23 December 2022

Avingtrans Plc

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

Exercise of Options, PDMR Dealings and Total Voting Rights

Avingtrans plc (AIM: AVG), which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, announces transactions involving its shares by certain PDMRs (including Executive Directors), and other staff members pursuant to the Company's Executive Shared Ownership Plan ("ExSOP") and Company Share Option Plan ("CSOP").

ExSOP

On 21 December 2022, the Company was notified of the exercise of certain option awards over ordinary shares of 5p each in the Company ("Ordinary Shares") in the ExSOP. The option awards were issued to the PDMRs in November 2018 and December 2019. The vesting criteria, being growth in adjusted basic earnings per share equalling the increase in the retail price index over the three year vesting period, has been achieved.

Details of the exercise of options by PDMRs, together with the subsequent beneficial holdings of each individual following the transactions are set out below:

¹Including Persons Closely Associated

The ExSOP options exercised at a price of 440p per option, being the closing mid-market price on 21 December 2022.

The exercise of the awards under the ExSOP have been satisfied by the reallocation of 131,691 existing Ordinary Shares already in the employees' share trust.

CSOP Exercise

In addition to the ExSOP exercise, on 21 December 2022, the Company was notified that certain employees exercised a total of 109,000 options over Ordinary Shares pursuant to the Company's FY 2019 Approved CSOP and FY2019 Unapproved CSOP (together, the "CSOP Options").

Issue of Equity

Exercise of the CSOP Options have been satisfied through the issue of 109,000 new Ordinary Shares.

Application has been made for admission to trading on AIM for the 109,000 new Ordinary Shares ("Admission"). It is expected that Admission will become effective on 30 December 2022.

Total Voting Rights

Following the issue of the 109,000 new Ordinary Shares, the Company will have a total of 32,250,445 Ordinary Shares in issue. The Company does not hold any shares in Treasury.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The above information is provided by the Company in accordance with its obligations under the FCA's Disclosure Guidance and Transparency Rules.

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About Avingtrans plc: 

Avingtrans designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy, medical and industrial markets worldwide. 

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