REG - Avingtrans PLC - Exercise of Share Options <Origin Href="QuoteRef">AVG.L</Origin>

AvingtransAnnouncement

04/07/2016 13:20

RNS Number : 1645D
Avingtrans PLC
04 July 2016
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Exercise of Share Options
Avingtrans (AIM:AVG), a manufacturer of critical components and associated services to the global aerospace, energy and medical sectors announces it was notified on 1 July 2016 of the transactions described below in the ordinary shares of the Company by the directors.
On 1 July 2016, the Company was notified of the vesting and exercise of certain option awards over ordinary shares of 5p each in the Company ("Ordinary Shares") in the Executive Shared Ownership Plan ("the ExSOP "). The option awards were issued to the directors in December 2012 and 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 Steve McQuillan and Stephen King and the subsequent beneficial holdings of each director following the transactions are set out below:
Director
Number of Options 
Number of Ordinary Shares which have vested to each Director
Beneficial interest in Ordinary Shares after the transaction
Percentage interest in Ordinary Shares after the transaction
Steve McQuillan
145,000
71,141
431,707
1.55%





Stephen King
95,000
44,157
360,495 
1.30%





For further information, please contact:
Enquiries:
Avingtrans plc
Steve McQuillan, CEO
Stephen King, CFO
0115 949 9020
Numis Securities Limited
Tom Ballard (Corporate Broking)
Richard Thomas (Corporate Finance and Nominated Adviser)
020 7260 1000
Newgate
(Financial PR)
Adam Lloyd
Ed Treadwell
020 7653 9850
About Avingtrans
Avingtrans plc is engaged in the provision of highly engineered components, systems and services to the energy, medical and traffic management industries worldwide.
Energy and medical, engaged in the design and manufacture of safety critical equipment for the energy, medical, science and research communities, including oil and gas extraction and processing equipment, nuclear process plant, machined and fabricated pressure and vacuum vessels and components. Also, design and manufacture of fabricated poles and cabinets for roadside safety cameras and rail track signalling.
The strategy of the group, is to "buy and build" in regulated engineering niche markets, where we can see potential consolidation opportunities, which can lead to significantly increased shareholder value over the medium to long term.

This information is provided by RNS
The company news service from the London Stock Exchange
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