Director Shareholding
Updated : 17:52
23 January 2018
Avingtrans Plc
("Avingtrans" or the "Company" or the "Group")
Directors Shareholding
Avingtrans plc, which designs, manufactures and supplies critical components, modules and associated services to the energy and medical sectors, announces that Ewan Lloyd-Baker, non-executive director of the Company, has entered into a sale and repurchase agreement with Equities First Holdings ("EFH"), a securities based capital provider of finance for private and institutional investors (the "Agreement"), in respect of 300,000 ordinary shares (the "Transferred Shares") of his total shareholding of 775,993 ordinary shares in the Company, as security for a loan to satisfy a personal tax liability.
Under the terms of the Agreement, Mr Lloyd-Baker has transferred the Transferred Shares to EFH for consideration to be determined by the average of the last sale price of the ordinary shares as reported on Bloomberg over the three trading days upon and following receipt of the Transferred Shares by EFH.
Mr Lloyd-Baker is required to redeem the Transferred Shares at maturity when the loan is repaid at the end of the two year term. Under the terms of the Agreement, EFH is prohibited from short selling or voting the shares during the term of the loan.
Enquiries:
Avingtrans plc Steve McQuillan, CEO Stephen King, CFO
| 0135 469 2391 |
N+1 Singer Shaun Dobson Lauren Kettle
| 020 7496 3000 |
Newgate Communications James Browne | 020 7653 9850 |
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| Ewan Lloyd- Baker | ||||
2
| Reason for the notification | |||||
a)
| Position/status
| Non-Executive Director | ||||
b)
| Initial notification /Amendment
| Initial | ||||
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 of the financial instrument, type of instrument
Identification code
|
Ordinary Shares of 5p each
GB0009188797
| ||||
b)
| Nature of the transaction
| Pledge of shares as security in relation to a personal loan
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price | N/A (individual transaction)
| ||||
e)
| Date of the transaction
| 23 January 2018 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
About Avingtrans
Avingtrans is engaged in the provision of highly engineered components, systems and services to the energy, medical and traffic management industries worldwide.
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