Avation PLC Issue of Equity (6055H)
November 16 2018 - 4:29AM
UK Regulatory
TIDMAVAP
RNS Number : 6055H
Avation PLC
16 November 2018
AVATION PLC
("Avation" or "the Company")
ISSUE OF EQUITY ON EXERCISE OF WARRANTS AND DIRECTOR'S
DEALING
Avation PLC (LSE: AVAP), the commercial passenger aircraft
leasing company advises that on 16 November 2018, the Company
allotted 1,538,190 fully paid new ordinary shares representing 2.39
per cent of the enlarged capital of the Company pursuant to the
exercise on the expiry date of the 2015 series staff share warrants
which were originally issued at a price of 130 pence per share,
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
proceeds of these warrants provides the Company with GBP1,999,647
in subscription funds 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 or about 21 November 2018 .
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.
Jeff Chatfield, the executive Chairman of the Company, exercised
warrants in respect of 450,000 shares through Epsom Assets Ltd a
company in which he has an interest. Following this allotment, the
interests of Jeff Chatfield in the Company will be 11,605,001
ordinary shares representing 18.0 per cent of the enlarged capital
of the Company. Roderick Mahoney, an executive director, exercised
warrants in respect of 233,000 shares. Following this allotment,
the interests of Roderick Mahoney will be 833,000 ordinary shares
representing 1.29 per cent of the enlarged capital of the
Company.
Following Admission, there will be a total of 64,481,936
ordinary shares in issue and shareholders can use the same number
for the purposes of calculating Total Voting Rights.
-ENDS-
Enquiries:
Avation
Jeff Chatfield, Executive Chairman T: +65 6252 2077
Note to Editors:
Avation PLC is a commercial passenger aircraft leasing company,
headquartered in Singapore, owning and managing a fleet of jet and
turboprop aircraft which it leases to airlines across the
world.
More information on Avation PLC can be seen at:
www.avation.net
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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