Avaw Warrants – Orderly Exercise Process
Avation PLC (LSE: AVAP) has established an orderly, quarterly exercise process for its listed warrants (LSE: AVAW) to manage the allotment and admission of new ordinary shares, aiming to reduce fees paid to the London Stock Exchange. The first exercise window requires notices by 28 November 2025, with new shares expected by 19 December 2025. Subsequent quarterly deadlines are scheduled throughout 2026, leading up to the final exercise date of 31 October 2026, after which any unexercised warrants will lapse. This structured approach is intended to benefit both warrant holders and existing shareholders by efficiently managing potential share dilution and company costs.
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Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company wishes to set out the process and timetable for the orderly exercise of its listed warrants (LSE: AVAW) (the "Listed Warrants"), the consequent allotment and issue of new ordinary shares and admission of such new ordinary shares to the official list of the Financial Conduct Authority ("FCA") and to trading on the main market for listed securities of the London Stock Exchange ("LSE"). As the Company is required to pay fees in respect of each application for admission of shares to the LSE, it wishes to aggregate the allotment and admission of new shares arising from the exercise of Listed Warrants on a quarterly basis.
The timetable for the next twelve months will be as follows:
| Exercise Notices to be received no later than: | Subscription Price (if any) to be received no later than: | Application to be made to FCA and LSE no later than*: | Issue and admission of new ordinary shares expected by*: | |
| 1. | 28 November 2025 | 12 December 2025 | 15 December 2025 | 19 December 2025 |
| 2. | 27 February 2026 | 13 March 2026 | 16 March 2026 | 20 March 2026 |
| 3. | 29 May 2026 | 12 June 2026 | 15 June 2026 | 19 June 2026 |
| 4. | 31 August 2026 | 11 September 2026 | 14 September 2026 | 18 September 2026 |
| 5. | 30 October 2026 | 13 November 2026 | 16 November 2026 | 20 November 2026 |
*dates are indicative only. Exercising holders will be communicated confirmed dates in due course.
Please note that the Final Exercise Date of the Listed Warrants is 31 October 2026. Any Listed Warrants not exercised at the Final Exercise Date will lapse and cease to be exercisable.
Should any holders of the Listed Warrants require expedited exercise of the warrants in accordance with the terms of the Warrant Deed, holders remain free to do so, albeit the Company believes that both holders of the Listed Warrants and shareholders in the Company will be best served if the above process and timetable is adhered to.
Further announcements will be made in due course, as we approach the respective exercise dates.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.