RNS Number : 1959U
Avingtrans PLC
22 November 2023
 

22 November 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 21 November 2023, the Board of Avingtrans, in accordance with the Company's Share Option Plan, granted options over 606,000 ordinary shares of 5p each in the Company ("Ordinary Shares") with an exercise price of 390.0 pence per Ordinary Share (the "Option Awards"). The following Option Awards were granted to Directors:

Director

Number of Ordinary Shares subject to Option Awards

Steve McQuillan

180,000

Stephen King

160,000

 

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

Roger McDowell, Chairman

Steve McQuillan, Chief Executive Officer

Stephen King, Chief Financial Officer

 

01354 692 391

Singer Capital Markets (Nominated Adviser and Broker)

Shaun Dobson

Alex Bond

Oliver Platts

020 7496 3000

IFC Advisory (Financial PR)

Graham Herring

Tim Metcalfe

Zach Cohen

020 3934 6630

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 & Nottingham, UK, 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

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 and 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.

Adaptix Ltd - Oxford, UK

Adaptix has developed novel 3D X-ray for Orthopaedic and Veterinary applications amongst others. Commercialisation of this system (and others) is on-going.

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

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)

390.0 pence

180,000



d)

 

Aggregated information

n/a



- Aggregated volume




- Price




e)

 

Date of the transaction 

21 November 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)

390.0  pence

160,000



d)

 

Aggregated information




- Aggregated volume

N/A



- Price

N/A



e)

 

Date of the transaction

 

21 November 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)

390.0 pence

110,000



d)

 

Aggregated information

n/a



- Aggregated volume




- Price




e)

 

Date of the transaction 

21 November 2023

f)

 

Place of the transaction

Off market

 

 

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