REG - Avation PLC - SHARE BUYBACK

AvationAnnouncement

18/12/2024 07:00

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RNS Number : 5549Q  Avation PLC  18 December 2024

 Via RNS and SGXNET

AVATION PLC

("Avation" or "the Company")

SHARE BUYBACK

The Board of Avation PLC (LSE: AVAP), announces that it has concluded a
repurchase of 7,800,000 shares, through the market, at 150p each, representing
10.45% of the 74,671,886 ordinary shares in issue. Repurchased shares will be
held in treasury. Following this transaction, the company has 66,871,886
voting shares in issue.

Jeff Chatfield, Executive Chairman of Avation PLC, said, 'This repurchase of
shares was made under the current share buyback mandate granted at the last
AGM and as previously advised. The number of shares repurchased is a
significant portion of the company's issued share capital and demonstrates our
commitment to maximizing value for shareholders through both capital structure
management as well as aircraft portfolio growth. It also underscores the deep
value we see in our own shares, in the context of robust aircraft and airline
end-markets, comparable aircraft transaction multiples, our existing fully
utilized fleet, and the accretive growth pipeline embedded in our ATR
orderbook and purchase options.

We repurchased shares at a 47% discount to the last reported Net Asset Value
per share of 285p, making this transaction highly accretive to all residual
shareholders in the Company. We will continue to pursue all avenues to manage
the capital structure and maximize shareholder value, including further
accretive transactions of this nature in addition to our articulated portfolio
growth strategy.'

TOTAL VOTING RIGHTS

There are now 74,671,886 ordinary shares in issue with 7,800,000 shares held
in treasury. The total number of voting rights in the Company is therefore
66,871,886.  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 Guidance and Transparency Rules.

-ENDS-

Enquiries:

Avation PLC - Jeff Chatfield, Executive
Chairman
+65 6252 2077

Avation welcomes shareholder questions and comments and advises the email
address for questions is: investor@avation.net (mailto:investor@avation.net)
and the Company provides an investor Q & A during the conference call
associated with release of results. The head office telephone number is +65
62522077.

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 (http://www.avation.net) .

 

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