Avingtrans PLC Employee & PDMR Share Incentive Awards (1959U)
November 22 2023 - 2:00AM
UK Regulatory
TIDMAVG
RNS Number : 1959U
Avingtrans PLC
22 November 2023
22 November 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 21 November 2023, the Board of Avingtrans, in accordance
with the Company's Share Option Plan, granted options over 606,000
ordinary shares of 5p each in the Company ("Ordinary Shares") with
an exercise price of 390.0 pence per Ordinary Share (the "Option
Awards"). The following Option Awards were granted to
Directors:
Director Number of Ordinary Shares subject
to Option Awards
Steve McQuillan 180,000
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:
Avingtrans plc
Roger McDowell, Chairman
Steve McQuillan, Chief Executive Officer
Stephen King, Chief Financial Officer 01354 692 391
Singer Capital Markets (Nominated Adviser
and Broker)
Shaun Dobson
Alex Bond
Oliver Platts 020 7496 3000
IFC Advisory (Financial PR)
Graham Herring
Tim Metcalfe
Zach Cohen 020 3934 6630
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
Hayward Tyler - Luton, East Kilbride & Nottingham, UK, 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
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 and 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.
Adaptix Ltd - Oxford, UK
Adaptix has developed novel 3D X-ray for Orthopaedic and Veterinary
applications amongst others. Commercialisation of this system
(and others) is on-going.
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.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Steve McQuillan
-------------------------- ------------------------------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
-------------------------- ------------------------------------------------------------------
Initial Initial notification
notification
/Amendment
-------------------------- ------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------------
a) Name Avingtrans PLC
-------------------------- ------------------------------------------------------------------
b) LEI 213800ZZ96CKPI423E86
-------------------------- ------------------------------------------------------------------
4 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
----------------------------------------------------------------------------------------------
a) Description Options over Ordinary Shares of 5p each
of the financial
instrument,
type of
instrument
Identification ISIN: GB0009188797
code
b) Nature of Award of ordinary shares pursuant to the Company
the transaction Share Option Plan
-------------------------- ------------------------------------------------------------------
c) Price(s)
and volume(s)
------------------------------------------------------------
Exercise Volume(s)
Price(s)
390.0 pence 180,000
----------
-------------------------- ------------------------------------------------------------
d) Aggregated n/a
information
- Aggregated
volume
- Price
e) Date of 21 November 2023
the transaction
-------------------------- ------------------------------------------------------------------
f) Place of Off market
the transaction
-------------------------- ------------------------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Stephen King
-------------------------- ------------------------------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------
a) Position/status Chief Financial Officer
-------------------------- ------------------------------------------------------------------
Initial Initial notification
notification
/Amendment
-------------------------- ------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------------
a) Name Avingtrans PLC
-------------------------- ------------------------------------------------------------------
b) LEI 213800ZZ96CKPI423E86
-------------------------- ------------------------------------------------------------------
4 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
----------------------------------------------------------------------------------------------
a) Description Options over Ordinary Shares of 5p each
of the financial
instrument,
type of
instrument
Identification ISIN: GB0009188797
code
b) Nature of Award of ordinary shares pursuant to the Company
the transaction Share Option Plan
-------------------------- ------------------------------------------------------------------
c) Price(s)
and volume(s)
------------------------------------------------------------
Exercise Volume(s)
Price(s)
390.0 pence 160,000
-------------------------- ------------------------------------------------------------
d) Aggregated
information
- Aggregated N/A
volume
- Price N/A
e) Date of 21 November 2023
the transaction
-------------------------- ------------------------------------------------------------------
f) Place of Off-market
the transaction
-------------------------- ------------------------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Austen Adams
-------------------------- ------------------------------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------------------------------
a) Position/status Managing Director, PSRE Division
-------------------------- ------------------------------------------------------------------
Initial Initial notification
notification
/Amendment
-------------------------- ------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------------
a) Name Avingtrans PLC
-------------------------- ------------------------------------------------------------------
b) LEI 213800ZZ96CKPI423E86
-------------------------- ------------------------------------------------------------------
4 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
----------------------------------------------------------------------------------------------
a) Description Options over Ordinary Shares of 5p each
of the financial
instrument,
type of
instrument
Identification ISIN: GB0009188797
code
b) Nature of Award of ordinary shares pursuant to the Company
the transaction Share Option Plan
-------------------------- ------------------------------------------------------------------
c) Price(s)
and volume(s)
------------------------------------------------------------
Exercise Volume(s)
Price(s)
390.0 pence 110,000
----------
-------------------------- ------------------------------------------------------------
d) Aggregated n/a
information
- Aggregated
volume
- Price
e) Date of 21 November 2023
the transaction
-------------------------- ------------------------------------------------------------------
f) Place of Off market
the transaction
-------------------------- ------------------------------------------------------------------
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END
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