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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November 29, 2021 12:57 ET (17:57 GMT)

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