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AVATION PLC

("Avation" or "the Company")

SENIOR NOTES MATURITY EXTENSION - WARRANTS LISTING

Avation PLC (AVAP: LSE), the commercial passenger aircraft leasing company announces that, further to the announcement made on 9 February 2021, it has obtained confirmation from the UK Financial Conduct Authority ("FCA") that, subject to the approval of a prospectus, an application for the listing of the warrants issued to bondholders pursuant to the maturity extension exercise (the "Bondholder Warrants") can be made, so that they would be listed in the standard listing segment of the Official List of the FCA. This will enable the Bondholder Warrants to be admitted to trading on the Main Market for listed securities of the London Stock Exchange plc ("Admission"), as the final component of the arrangement reached with bondholders under the maturity extension exercise. There are approximately 5.5 million Bondholder Warrants in issue and the warrants have an exercise price of 114.5 pence per ordinary share in Avation.

The Company is currently undertaking a prospectus approval process with the FCA to enable Admission to take place. The Company currently expects the approval process to be completed in April 2022 and for Admission to take place following such approval being given. It is currently envisaged, that new Avation staff warrants will be issued under the same warrant instrument pari passu with the Bondholder Warrants and be admitted to the Main Market as one class of securities.

In order to be able to trade the Bondholder Warrants via CREST, holders will need to liaise with their brokers so that the warrants can be transferred into uncertificated form. This process will be managed by the Company's registrar, Computershare Investor Services PLC.

Holders of the Bondholder Warrants are advised to refer to the notice to warrant holders which can be found on the Company's website at the following link:

https://www.avation.net/notices.html 

ENDS-

Enquiries:

Avation PLC - Jeff Chatfield, Executive Chairman                                      +65 6252 2077

Avation welcomes shareholder questions and comments and advises the email address is: investor@avation.net

Notes to Editors:

Avation PLC is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to airlines around the world. More information on Avation is available at www.avation.net.