TR-1: Notification of Major Interest In Shares

--------------------------------------------------------------------------------------------------------------------- For filings with the FSA include the annex For filings with issuer exclude the annex --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i) --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- 1. Identity of the issuer or the underlying issuer Avation PLC of existing shares to which voting rights are (ISIN GB00B196F554) attached: (ii) --------------------------------------------------------------------------------------------------------------------- 2. Reason for the notification (please tick the appropriate box or boxes): --------------------------------------------------------------------------------------------------------------------- An acquisition or disposal of voting rights ------------------------------------------------------------------------------------------------------------------=== An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares X already issued to which voting rights are attached ------------------------------------------------------------------------------------------------------------------=== An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments --------------------------------------------------------------------------------------------------------------------- An event changing the breakdown of voting rights --------------------------------------------------------------------------------------------------------------------- Other (please specify): --------------------------------------------------------------------------------------------------------------------- 3. Full name of person(s) subject to the Bennelong Asset Management LLP notification obligation: (iii) --------------------------------------------------------------------------------------------------------------------- 4. Full name of shareholder(s) Bennelong Asia Pacific Multi Strategy Equity Master Fund (if different from 3.):(iv) Limited --------------------------------------------------------------------------------------------------------------------- 5. Date of the transaction and date on 19th September 2013 which the threshold is crossed or reached: (v) --------------------------------------------------------------------------------------------------------------------- 6. Date on which issuer notified: 19th September 2013 --------------------------------------------------------------------------------------------------------------------- 7. Threshold(s) that is/are crossed or From 7.4% to 6.4% reached: (vi, vii) --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- 8. Notified details: --------------------------------------------------------------------------------------------------------------------- A: Voting rights attached to shares (viii, ix) --------------------------------------------------------------------------------------------------------------------- Class/type of Situation previous Resulting situation after the triggering transaction shares to the triggering transaction if possible using ---------------------------------------------------------------------------------------------- the ISIN CODE Number Number Number Number of voting % of voting rights (x) of of of shares rights Shares Voting Rights ---------------------------------------------------------------- Direct Direct (xi) Indirect (xii) Direct Indirect --------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- B: Qualifying Financial Instruments --------------------------------------------------------------------------------------------------------------------- Resulting situation after the triggering transaction --------------------------------------------------------------------------------------------------------------------- Type of financial Expiration Exercise/ Number of voting % of voting instrument date xiii Conversion Period (xiv) rights that may be rights acquired if the instrument is exercised/converted. --------------------------------------------------------------------------------------------------------------------- Contract for Difference 3,120,000 6.4% --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- C: Financial Instruments with similar economic effect to Qualifying Financial Instruments (xv, xvi) --------------------------------------------------------------------------------------------------------------------- Resulting situation after the triggering transaction --------------------------------------------------------------------------------------------------------------------- Type of financial Exercise Expiration Exercise/ Number of voting rights % of voting rights (xix, instrument price date xvii Conversion instrument refers to xx) period (xviii) --------------------------------------------------------------------------------------------------------------------- Nominal Delta ------------------- --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- Total (A+B+C) --------------------------------------------------------------------------------------------------------------------- Number of voting rights Percentage of voting rights --------------------------------------------------------------------------------------------------------------------- 3,120,000 6.4% --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: (xxi) --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- Proxy Voting: --------------------------------------------------------------------------------------------------------------------- 10. Name of the proxy holder: n/a --------------------------------------------------------------------------------------------------------------------- 11. Number of voting rights proxy holder will cease n/a to hold: --------------------------------------------------------------------------------------------------------------------- 12. Date on which proxy holder will cease to hold n/a voting rights: --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- 13. Additional information: --------------------------------------------------------------------------------------------------------------------- 14. Contact name: Mark Konda/Philippa Jones --------------------------------------------------------------------------------------------------------------------- 15. Contact telephone number: 02071900881/02071900842 --------------------------------------------------------------------------------------------------------------------- Avation plc