Avation plc
LSE : AVAP

December 09, 2011 04:34 ET

Placing of Equity

                                                                                         09 December 2011
                                                    
                                               Avation PLC
                                      ("AVATION" or the "COMPANY")

                                            Placing of Equity
                                                    
Avation  PLC,  is pleased to announce that it has raised £2 million before expenses from a placing  ('the
Placing') of 1,818,182 ordinary shares of the Company ('the Placing Shares') at a price of 110 pence  per
share.   The placing is conditional only on admission of the Placing Shares to the Official List  and  to
trading   on  the  London  Stock  Exchange's  main  market  for  listed  securities  becoming   effective
('Admission').

The  Net Proceeds of the Placing are intended to be used by the Company to fund payments associated  with
the exercise of five aircraft options over ATR72 aircraft as announced on 6 December 2011 and for general
working capital purposes.
 
The  Placing  Shares  will be issued fully paid and rank pari passu in all respects  with  the  Company's
existing ordinary shares in issue.  Following Admission the Company's total issued share capital will  be
40,425,402 ordinary shares.  The Placing Shares will represent approximately 4.5% of the enlarged  issued
share  capital of the Company. For the purposes of calculating Total Voting Rights shareholders  may  use
the number 40,425,402 as the total number of shares in issue from the date of Admission.

Application will be made for the Placing 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 Placing Shares will  commence  at
8:00 a.m. on 14 December 2011.

                                              --- Ends ---



ENQUIRIES:


Avation PLC
Jeff Chatfield, Chairman                                                            +44 7783 942 553

W H IRELAND
Harry Ansell / James Joyce                                                          +44 20 7220 1666

Financial Public Relations
Bishopsgate Communications                                                          +44 207 562 3350
Nick Rome/Shabnam Bashir

Websites
www.avation.net

Contact Information

  • Avation plc