Employee & PDMR Share Incentive Awards
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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.
Business units
| 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 notification /Amendment | Initial notification | |
| a) | Name | Avingtrans PLC |
| b) | LEI | 213800ZZ96CKPI423E86 |
| a) | Description of the financial instrument, type of instrument | Options over Ordinary Shares of 5p each |
| Identification code | ISIN: GB0009188797 | |
| b) | Nature of the transaction | Award of ordinary shares pursuant to the Company Share Option Plan |
| c) | Price(s) and volume(s) | |
| Exercise Price(s) Volume(s) 390.0 pence 180,000 | ||
| d) | Aggregated information | n/a |
| - Aggregated volume | ||
| - Price | ||
| e) | Date of the transaction | 21 November 2023 |
| f) | Place of the transaction | Off market |
| 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 notification /Amendment | Initial notification | |
| a) | Name | Avingtrans PLC |
| b) | LEI | 213800ZZ96CKPI423E86 |
| a) | Description of the financial instrument, type of instrument | Options over Ordinary Shares of 5p each |
| Identification code | ISIN: GB0009188797 | |
| b) | Nature of the transaction | Award of ordinary shares pursuant to the Company Share Option Plan |
| c) | Price(s) and volume(s) | |
| Exercise Price(s) Volume(s) 390.0 pence 160,000 | ||
| d) | Aggregated information | |
| - Aggregated volume | N/A | |
| - Price | N/A | |
| e) | Date of the transaction | 21 November 2023 |
| f) | Place of the transaction | Off-market |
| 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 notification /Amendment | Initial notification | |
| a) | Name | Avingtrans PLC |
| b) | LEI | 213800ZZ96CKPI423E86 |
| a) | Description of the financial instrument, type of instrument | Options over Ordinary Shares of 5p each |
| Identification code | ISIN: GB0009188797 | |
| b) | Nature of the transaction | Award of ordinary shares pursuant to the Company Share Option Plan |
| c) | Price(s) and volume(s) | |
| Exercise Price(s) Volume(s) 390.0 pence 110,000 | ||
| d) | Aggregated information | n/a |
| - Aggregated volume | ||
| - Price | ||
| e) | Date of the transaction | 21 November 2023 |
| f) | Place of the transaction | Off market |
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