Avation PLC ISSUE OF EQUITY ON WARRANT EX, DIRECTOR DEALING (4313A)
24 March 2017 - 6:00PM
UK Regulatory
TIDMAVAP
RNS Number : 4313A
Avation PLC
24 March 2017
AVATION PLC
("Avation" or "the Company")
ISSUE OF EQUITY ON EXERCISE OF WARRANTS AND DIRECTOR'S
DEALING
The Board of Avation PLC (LSE: AVAP), announces that on 23 March
2017, the Company allotted 1,816,000 fully paid new ordinary shares
representing 2.97 per cent of the enlarged capital of the Company
pursuant to the exercise of 748,500 (2013 series) and 1,067,500
(2014 series) share warrants at a price of 110 pence and 153 pence
per share respectively, conditional only on admission of the new
shares to the Official List and to trading on the London Stock
Exchange's main market for listed securities becoming effective
("Admission"). The exercise of these warrants provides the Company
with GBP2,456,625 in subscription proceeds which the Company will
use for general corporate purposes.
Application will be made for the new ordinary shares to be
listed on the standard segment of the Official List of the UK
Listing Authority and to be admitted to trading on the London Stock
Exchange's main market for listed securities. It is expected that
Admission will become effective and that dealings in the new
ordinary shares will commence on 30 March 2017.
The new ordinary shares will, when issued, rank pari passu in
all respects with the existing ordinary shares including the right
to receive dividends and other distributions declared following
Admission.
Roderick Mahoney, an executive director, exercised 300,000 (2013
series) warrants through Douglas Aviation Pte Ltd, a company in
which he has an interest, and 267,000 (2014 series) warrants in his
own name. The Company has been notified that Mr Mahoney has agreed
to sell 567,000 New Shares on Admission at a price of 205 pence per
share. Following this sale, the interests of Roderick Mahoney in
the Company will be 300,000 ordinary shares representing 0.49 per
cent of the enlarged capital of the Company.
Following Admission, there will be a total of 61,071,246
ordinary shares in issue. For the purposes of calculating Total
Voting Rights shareholders may use the number 61,071,246 as the
total number of shares from the date of Admission.
-ENDS-
More information on Avation can be seen at: www.avation.net
Enquiries:
Avation T: +65 6252 2077
Jeff Chatfield, Executive
Chairman
Notes to Editors:
Avation PLC is a commercial passenger aircraft leasing company,
owning and managing a fleet of 40 jet and turboprop aircraft which
it leases to airlines across the world. The Company's customers
include Air France, Air Berlin, Air India, Condor, Flybe, Fiji
Airways, Thomas Cook, Virgin Australia, UNI Air and Vietjet
Air.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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