WARRANT GRANT AND DIRECTORS’ DEALING
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AVATION PLC
WARRANT GRANT AND DIRECTORS' DEALING
Avation PLC (LSE: AVAP, Avation or "the Company"), the commercial passenger aircraft leasing company, advises that 840,000 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 and in alignment with shareholder value. The warrants were granted by the board at an exercise price of 140 pence per share. 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 and is subject to claw-back 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
Warrants
being issued
Total no. of
Warrants held
including this issue*
Shareholding upon
exercise of total number of Warrants held
% of issued share
capital upon
exercise of Warrants
Robert
Jeffries
Chatfield
495,000
2,290,000
14,990,858
22.32%
Mark Stephen
Shelton
70,000
330,000
372,206
0.55%
*Warrants are held at different exercise prices
A further 275,000 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 3,746,000. There are also 4,195,623 bondholder listed warrants (under code: AVAW.L). Assuming full exercise of all staff and bondholder warrants, this equates to 11.82% of the issued capital on exercise of warrants.
Share Capital and Voting Rights
There are a total of 59,220,801 ordinary shares in issue, with no shares held in treasury, and there are 59,220,801 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
Avation welcomes shareholder questions and comments and advises the email address is: investor@avation.net and the Company provides an investor Q & A during the update call associated with the release of results. The head office telephone number is +65 6252 2077.
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.
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
Identification code
Warrants to subscribe for ordinary shares
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
19 October 2026
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
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
Identification code
Warrants to subscribe for ordinary shares
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
70,000
d)
Aggregated information
See above
- Aggregated volume
- Price
e)
Date of the transaction
19 October 2026
f)
Place of the transaction
London Stock Exchange
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