Business
Avation PLC: Underwritten Open Offer
Avation PLC: Underwritten Open Offer.
About this update from Avation Plc
[{"type":"text","content":"\n \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR \nDISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF \nIRELAND, THE REPUBLIC OF SOUTH AFRICA OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE\nUNLAWFUL\n\nTHIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF \nANY OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY NEW ORDINARY SHARES, NOR SHALL IT (OR ANY PART OF IT), OR THE FACT OF ITS \nDISTRIBUTION, FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH OR ACT AS ANY INDUCEMENT TO ENTER INTO, ANY \nCONTRACT OR COMMITMENT WHATSOEVER WITH RESPECT TO THE PROPOSED OPEN OFFER OR OTHERWISE. THIS ANNOUNCEMENT IS NOT A \nCIRCULAR AND INVESTORS SHOULD NOT SUBSCRIBE FOR OR PURCHASE ANY NEW ORDINARY SHARES REFERRED TO IN THIS ANNOUNCEMENT \nEXCEPT SOLELY ON THE BASIS OF INFORMATION IN THE CIRCULAR EXPECTED TO BE PUBLISHED TODAY. COPIES OF THE CIRCULAR WILL, \nFOLLOWING PUBLICATION, BE AVAILABLE FROM THE COMPANY'S REGISTERED OFFICE, CHEYNE HOUSE, CROWN COURT, 62-63 CHEAPSIDE \nLONDON EC2V 6AX UNITED KINGDOM\n\n AVATION PLC\n\n Underwritten Open Offer\n\nAvation PLC (\"Avation\" or the \"Company\") (LSE: AVAP) the specialist provider of leased aircraft services, is pleased \nto announce that it proposes to raise approximately £2.5 million (net of expenses) by way of an underwritten Open \nOffer of 4,337,987 New Ordinary Shares at the Issue Price of 60 pence per New Ordinary Share.\n\nHighlights:\n\n -- Proposed Open Offer to raise approximately £2.5 million (net of expenses);\n -- Issue Price of 60p per New Ordinary Share represents a discount of 20.5% per cent to the closing middle market\n price on 3 May 2013 (being the last dealing day prior to this announcement);\n -- Qualifying Shareholders can subscribe for a Basic Entitlement of 0.0975 New Ordinary Shares for every 1 Existing\n Ordinary Share held as at 5pm on 3 May 2013;\n -- Qualifying Shareholders who take up their full Basic Entitlement can additionally apply for Excess Shares through \n the Excess Application Facility at a ratio of one Excess Share for each Existing Ordinary Share (the level of \n Excess Shares available, if any, will depend on take up of Basic Entitlements ...