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AVINGTRANS PLC (AVG)

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Avingtrans plc : - Award of Options, Issue of Equity & Total Voting Rights

12/19/2012 | 05:36am US/Eastern
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                                AVINGTRANS PLC                                 
           Award of Options, Issue of Equity and Total Voting Rights           

Avingtrans plc ("Avingtrans" or "the Company") announces that the Company has today, under the terms of the Company's CSOP share scheme (the "CSOP") and its Executive Shared Ownership Plan ("the ExSOP "), made a grant of awards over ordinary shares of 5p each in the Company ("Ordinary Shares") to directors and senior managers, as set out below.

Awards under the CSOP

On 19 December 2012, the Board of Avingtrans, in accordance with the Company's CSOP, granted options over 189,000 Ordinary Shares at an option price of 96.0 penceper share. The following were issued to Directors:

Name                         Number of options over     Total number of options
                            Ordinary Shares granted    over Ordinary Shares now
                                                                           held
                                                                               
S McQuillan                                  30,000                      30,000
                                                                               
SM King                                      30,000                     105,000
                                                                               
PJ Kenny                                     20,000                      75,000

All of the options granted may not be exercised until 3 years from the date of grant and are subject to a performance condition. The performance condition for each of these options is that the increase in adjusted EPS must be at least equal to the increase in RPI over the vesting period.

Awards under the ExSOP

On 18 December 2012, the Board of Avingtrans, in accordance with the Company's ExSOP, granted options over 330,000 Ordinary Shares at an option price of 96.0 penceper share. The following were issued to Directors:

Director                        Number of Ordinary   Beneficial interest in
                          Shares subject to awards          Ordinary Shares
                                                                           
Stephen McQuillan                          145,000                  150,000
                                                                           
Stephen King                                95,000                  135,000
                                                                           
Peter Kenny                                 25,000                   40,000

Furthermore, one senior manager has been granted awards over a total of 85,000 Ordinary Shares.

Consequently, in order to satisfy the awards under the ExSOP, application has been made for admission to trading on AIM of a total of 330,000 Ordinary Shares ("Admission"). It is expected that Admission will be effective on 21 December 2012.

Under the provisions of the ExSOP, Ordinary Shares are jointly owned between the individuals above and by an employees' share trust, on terms, similar to a share option scheme, whereby the participant can benefit only from the future growth in the value of the Ordinary Shares above the closing market value of the shares on the award date (being therefore the closing market value on 18 December 2012) in excess of a carrying cost.

Awards are subject to a performance and participants may not normally realise any such benefit before 21 December 2015. The performance condition for each of the ExSOP options is that the increase in adjusted EPS must be at least equal to the increase in RPI over the vesting period

Subsequent to issue of the Ordinary Shares as above, the Company's total issued share capital is 26,959,397 Ordinary Shares. Avingtrans does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in Avingtrans is 26,959,397.

The above figure 26,959,397 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Avingtrans under the FSA's Disclosure and Transparency Rules.

Enquiries:
Avingtrans plc 0115 949 9020
Steve McQuillan, CEO

Numis Securities Limited 020 7260 1000

David Poutney(Corporate Broking)

Richard Thomas(Corporate Finance and Nominated Adviser)

                                                                             
Newgate Threadneedle                               
                                 020 7653 9850
(Financial PR)
Josh Royston
Heather Armstrong
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