REG - Avingtrans PLC - Exercise of Options, PDMR Dealings & TVR
23/12/2022 08:30
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RNS Number : 8915K Avingtrans PLC 23 December 2022
23 December 2022
Avingtrans Plc
("Avingtrans", the "Company", or the "Group")
Exercise of Options, PDMR Dealings and Total Voting Rights
Avingtrans plc (AIM: AVG), which designs, manufactures and supplies critical
components, modules, systems and associated services to the energy, medical
and industrial sectors, announces transactions involving its shares
by certain PDMRs (including Executive Directors), and other staff members
pursuant to the Company's Executive Shared Ownership Plan ("ExSOP") and
Company Share Option Plan ("CSOP").
ExSOP
On 21 December 2022, the Company was notified of the exercise of certain
option awards over ordinary shares of 5p each in the Company ("Ordinary
Shares") in the ExSOP. The option awards were issued to the PDMRs in November
2018 and December 2019. The vesting criteria, being growth in adjusted basic
earnings per share equalling the increase in the retail price index over the
three year vesting period, has been achieved.
Details of the exercise of options by PDMRs, together with the subsequent
beneficial holdings of each individual following the transactions are set out
below:
PDMR / Role ExSOP Plan ExSOP options exercised Number of Ordinary Shares which have vested to each Director Beneficial interest in Ordinary Shares following the transaction(1) Percentage of Enlarged Total Voting Rights held following exercise
Austen Adams (MD, Process Solutions & Rotating Equipment) FY 2019 100,000 33,860 175,607 0.54%
Steven King (CFO) FY 2018 100,000 45,503 406,938 1.26%
Steve McQuillan (CEO) FY 2018 115,000 52,328 468,987 1.45%
(1)Including Persons Closely Associated
The ExSOP options exercised at a price of 440p per option, being the closing
mid-market price on 21 December 2022.
The exercise of the awards under the ExSOP have been satisfied by the
reallocation of 131,691 existing Ordinary Shares already in the employees'
share trust.
CSOP Exercise
In addition to the ExSOP exercise, on 21 December 2022, the Company was
notified that certain employees exercised a total of 109,000 options over
Ordinary Shares pursuant to the Company's FY 2019 Approved CSOP and FY2019
Unapproved CSOP (together, the "CSOP Options").
Issue of Equity
Exercise of the CSOP Options have been satisfied through the issue of 109,000
new Ordinary Shares.
Application has been made for admission to trading on AIM for the 109,000 new
Ordinary Shares ("Admission"). It is expected that Admission will become
effective on 30 December 2022.
Total Voting Rights
Following the issue of the 109,000 new Ordinary Shares, the Company will have
a total of 32,250,445 Ordinary Shares in issue. The Company does not hold any
shares in Treasury.
The above 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.
The above information is provided by the Company in accordance with its
obligations under the FCA's Disclosure Guidance and Transparency Rules.
Enquiries:
Avingtrans plc 01354 692391
Roger McDowell, Chairman
Steve McQuillan, Chief Executive Officer
Stephen King, Chief Financial Officer
Singer Capital Markets (Nominated Adviser and Broker) 02074 963000
Shaun Dobson / Alex Bond / Oliver Platts (Investment Banking)
IFC Advisory (Financial PR) 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
Energy Steel, part of the Engineered Pumps and Motors Division of Avingtrans
plc, has been serving the nuclear power industry since 1982 with capabilities
in equipment fabrication, material supply, precision machining, engineering,
and repair services. Through strategic OEM partnerships, it also provides
solutions for obsolete nuclear components and support for the most complex
projects.
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 CEO
Initial notification /Amendment Initial notification
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 ExSOP Option Awards over Ordinary Shares of 5p each
Identification code ISIN: GB0009188797
b) Nature of the transaction Exercise of Options under the ExSOP
c) Price(s) and volume(s)
Price(s) Volume(s)
440p 115,000
d) Aggregated information n/a
- Aggregated volume
- Price
e) Date of the transaction 21 December 2022
f) Place of the transaction Off market
d)
Aggregated information
n/a
- Aggregated volume
- Price
e)
Date of the transaction
21 December 2022
f)
Place of the transaction
Off market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Steve McQuillan
2 Reason for the notification
a) Position/status CEO
Initial notification /Amendment Initial notification
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 Ordinary Shares of 5p each
Identification code ISIN: GB0009188797
b) Nature of the transaction Award of Ordinary Shares which have vested under the ExSOP
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 52,328
d) Aggregated information n/a
- Aggregated volume
- Price
e) Date of the transaction 21 December 2022
f) Place of the transaction Off market
d)
Aggregated information
n/a
- Aggregated volume
- Price
e)
Date of the transaction
21 December 2022
f)
Place of the transaction
Off market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Stephen King
2 Reason for the notification
a) Position/status CFO
Initial notification /Amendment Initial notification
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 ExSOP Option Awards over Ordinary Shares of 5p each
Identification code ISIN: GB0009188797
b) Nature of the transaction Exercise of options under the ExSOP
c) Price(s) and volume(s)
Price(s) Volume(s)
440p 100,000
d) Aggregated information n/a
- Aggregated volume
- Price
e) Date of the transaction 21 December 2022
f) Place of the transaction Off market
d)
Aggregated information
n/a
- Aggregated volume
- Price
e)
Date of the transaction
21 December 2022
f)
Place of the transaction
Off market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Stephen King
2 Reason for the notification
a) Position/status CFO
Initial notification /Amendment Initial notification
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 Ordinary Shares of 5p each
Identification code ISIN: GB0009188797
b) Nature of the transaction Award of Ordinary Shares which have vested under the ExSOP
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 45,503
d) Aggregated information n/a
- Aggregated volume
- Price
e) Date of the transaction 21 December 2022
f) Place of the transaction Off market
d)
Aggregated information
n/a
- Aggregated volume
- Price
e)
Date of the transaction
21 December 2022
f)
Place of the transaction
Off market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Austen Adams
2 Reason for the notification
a) Position/status MD, Process Solutions & Rotating Equipment
Initial notification /Amendment Initial notification
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 ExSOP Option Awards over Ordinary Shares of 5p each
Identification code ISIN: GB0009188797
b) Nature of the transaction Exercise of options under the ExSOP
c) Price(s) and volume(s)
Price(s) Volume(s)
440p 100,000
d) Aggregated information n/a
- Aggregated volume
- Price
e) Date of the transaction 21 December 2022
f) Place of the transaction Off market
d)
Aggregated information
n/a
- Aggregated volume
- Price
e)
Date of the transaction
21 December 2022
f)
Place of the transaction
Off market
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Austen Adams
2 Reason for the notification
a) Position/status MD, Process Solutions & Rotating Equipment
Initial notification /Amendment Initial notification
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 Ordinary Shares of 5p each
Identification code ISIN: GB0009188797
b) Nature of the transaction Award of Ordinary Shares which have vested under the ExSOP
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 33,860
d) Aggregated information n/a
- Aggregated volume
- Price
e) Date of the transaction 21 December 2022
f) Place of the transaction Off market
d)
Aggregated information
n/a
- Aggregated volume
- Price
e)
Date of the transaction
21 December 2022
f)
Place of the transaction
Off market
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