12 July 2021
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 certain dealings in its shares by Austen Adams (an MD within the Company's Process Solutions & Rotating Equipment and a PDMR of the Company), and other staff members pursuant to the Company's Share Option Plan ("CSOP") and Executive Share Option Plan.
PDMR Dealings
Exercise of Options
Austen Adams exercised options over ordinary shares of 5 pence each ("Ordinary Shares") as follows (together the "PDMR Exercise"):
| Plan | Options exercised over Ordinary Shares | Exercise price |
| FY16 CSOP Approved | 15,250 | 178p |
| FY13 CSOP Unapproved | 3,000 | 176p |
| Total | 18,250 |
|
Shares Awarded Under Joint Ownership EBT
Furthermore, Austen has been awarded 117,454 Ordinary Shares out of the Company's Employee Benefit Trust.
Sale of Shares
Following the PDMR Exercise and award of shares from EBT, Austen immediately sold 35,704 Ordinary Shares at an aggregated price of 418.97 pence per Ordinary Share.
As a result of the above activity (and following the issue of new Ordinary Shares as set out below), Austen's interest in the Company's issued share capital will increase from 37,332 Ordinary Shares to 137,332(1) Ordinary Shares, representing 0.4% of the Company's enlarged share capital.
(1)This figure includes 32,332 Ordinary Shares held by Tracey Adams
Issue of Equity
In connection with the PDMR Exercise and exercise of options by other members of staff, the Company has issued, conditional on admission to trading on AIM, a total of 38,125 new ordinary shares of 5 pence each ("New Ordinary Shares") in the Company. Application for admission of the New Ordinary Shares to trading on AIM has been made and admission is expected to occur on or around 15 July 2021 ("Admission").
Total Voting Rights
Following the issue of the 38,125 new Ordinary Shares the Company will have a total of 32,009,432 Ordinary Shares in issue. The Company does not hold any shares in Treasury. The above figure may therefore 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) | 02074 963000 |
| Shaun Dobson/Alex Bond (Corporate Finance) Rachel Hayes (Corporate Broking) | |
| IFC Advisory Ltd | 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 Provider of custom fabrications for the nuclear industry, specialising in: OEM parts obsolescence; custom fabrications; engineering design solutions; product refurbishment; on-site technical support.
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
| Austen Adams | ||||||
| 2
| Reason for the notification
| |||||||
| a)
| Position/status
| PDMR | ||||||
|
| 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
| Exercise of options
| ||||||
| c)
| Price(s) and volume(s) |
|
|
|
| |||
|
|
|
|
|
| ||||
| d)
| Aggregated information |
| ||||||
|
|
| |||||||
| - Aggregated volume | 18,250 | |||||||
|
|
| |||||||
| - Price | 177.67p | |||||||
|
|
| |||||||
| e)
| Date of the transaction
| 8 July 2021 | ||||||
| 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
| PDMR | ||||||
|
| 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 Shares
| ||||||
| c)
| Price(s) and volume(s) |
|
|
|
| |||
|
|
|
|
|
| ||||
| d)
| Aggregated information | n/a | ||||||
|
|
| |||||||
| - Aggregated volume |
| |||||||
|
|
| |||||||
| - Price |
| |||||||
|
|
| |||||||
| e)
| Date of the transaction
| 8 July 2021 | ||||||
| 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
| PDMR | ||||||
|
| 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
| Sale of Ordinary Shares
| ||||||
| c)
| Price(s) and volume(s) |
|
|
|
| |||
|
|
|
|
|
| ||||
| d)
| Aggregated information |
| ||||||
|
|
| |||||||
| - Aggregated volume | 35,704 | |||||||
|
|
| |||||||
| - Price | 418.97 | |||||||
|
|
| |||||||
| e)
| Date of the transaction
| 12 July 2021 | ||||||
| f)
| Place of the transaction
| London Stock Exchange | ||||||
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.