Avingtrans PLC Employee & PDMR Share Incentive Awards (9423T)
November 29 2021 - 11:57AM
UK Regulatory
TIDMAVG
RNS Number : 9423T
Avingtrans PLC
29 November 2021
Avingtrans plc
("Avingtrans", the "Company", or the "Group")
Employee & PDMR Share Incentive Awards
Avingtrans plc (AIM: AVG), which designs, manufactures and
supplies critical components, modules, systems and associated
services to the energy, medical and industrial sectors, announces
that on 29 November 2021, the Board of Avingtrans, in accordance
with the Company's Share Option Plan, granted options over 570,000
ordinary shares of 5p each in the Company ("Ordinary Shares") with
an exercise price of 402.5 pence per Ordinary Share (the "Option
Awards"). The following Option Awards were granted to
Directors:
Director Number of Ordinary Shares subject to
Option Awards
Steve McQuillan 180,000
Stephen King 160,000
Furthermore Austen Adams, Managing Director of the Group's PSRE
Division and a PDMR of the Company, has been granted Option Awards
over a total of 110,000 Ordinary Shares.
The Option Awards may not be exercised until 3 years from the
date of grant and are subject to a performance condition, being the
increase in the Company's adjusted EPS must be at least equal to
the increase in RPI over the vesting period.
Enquiries:
Avingtrans plc 01354 692391
Roger McDowell, Chairman
Steve McQuillan, Chief Executive Officer Stephen King,
Chief Financial Officer
Singer Capital Markets (Nominated
Adviser) 02074 963000
Shaun Dobson
Alex Bond
Oliver Platts
Rachel Hayes
IFC Advisory Ltd 020 3934 6630
Graham Herring
Tim Metcalfe
Zach Cohen
About Avingtrans plc:
Avingtrans designs, manufactures and supplies original
equipment, systems and associated aftermarket services to the
energy, medical and industrial markets worldwide.
Business units
Hayward Tyler - Luton & East Kilbride, UK and USA, China and
India
Specialises in the design, manufacture and servicing of performance-critical
motors and pumps for challenging environments.
Energy Steel, Inc - Rochester Hills, Michigan, USA
Provider of custom fabrications for the nuclear industry, specialising
in: OEM parts obsolescence; custom fabrications; engineering
design solutions; product refurbishment; on-site technical
support.
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.
Booth Industries - Bolton, UK
Designs, manufactures, installs and services doors and walls
which can be tailored to be: blast &explosion proof; fireproof;
acoustically shielded; high security/safety; or combinations
of the above
Ormandy Group, Bradford, UK
Design, manufacturers and servicing of off-site plant, heat
exchangers and other HVAC (heating, ventilation and air conditioning)
products
Composite Products Ltd - Buckingham, UK
Centre for composite technology, parts and assemblies, serving
customers in industrial markets.
Magnetica Ltd - Brisbane, Australia
Magnetica Limited specialises in the development of next generation
MRI technologies, including dedicated extremity MRI systems
and MRI system components. Magnetica has successfully built
and tested a compact, integrated 3 Tesla orthopaedic MRI system,
demonstrating clinical-quality imaging. Commercialisation of
this system (and others) is on-going. Magnetica's structure
now includes two other business units:
Scientific Magnetics - Abingdon, UK
Designs and manufactures superconducting magnet systems and
associated cryogenics for a variety of markets including MRI
and provides services for Nuclear Magnetic Resonance instruments.
Tecmag Inc, Houston, USA
Designs, manufactures and installs instrumentation, including
consoles, system upgrades, and probes, mainly for Magnetic
Resonance Imaging (MRI) and Nuclear Magnetic Resonance (NMR)
systems.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Steve McQuillan
------------------------- ------------------------------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------- ------------------------------------------------------------------
Initial Initial notification
notification
/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 Options over Ordinary Shares of 5p each
of the financial
instrument,
type of
instrument
Identification ISIN: GB0009188797
code
b) Nature of Award of ordinary shares pursuant to the Company
the transaction Share Option Plan
------------------------- ------------------------------------------------------------------
c) Price(s)
and volume(s)
------------------------------------------------------------
Exercise Volume(s)
Price(s)
402.5 pence 180,000
----------
------------------------- ------------------------------------------------------------
d) Aggregated n/a
information
- Aggregated
volume
- Price
e) Date of 29 Nove m ber 2021
the transaction
------------------------- ------------------------------------------------------------------
f) Place of Off market
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 Chief Financial Officer
-------------------------- ------------------------------------------------------------------
Initial Initial notification
notification
/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 Options over Ordinary Shares of 5p each
of the financial
instrument,
type of
instrument
Identification ISIN: GB0009188797
code
b) Nature of Award of ordinary shares pursuant to the Company
the transaction Share Option Plan
-------------------------- ------------------------------------------------------------------
c) Price(s)
and volume(s)
------------------------------------------------------------
Exercise Volume(s)
Price(s)
402.5 pence 160,000
-------------------------- ------------------------------------------------------------
d) Aggregated
information
- Aggregated N/A
volume
- Price N/A
e) Date of 29 Nove mber 2021
the transaction
-------------------------- ------------------------------------------------------------------
f) Place of Off-market
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, PSRE Division
------------------------- ------------------------------------------------------------------
Initial Initial notification
notification
/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 Options over Ordinary Shares of 5p each
of the financial
instrument,
type of
instrument
Identification ISIN: GB0009188797
code
b) Nature of Award of ordinary shares pursuant to the Company
the transaction Share Option Plan
------------------------- ------------------------------------------------------------------
c) Price(s)
and volume(s)
------------------------------------------------------------
Exercise Volume(s)
Price(s)
402.5 pence 110,000
----------
------------------------- ------------------------------------------------------------
d) Aggregated n/a
information
- Aggregated
volume
- Price
e) Date of 29 Nove m ber 2021
the transaction
------------------------- ------------------------------------------------------------------
f) Place of Off market
the transaction
------------------------- ------------------------------------------------------------------
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END
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