("AVAP" or "the Company")
WARRANT ISSUE AND DIRECTORS' DEALING
Avation PLC (AVAP: LSE), the commercial passenger aircraft leasing company announces that share warrants have been granted to directors and other employees of the Company as set out below.
The grant of warrants is pursuant to the authorities and powers given by shareholders at the Company's 2017 annual general meeting which have not been previously exercised. The warrants have been granted subject to the Company's Remuneration Policy as long-term incentives.
The warrants were granted by the board on 6 September 2018 at an exercise price of 232 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.
Details of the warrants granted are as follows:
Robert Jefferies Chatfield, Executive Chairman 760,000
Roderick Douglas Mahoney, Chief Commercial Officer 450,000
A further 1,125,000 warrants have been granted to other employees on the same terms, with a three-year vesting period and exercise price.
More information on Avation can be seen at: www.avation.net
Avation PLC - Jeff Chatfield, Executive Chairman +65 6252 2077
Notes to Editors:
Avation PLC is a commercial passenger aircraft leasing company, headquartered in Singapore, owning and managing a fleet of jet and turboprop aircraft which it leases to airlines across the world. The Company's customers now include airBaltic, Air France, Air India, DAT, easyJet, EVA Air, Flybe, Fiji Airways, Galistair, Mandarin Airlines, Philippine Airlines, Thomas Cook, Virgin Australia, and Vietjet Air. More information on Avation is available at www.avation.net.
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