RNS Number : 1449O
Avingtrans PLC
27 January 2023
 

27 January 2023

Avingtrans plc

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

Employee & PDMR Share Incentive Awards

Avingtrans plc (AIM: AVG), which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, announces that on 26 January 2023, the Board of Avingtrans, in accordance with the Company's Share Option Plan, granted options over 577,500 ordinary shares of 5p each in the Company ("Ordinary Shares") with an exercise price of 410.0 pence per Ordinary Share (the "Option Awards"). The following Option Awards were granted to Directors:

Director

Number of Ordinary Shares subject to Option Awards

Furthermore Austen Adams, Managing Director of the Group's PSRE Division and a PDMR of the Company, has been granted Option Awards over a total of 110,000 Ordinary Shares.

The Option Awards may not be exercised until 3 years from the date of grant and are subject to a performance condition, being the increase in the Company's adjusted EPS must be at least equal to the increase in RPI over the vesting period.

 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

Oliver Platts

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

 

 

  

1

Details of the person discharging managerial responsibilities / person closely associated  

a)

 

Name 

Steve McQuillan

2

 

Reason for the notification

 

a)

 

Position/status

Chief Executive Officer

 

 

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

Options over Ordinary Shares of 5p each



Identification code

ISIN: GB0009188797

 



b)

 

Nature of the transaction 

Award of ordinary shares pursuant to the Company Share Option Plan

 

c)

 

Price(s) and volume(s)







Exercise Price(s)

Volume(s)

410.0 pence

180,000



d)

 

Aggregated information

n/a



- Aggregated volume




- Price




e)

 

Date of the transaction 

26 January 2023

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

 

Chief Financial Officer

 

 

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

Options over Ordinary Shares of 5p each



Identification code

ISIN: GB0009188797

 



b)

 

Nature of the transaction

 

 

Award of ordinary shares pursuant to the Company Share Option Plan

 

c)

 

Price(s) and volume(s)







Exercise Price(s)

Volume(s)

410.0  pence

160,000



d)

 

Aggregated information




- Aggregated volume

N/A



- Price

N/A



e)

 

Date of the transaction

 

26 January 2023

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

Managing Director, PSRE Division

 

 

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

Options over Ordinary Shares of 5p each



Identification code

ISIN: GB0009188797

 



b)

 

Nature of the transaction 

Award of ordinary shares pursuant to the Company Share Option Plan

 

c)

 

Price(s) and volume(s)







Exercise Price(s)

Volume(s)

410.0 pence

110,000



d)

 

Aggregated information

n/a



- Aggregated volume




- Price




e)

 

Date of the transaction 

26 January 2023

f)

 

Place of the transaction

Off market

 

 

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