AVG Avingtrans Plc

TIDMAVG

RNS Number : 7199C

Avingtrans PLC

23 January 2018

23 January 2018

Avingtrans Plc

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

Directors Shareholding

Avingtrans plc, which designs, manufactures and supplies critical components, modules and associated services to the energy and medical sectors, announces that Ewan Lloyd-Baker, non-executive director of the Company, has entered into a sale and repurchase agreement with Equities First Holdings ("EFH"), a securities based capital provider of finance for private and institutional investors (the "Agreement"), in respect of 300,000 ordinary shares (the "Transferred Shares") of his total shareholding of 775,993 ordinary shares in the Company, as security for a loan to satisfy a personal tax liability.

Under the terms of the Agreement, Mr Lloyd-Baker has transferred the Transferred Shares to EFH for consideration to be determined by the average of the last sale price of the ordinary shares as reported on Bloomberg over the three trading days upon and following receipt of the Transferred Shares by EFH.

Mr Lloyd-Baker is required to redeem the Transferred Shares at maturity when the loan is repaid at the end of the two year term. Under the terms of the Agreement, EFH is prohibited from short selling or voting the shares during the term of the loan.

Enquiries:

 
 Avingtrans plc 
  Steve McQuillan, CEO 
  Stephen King, CFO        0135 469 2391 
 N+1 Singer 
  Shaun Dobson 
  Lauren Kettle            020 7496 3000 
 Newgate Communications 
  (Financial PR) 
  Adam Lloyd 
  Ed Treadwell 
  James Browne             020 7653 9850 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  -------------------------------------------------------- 
 a)   Name                       Ewan Lloyd- Baker 
---  -------------------------  ----------------------------- 
 2    Reason for the notification 
---  -------------------------------------------------------- 
 a)   Position/status            Non-Executive Director 
---  -------------------------  ----------------------------- 
 b)   Initial notification       Initial 
       /Amendment 
---  -------------------------  ----------------------------- 
 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               Ordinary Shares of 5p each 
       instrument, type 
       of instrument               GB0009188797 
 
       Identification 
       code 
---  -------------------------  ----------------------------- 
 b)   Nature of the              Pledge of shares as security 
       transaction                in relation to a personal 
                                  loan 
---  -------------------------  ----------------------------- 
 c)   Price(s) and volume(s)       Price(s)    Volume(s) 
                                   ----------  ---------- 
                                    N/A         300,000 
                                   ----------  ---------- 
---  -------------------------  ----------------------------- 
 d)   Aggregated information     N/A (individual transaction) 
 
       - Aggregated volume 
 
       - Price 
---  -------------------------  ----------------------------- 
 e)   Date of the transaction    23 January 2018 
---  -------------------------  ----------------------------- 
 f)   Place of the transaction   Outside a trading venue 
---  -------------------------  ----------------------------- 
 

About Avingtrans

Avingtrans is engaged in the provision of highly engineered components, systems and services to the energy, medical and traffic management industries worldwide.

Energy and Medical

 
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. 
 
 Maloney Metalcraft Ltd - Aldridge, UK 
Designs, manufactures and services oil and 
 gas extraction and processing equipment, 
 including process plant for dehydration, 
 sweetening, drying and compression. 
 
 Hayward Tyler - Luton & East Kilbride, UK 
 and USA, China and India 
 Specialises in the design, manufacture and 
 servicing of performance-critical motors 
 and pumps in challenging environments 
 
 Peter Brotherhood - Peterborough, UK 
 Specialises in the design, manufacture and 
 servicing of performance-critical steam turbines, 
 turbo gen-sets, compressors, gear boxes and 
 combined heat and power systems 
Composite Products Ltd - Buckingham, UK 
 Centre for composite technology, parts and 
 assemblies, serving customers in industrial 
 markets. 
 
 Scientific Magnetics - Abingdon, UK 
 Designs and manufactures superconducting 
 magnet systems and associated cryogenic systems 
 for a variety of markets 
 
 Crown International Ltd - Portishead, UK 
 Designs and manufactures market-leading pole 
 and support systems for roadside signage 
 and safety cameras, rail track signalling 
 and gantries. 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 23, 2018 12:51 ET (17:51 GMT)

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