Warrant Grant And Directors’ Dealing
655,000 share warrants granted to directors and employees at 160 pence per share exercise price.
- Warrants granted to directors and staff 655,000
- Exercise price per share 160 pence
- Total staff warrants in issue 4,939,452
- Bondholder warrants in issue 5,742,404
- Dilution from all warrants on exercise 13.86% of issued capital
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Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company advises that 655,000 share warrants have been granted to directors and other employees of the Company as set out below.
The grant of warrants is pursuant to the authorities and powers given by shareholders at the Company's last annual general meeting. The warrants have been granted subject to the Company's Remuneration Policy as long-term incentives. The warrants were granted by the board at an exercise price of 160 pence per share, and each warrant grant is on terms that one third of the warrants will vest at the end of each of the first three years from the date of grant but subject always to clawback under the terms of the Company's Remuneration Policy. The warrants are otherwise granted on customary terms for employee share remuneration.
Details of the warrants granted to directors of the Company are as follows:
| Director | No. of Warrants being issued | Total no. of Warrants held including this issue* | Shareholding upon exercise of total number of Warrants held | % of issued share capital upon exercise of Warrants |
|---|---|---|---|---|
| Robert Jeffries Chatfield | 300,000 | 2,524,001 | 14,905,001 | 19.34 % |
| Mark Stephen Shelton | 70,000 | 248,000 | 272,840 | 0.35 % |
*Warrants are held at different exercise prices
A further 285,000 warrants have been granted to other staff members on the same terms, with a three-year vesting period (the first tranche vesting on the anniversary of the date of grant) and the same exercise price.
Warrants in Issue
Following the above issue of Warrants, the total number of Warrants in issue to staff is 4,939,452. There are also 5,742,404 bondholder listed warrants (under code: AVAW.L). Assuming full exercise of all staff and bondholder warrants, this equates to 13.86% of the issued capital on exercise.
Share Capital and Voting Rights
There are a total of 66,588,757 ordinary shares in issue, with 215,000 held in treasury, and there are 66,373,757 total voting rights for the purpose of calculating shareholders' percentage voting rights.
| 1. | Details of the PDMR / person closely associated | |
| a) | Name | Robert Jeffries Chatfield |
| 2. | Reason for the notification | |
| a) | Position / status | Executive Chairman |
| b) | Initial notification / amendment | Initial notification |
| a) | Name | Avation PLC |
| b) | LEI | 213800KA972GUP1B6I78 |
| a) | Description of the financial instrument, type of instrument Identification code | Warrants to subscribe for ordinary shares N/A |
| b) | Nature of the transaction | Grant of warrants to subscribe for ordinary shares |
| c) | Price(s) and volume(s) | Price(s) Volume(s) Nil 300,000 |
| d) | Aggregated information | See above |
| - Aggregated volume | ||
| - Price | ||
| e) | Date of the transaction | 29 August 2025 |
| f) | Place of the transaction | London Stock Exchange |
| 1. | Details of the PDMR / person closely associated | |
| a) | Name | Mark Stephen Shelton |
| 2. | Reason for the notification | |
| a) | Position / status | Non-executive Director |
| b) | Initial notification / amendment | Initial notification |
| a) | Name | Avation plc |
| b) | LEI | 213800KA972GUP1B6I78 |
| a) | Description of the financial instrument, type of instrument Identification code | Warrants to subscribe for ordinary shares N/A |
| b) | Nature of the transaction | Grant of warrants to subscribe for ordinary shares |
| c) | Price(s) and volume(s) | Price(s) Volume(s) Nil 70,000 |
| d) | Aggregated information | See above |
| - Aggregated volume | ||
| - Price | ||
| e) | Date of the transaction | 29 August 2025 |
| f) | Place of the transaction | London Stock Exchange |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.