REG - Avation PLC - WARRANT GRANT AND DIRECTORS’ DEALING

AvationAnnouncement

15/03/2024 07:00

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RNS Number : 0181H  Avation PLC  15 March 2024

 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         Total no. of            Shareholding upon                           % of issued share


               Warrants       Warrants held           exercise of total number of Warrants held   capital upon

               being issued   including this issue*                                               exercise of Warrants
 Robert        495,000        3,225,000               15,455,001                                  18.22%

 Jeffries

 Chatfield
 Mark Stephen  25,000         118,000                 141,500                                     0.17%

 Shelton

*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 (http://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  Warrants to subscribe for ordinary shares

     Identification code                                          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

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  Warrants to subscribe for ordinary shares

     Identification code                                          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

d)

Aggregated information

See above

-      Aggregated volume

-      Price

e)

Date of the transaction

13 March 2024

f)

Place of the transaction

London Stock Exchange

 

 

 

 

 

 

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