Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company advises that 620,000 share warrants have been granted to directors and other employees of the Company.

The grant of warrants is pursuant to the authorities and powers given by shareholders at the Company's last annual general meeting. The warrants have been granted subject to the Company's Remuneration Policy as long-term incentives. The warrants were granted by the board at an exercise price of 118 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.

A further 100,000 warrants have been granted to other staff members on the same terms, with a three-year vesting period (the first tranche vesting on the anniversary of the date of grant) and the same exercise price.

Warrants in Issue

Following the above issue of Warrants, the total number of Warrants in issue to staff is 8,130,000. There are also 5,857,408 bondholder listed warrants (under code: AVAW.L). Assuming full exercise of all staff and bondholder warrants, this equates to 16.49% of the issued capital on exercise of warrants.

Share Capital and Voting Rights

There are 70,883,124 ordinary shares of the Company in issue. The Company currently holds 30,000 ordinary shares in treasury. Accordingly, there are 70,853,124 total voting rights for the purpose of calculating shareholders' percentage voting rights.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.


Jeff Chatfield

Tel: +65 6252 2077

Notes to Editors: Avation PLC is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to airlines around the world. More information on Avation is available at www.avation.net.

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