Avingtrans PLC Exercise of Share Options (1645D)

TIDMAVG

RNS Number : 1645D

Avingtrans PLC

04 July 2016

Avingtrans Plc

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

Exercise of Share Options

Avingtrans (AIM:AVG), a manufacturer of critical components and associated services to the global aerospace, energy and medical sectors announces it was notified on 1 July 2016 of the transactions described below in the ordinary shares of the Company by the directors.

On 1 July 2016, the Company was notified of the vesting and exercise of certain option awards over ordinary shares of 5p each in the Company ("Ordinary Shares") in the Executive Shared Ownership Plan ("the ExSOP "). The option awards were issued to the directors in December 2012 and 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 Steve McQuillan and Stephen King and the subsequent beneficial holdings of each director following the transactions are set out below:

 
 Director           Number        Number of           Beneficial         Percentage 
                     of Options    Ordinary            interest           interest 
                                   Shares which        in Ordinary        in Ordinary 
                                   have vested         Shares after       Shares after 
                                   to each Director    the transaction    the transaction 
 Steve McQuillan    145,000       71,141              431,707            1.55% 
 
 Stephen 
  King              95,000        44,157              360,495            1.30% 
 
 

For further information, please contact:

Enquiries:

 
 Avingtrans plc 
  Steve McQuillan, CEO 
  Stephen King, CFO            0115 949 9020 
 Numis Securities Limited 
  Tom Ballard (Corporate 
  Broking) 
  Richard Thomas (Corporate 
  Finance and Nominated 
  Adviser)                     020 7260 1000 
 Newgate 
  (Financial PR) 
  Adam Lloyd 
  Ed Treadwell                 020 7653 9850 
 

About Avingtrans

 
 Avingtrans plc is engaged in the provision of 
  highly engineered components, systems and services 
  to the energy, medical and traffic management 
  industries worldwide. 
 
   Energy and medical, engaged in the design and 
   manufacture of safety critical equipment for 
   the energy, medical, science and research communities, 
   including oil and gas extraction and processing 
   equipment, nuclear process plant, machined and 
   fabricated pressure and vacuum vessels and components. 
   Also, design and manufacture of fabricated poles 
   and cabinets for roadside safety cameras and 
   rail track signalling. 
   The strategy of the group, is to "buy and build" 
   in regulated engineering niche markets, where 
   we can see potential consolidation opportunities, 
   which can lead to significantly increased shareholder 
   value over the medium to long term. 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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July 04, 2016 08:16 ET (12:16 GMT)