Business
EXERCISE OF WARRANTS AND DIRECTORS' DEALING
EXERCISE OF WARRANTS AND DIRECTORS' DEALING.
About this update from Avation Plc
[{"type":"text","content":"\n \n \n \n Via RNS and SGXNET\n \n \n \n \n AVATION PLC\n \n \n \n \n (\"Avation\" or \"the Company\")\n \n \n \n \n EXERCISE OF WARRANTS AND DIRECTORS' DEALING\n \n \n \n The Board of Avation PLC (LSE: AVAP), announces that on 23 March 2023, the Company allotted 684,000 fully paid new ordinary shares representing approximately 0.97 per cent of the enlarged capital of the Company pursuant to the exercise of 2019 series staff share warrants at a price of 101.25 pence per share respectively, conditional only on admission of the new shares to the Official List and to trading on the London Stock Exchange's main market for listed securities becoming effective (\"Admission\"). The exercise of these warrants provides the Company with £692,550.00 in subscription proceeds which the Company will use for general corporate purposes.\n \n \n Application will be made for the new ordinary shares to be listed on the standard segment of the Official List of the UK Listing Authority and to be admitted to trading on the London Stock Exchange's main market for listed securities. It is expected that Admission will become effective and that dealings in the new ordinary shares will commence on or around 29 March 2023.\n \n \n The new ordinary shares will, when issued, rank pari passu in all respects with the existing ordinary shares including the right to receive dividends and other distributions declared Following Admission.\n \n \n Following Admission, there will be a total of 70,883,124 ordinary shares in issue. Following Admission there will be 70,883,124 total voting rights for the purpose of calculating shareholders' percentage voting rights.\n \n \n \n DIRECTORS' DEALING\n \n \n \n Robert Jeffries Chatfield, a director, subscribed via a company in which he is interested for 300,000 ordinary shares as part of this allotment. Accordingly, his direct and indirect holdings in ordinary shares will increase to 12,530,001 on Admission becoming effective, which represents 17.68 per cent of the enlarged share capital.\n \n \n Roderick Douglas Mahoney, a director, subscribed for 120,000 ordinary shares as part of this allotment. In addition to this subscription Mr Mahoney has sold 138,000 shares through the market at an average price of 129.39 pence per share. Accordingly, his direct and indirect holdings in ordinary shares will be 870,000 o...