("Avation" or "the Company")
PLACING OF NEW ORDINARY SHARES
The Board of Avation PLC (LSE: AVAP), announces that it has conditionally raised £4,562,748.95 before expenses from a placing (the "Placing") of 2,943,709 new ordinary shares in the capital of the Company (the "Placing Shares"), at a price of 155 pence per share, through W H Ireland Limited ("WH Ireland"). The Placing is conditional, inter alia, on the Placing Shares being admitted to the standard segment of the Official List and admitted to trading on the London Stock Exchange's main market for listed securities ("Admission") and subject to a placing agreement between the Company and WH Ireland.
Application will be made for the new ordinary shares to be listed on the standard segment of the Official List 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 at 8.00 a.m. on 11 October 2016.
The Placing 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. The Placing Shares will represent 5.3% of the enlarged issued share capital of the Company following Admission.
Following Admission and including the shares allotted on 29 September 2016 for which Admission will take place concurrently with the Placing Shares, there will be a total of 58,928,936 ordinary shares in issue, of those 600 remain in treasury. For the purposes of calculating Total Voting Rights shareholders may use the number 58,928,336 as the total number of shares in issue from the date of Admission.
More information on Avation can be seen at: www.avation.net
Jeff Chatfield, Executive Chairman
T: +65 6252 2077
Notes to Editors:
Avation PLC is a commercial passenger aircraft leasing company owning and managing a fleet of jet and turbo prop aircraft which it leases to airlines across the world. The Company's customers include Vietjet Air, Thomas Cook, Air France, Condor, Air Berlin, Flybe, Air India, Virgin Australia, Fiji Airways and UNI Air.
This information is provided by RNS