Business
WARRANT GRANT AND DIRECTORS’ DEALING
WARRANT GRANT AND DIRECTORS’ DEALING.
About this update from Avation Plc
[{"type":"text","content":"\n\n Via RNS and SGXNET\nAVATION PLC\n(\"Avation\" or \"the Company\")\n \nWARRANT GRANT AND DIRECTORS' DEALING\nAvation PLC (LSE: AVAP), the commercial passenger aircraft leasing company advises that 620,000 share warrants have been granted to directors and other employees of the Company as set out below.\nThe grant of warrants is pursuant to the authorities and powers given by shareholders at the Company's last annual general meeting. The warrants have been granted subject to the Company's Remuneration Policy as long-term incentives. The warrants were granted by the board at an exercise price of 118 pence per share, and each warrant grant is on terms that one third of the warrants will vest at the end of each of the first three years from the date of grant but subject always to clawback under the terms of the Company's Remuneration Policy. The warrants are otherwise granted on customary terms for employee share remuneration.\nDetails of the warrants granted to directors of the Company are as follows:\n\n\n\n\nDirector\n\n\nNo. of\nWarrants\nbeing issued\n\n\nTotal no. of\nWarrants held\nincluding this issue*\n\n\nShareholding upon\nexercise of total number of Warrants held\n\n\n% of issued share\ncapital upon\nexercise of Warrants\n\n\n\n\nRobert\nJeffries\nChatfield\n\n\n495,000\n\n\n3,225,000\n\n\n15,455,001\n\n\n18.22%\n\n\n\n\nMark Stephen\nShelton\n\n\n25,000\n\n\n118,000\n\n\n141,500\n\n\n0.17%\n\n\n\n\n*Warrants are held at different exercise prices\n \nA further 100,000 warrants have been granted to other staff members on the same terms, with a three-year vesting period (the first tranche vesting on the anniversary of the date of grant) and the same exercise price.\n \nWarrants in Issue\n \nFollowing the above issue of Warrants, the total number of Warrants in issue to staff is 8,130,000. There are also 5,857,408 bondholder listed warrants (under code: AVAW.L). Assuming full exercise of all staff and bondholder warrants, this equates to 16.49% of the issued capital on exercise of warrants.\n \nShare Capital and Voting Rights\n \nThere are 70,883,124 ordinary shares of the Company in issue. The Company currently holds 30,000 ordinary shares in treasury. Accordingly, there are 70,853,124 total voting rights for the purpose of calculating shareholders' percentage voting rights.\n \n...