REG - Avingtrans PLC - Director Shareholding <Origin Href="QuoteRef">AVG.L</Origin>

AvingtransAnnouncement

23/01/2018 17:55

RNS Number : 7199C
Avingtrans PLC
23 January 2018
23 January 2018 
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Directors Shareholding
Avingtrans plc, which designs, manufactures and supplies critical components, modules and associated services to the energy and medical sectors, announces that Ewan Lloyd-Baker, non-executive director of the Company, has entered into a sale and repurchase agreement with Equities First Holdings ("EFH"), a securities based capital provider of finance for private and institutional investors (the "Agreement"), in respect of 300,000 ordinary shares (the "Transferred Shares") of his total shareholding of 775,993 ordinary shares in the Company, as security for a loan to satisfy a personal tax liability. 
Under the terms of the Agreement, Mr Lloyd-Baker has transferred the Transferred Shares to EFH for consideration to be determined by the average of the last sale price of the ordinary shares as reported on Bloomberg over the three trading days upon and following receipt of the Transferred Shares by EFH. 
Mr Lloyd-Baker is required to redeem the Transferred Shares at maturity when the loan is repaid at the end of the two year term. Under the terms of the Agreement, EFH is prohibited from short selling or voting the shares during the term of the loan. 
Enquiries:
Avingtrans plc
Steve McQuillan, CEO
Stephen King, CFO
0135 469 2391
N+1 Singer 
Shaun Dobson
Lauren Kettle
020 7496 3000
Newgate Communications
(Financial PR)
Adam Lloyd
Ed Treadwell
James Browne
020 7653 9850
1 
Details of the person discharging managerial responsibilities / person closely associated 
a) 
Name 
Ewan Lloyd- Baker
2 
Reason for the notification 
a) 
Position/status 
Non-Executive Director
b) 
Initial notification /Amendment 
Initial
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 of the financial instrument, type of instrument 
Identification code 
Ordinary Shares of 5p each
GB0009188797
b) 
Nature of the transaction 
Pledge of shares as security in relation to a personal loan
c) 
Price(s) and volume(s) 
Price(s)
Volume(s)
N/A
300,000
d) 
Aggregated information 
- Aggregated volume 
- Price 
N/A (individual transaction)
e) 
Date of the transaction 
23 January 2018
f) 
Place of the transaction 
Outside a trading venue
About Avingtrans
Avingtrans is engaged in the provision of highly engineered components, systems and services to the energy, medical and traffic management industries worldwide.
 
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