Directorate Change
Avation PLC announced the retirement of Non-Executive Director Dr Stephen Fisher after over nine years of service, effective November 26, 2025, as part of ongoing succession planning. Separately, the company disclosed that Executive Chairman Robert Jeffries Chatfield exercised warrants to subscribe for 290,242 ordinary shares at nil cost on November 21, 2025, on the London Stock Exchange. Additionally, Director Roderick Douglas Mahoney exercised warrants for 88,784 ordinary shares and Director Mark Stephen Shelton exercised warrants for 16,142 ordinary shares, both also at nil cost on November 21, 2025.
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Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company announces that Dr Stephen Fisher, a Non-Executive Director of the Company since April 2014, has retired from the Board with effect from the conclusion of the Company's Annual General Meeting held on 26 November 2025.
Dr Fisher's retirement follows the completion of more than nine years' service on the Board, consistent with the timeframes referenced in the UK Corporate Governance Code for long-standing non-executive appointments. The Board recognises this natural transition point and has been engaged in ongoing succession planning to ensure continued strong governance and oversight.
The Board wishes to express its sincere thanks to Dr Fisher for his diligent service, commitment, and valuable contribution to the Company, and wishes him well for the future.
| 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 | Ordinary shares of £0.01 each GB00B196F554 (ISIN) |
| b) | Nature of the transaction | Exercise of warrants to subscribe for ordinary shares |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £NIL 290,242 |
| d) | Aggregated information | See above |
| - Aggregated volume | ||
| - Price | ||
| e) | Date of the transaction | 21 November 2025 |
| f) | Place of the transaction | London Stock Exchange |
| 1. | Details of the PDMR / person closely associated | |
| a) | Name | Roderick Douglas Mahoney |
| 2. | Reason for the notification | |
| a) | Position / status | 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 | Ordinary shares of £0.01 each GB00B196F554 (ISIN) |
| b) | Nature of the transaction | Exercise of warrants to subscribe for ordinary shares |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £NIL 88,784 |
| d) | Aggregated information | See above |
| - Aggregated volume | ||
| - Price | ||
| e) | Date of the transaction | 21 November 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 | 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 | Ordinary shares of £0.01 each GB00B196F554 (ISIN) |
| b) | Nature of the transaction | Exercise of warrants to subscribe for ordinary shares |
| c) | Price(s) and volume(s) | Price(s) Volume(s) £NIL 16,142 |
| d) | Aggregated information | See above |
| - Aggregated volume | ||
| - Price | ||
| e) | Date of the transaction | 21 November 2025 |
| f) | Place of the transaction | London Stock Exchange |
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