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Avingtrans plc's Board, on 26 January 2023, granted options over 577,500 ordinary shares with an exercise price of 410.0 pence per share, under the Company's Share Option Plan. Directors Steve McQuillan and Stephen King received options over 180,000 and 160,000 ordinary shares respectively, and PDMR Austen Adams received options over 110,000 ordinary shares. These Option Awards are not exercisable until three years from the grant date and are subject to a performance condition.
| Date | 27 Jan 2023 |
| Time | 13:19:24 |
| Category | Director/PDMR dealings |
| ID | 1449O |
27 January 2023
Avingtrans plc
("Avingtrans", the "Company", or the "Group")
Employee & PDMR Share Incentive Awards
Avingtrans plc (AIM: AVG), which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, announces that on 26 January 2023, the Board of Avingtrans, in accordance with the Company's Share Option Plan, granted options over 577,500 ordinary shares of 5p each in the Company ("Ordinary Shares") with an exercise price of 410.0 pence per Ordinary Share (the "Option Awards"). The following Option Awards were granted to Directors:
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Director |
Number of Ordinary Shares subject to Option Awards |
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Steve McQuillan |
180,000 |
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Stephen King |
160,000 |
Furthermore Austen Adams, Managing Director of the Group's PSRE Division and a PDMR of the Company, has been granted Option Awards over a total of 110,000 Ordinary Shares.
The Option Awards may not be exercised until 3 years from the date of grant and are subject to a performance condition, being the increase in the Company's adjusted EPS must be at least equal to the increase in RPI over the vesting period.
Enquiries:
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Avingtrans plc |
01354 692391 |
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Roger McDowell, Chairman Steve McQuillan, Chief Executive Officer Stephen King, Chief Financial Officer |
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Singer Capital Markets (Nominated Adviser) |
02074 963000 |
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Shaun Dobson Alex Bond Oliver Platts |
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IFC Advisory Ltd |
020 3934 6630 |
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Graham Herring Tim Metcalfe Zach Cohen |
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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.
Business units
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Hayward Tyler - Luton & East Kilbride, UK and USA, China and India Specialises in the design, manufacture and servicing of performance-critical motors and pumps for challenging environments.
Energy Steel, Inc - Rochester Hills, Michigan, USA Provider of custom fabrications for the nuclear industry, specialising in: OEM parts obsolescence; custom fabrications; engineering design solutions; product refurbishment; on-site technical support.
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.
Booth Industries - Bolton, UK Designs, manufactures, installs and services doors and walls which can be tailored to be: blast &explosion proof; fireproof; acoustically shielded; high security/safety; or combinations of the above.
Ormandy Group, Bradford, UK Design, manufacturers and servicing of off-site plant, heat exchangers and other HVAC (heating, ventilation and air conditioning) products.
Composite Products Ltd - Buckingham, UK Centre for composite technology, parts and assemblies, serving customers in industrial markets.
Magnetica Ltd - Brisbane, Australia Magnetica Limited specialises in the development of next generation MRI technologies, including dedicated extremity MRI systems and MRI system components. Magnetica has successfully built and tested a compact, integrated 3 Tesla orthopaedic MRI system, demonstrating clinical-quality imaging. Commercialisation of this system (and others) is on-going. Magnetica's structure now includes two other business units:
Scientific Magnetics - Abingdon, UK Designs and manufactures superconducting magnet systems and associated cryogenics for a variety of markets including MRI and provides services for Nuclear Magnetic Resonance instruments.
Tecmag Inc, Houston, USA Designs, manufactures and installs instrumentation, including consoles, system upgrades, and probes, mainly for Magnetic Resonance Imaging (MRI) and Nuclear Magnetic Resonance (NMR) systems.
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a)
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Name |
Steve McQuillan |
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2
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Reason for the notification
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a)
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Position/status |
Chief Executive Officer |
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Initial notification /Amendment |
Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a)
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Name |
Avingtrans PLC |
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b)
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LEI |
213800ZZ96CKPI423E86
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4
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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
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a)
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Description of the financial instrument, type of instrument |
Options over Ordinary Shares of 5p each |
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Identification code |
ISIN: GB0009188797
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b)
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Nature of the transaction |
Award of ordinary shares pursuant to the Company Share Option Plan
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c)
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Price(s) and volume(s) |
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d)
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Aggregated information |
n/a |
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- Aggregated volume |
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- Price |
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e)
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Date of the transaction |
26 January 2023 |
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f)
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Place of the transaction |
Off market |
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1 |
Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Stephen King |
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2
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Reason for the notification
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a)
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Position/status
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Chief Financial Officer |
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Initial notification /Amendment
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Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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Avingtrans PLC |
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b)
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LEI
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213800ZZ96CKPI423E86
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4
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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
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a)
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Description of the financial instrument, type of instrument |
Options over Ordinary Shares of 5p each |
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Identification code |
ISIN: GB0009188797
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b)
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Nature of the transaction
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Award of ordinary shares pursuant to the Company Share Option Plan
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c)
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Price(s) and volume(s) |
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d)
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Aggregated information |
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- Aggregated volume |
N/A |
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- Price |
N/A |
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e)
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Date of the transaction
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26 January 2023 |
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f)
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Place of the transaction
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Off-market |
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a)
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Name |
Austen Adams |
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2
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Reason for the notification
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a)
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Position/status |
Managing Director, PSRE Division |
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Initial notification /Amendment |
Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a)
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Name |
Avingtrans PLC |
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b)
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LEI |
213800ZZ96CKPI423E86
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4
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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
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a)
|
Description of the financial instrument, type of instrument |
Options over Ordinary Shares of 5p each |
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Identification code |
ISIN: GB0009188797
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b)
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Nature of the transaction |
Award of ordinary shares pursuant to the Company Share Option Plan
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c)
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Price(s) and volume(s) |
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d)
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Aggregated information |
n/a |
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- Aggregated volume |
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- Price |
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e)
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Date of the transaction |
26 January 2023 |
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f)
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Place of the transaction |
Off market |
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