 Ordinary shares of 5p each
of the financial in the Company awarded under
instrument, the ExSOP share scheme
type of instrument
Identification GB0009188797
Code
b) Nature of Share award
the transaction
c) Price(s)
and volume(s)
Price(s) Volume(s)
0.1p 110,000
----------
d) Aggregated
information n/a - single transaction
- Aggregated
volume
- Price
e) Date of the 15 December 2017
transaction
f) Place of London Stock Exchange
the 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 Initial
/Amendment
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
a) Name Avingtrans plc
b) LEI 213800ZZ96CKPI423E86
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 Ordinary shares of 5p each
of the financial in the Company awarded under
instrument, the ExSOP share scheme
type of instrument
Identification GB0009188797
Code
b) Nature of Share award
the transaction
c) Price(s)
and volume(s)
Price(s) Volume(s)
Nil 80,000
----------
d) Aggregated
information n/a - single transaction
- Aggregated
volume
- Price
e) Date of the 15 December 2017
transaction
f) Place of London Stock Exchange
the transaction
This information is provided by RNS
The company news service from the London Stock Exchange
END
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