RNS Number : 6077N
Avingtrans PLC
23 January 2023
 

23 January 2023

Avingtrans Plc

("Avingtrans", the "Company", or the "Group")

PDMR Dealings

 

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 by Austen Adams, Divisional MD of the Process Solutions & Rotating Equipment division, and a PDMR of the Company.

Sales of Shares

The Company was notified that today, Austen sold 33,860 ordinary shares of 5p each in the Company ("Ordinary Shares"), being an amount equal to the total number of Ordinary Shares which vested to him in respect of the FY 2019 ExSOP (as announced on 23 December 2022), at a price of 420p per Ordinary Share.

Purchase of Shares

Austen and his wife, Tracy Adams, subsequently purchased a total of 6,964 Ordinary Shares across their ISAs at a price of 430.55 pence per Ordinary Share.

As a result of the above activity, Austen's beneficial interest in the Company's issued share capital reduced to 153,1351 Ordinary Shares, representing 0.47% of the Company's enlarged share capital.

1This figure includes 139,077 Ordinary Shares held by Tracey Adams.

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

 

 

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

 

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

 

 

MD within the Company's 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 5 pence each



Identification code

ISIN: GB0009188797

 



b)

 

Nature of the transaction

 

 

Sale of Ordinary Shares

 

c)

 

Price(s) and volume(s)


 

Price(s)

Volume(s)

420p

33,860

 

 

 

 

 

 







d)

 

Aggregated information

n/a



- Aggregated volume




- Price




e)

 

Date of the transaction

 

 

23 January 2023

f)

 

Place of the transaction

 

 

London Stock Exchange

 

1

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Austen Adams (including Tracy Adams, a PCA with Austen Adams)

2

 

Reason for the notification

 

a)

 

Position/status

 

 

MD within the Company's 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 5 pence each



Identification code

ISIN: GB0009188797

 



b)

 

Nature of the transaction

 

 

Purchase of Ordinary Shares

 

c)

 

Price(s) and volume(s)


 

Price(s)

Volume(s)

430.55p

6,964

 

 

 

 

 

 







d)

 

Aggregated information

n/a



- Aggregated volume




- Price




e)

 

Date of the transaction

 

 

23 January 2023

f)

 

Place of the transaction

 

 

London Stock Exchange

 

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