Business
Further re Admission to Official List
Further re Admission to Official List.
About this update from Avation Plc
[{"type":"text","content":"\n \n\n 01 October 2010\n\n AVATION PLC\n (\"AVATION\" or \"THE COMPANY\")\n\n AVATION MOVE TO LSE STANDARD LISTING\n\nThe Board of Avation Plc, the specialist aircraft leasing business, quoted on the PLUS market is\npleased to announce that it is proceeding with its proposed move from the PLUS-quoted market to\nthe Main Market of the London Stock Exchange (\"LSE\") as a Standard Listing and has today published\nits prospectus in this regard.\n\nThe Company's Ordinary Shares are expected to be admitted to and commence trading on the LSE on\n6th October 2010 (\"Admission\"). The prospectus can be found on the Company's website\nwww.avation.net/prospectus or a hard copy can be obtained from the Company or its advisors.\n\nAll the Ordinary Shares of the Company will be withdrawn from quotation on the PLUS-quoted market\nwhen trading on the LSE commences. Following Admission it is intended that the Ordinary Shares\nwill also be capable of being traded through the PLUS-traded platform.\n\nThe dealing codes for the Ordinary Shares on the LSE will be as follows:\n\n - ISIN: GB00B196F554\n - Ticker/Symbol: AVAP\n\nThis announcement is made pursuant to Rule 71 and Appendix 7 of the PLUS Rules for Issuers and\nsets out the Company's intention to withdraw its securities from the PLUS-quoted market. The\nCompany has made application for its shares to be admitted to the Official List and to trading on\nthe LSE as a Standard Listing. Accordingly, pursuant to paragraph (f) of Appendix 7 of the PLUS\nRules for Issuers, no shareholder approval is required for the withdrawal of its securities from\nthe PLUS-quoted Market.\n\nChairman Jeff Chatfield commented:\n\n\"The Company's balance sheet has grown significantly since admission to PLUS in November 2006.\nWhilst this is good, we feel that the current share price doesn't truly reflect the Company's\nvalue. We believe a move to the Main Market should promote a greater correlation between the\nCompany's financial performance and its share price and also improve market liquidity.\n\n\"Additionally, the profile of Avation will be raised, facilitating growth and, in being a company\non the Main Market, the Board considers that raising new debt or equity finance, if required, in\nthe future will be easier than had the Company remained on PLUS.\"\n\n The Directors take responsibility for the contents o...