Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, has announced that, further to its announcement on 9 May 2025, it will continue to consider the repurchase of newly issued US$300 million Avation Group (S) Pte. Ltd. Senior 8.5% Notes due 2031, which were issued under its recently established US$1 billion global medium term note programme.
Avation will update the market on a quarterly basis with a summary of repurchases and other relevant transactions completed in each quarter, save that material transactions will also be announced at the time of completion.
The first quarterly update is expected to be announced in March 2026.
Avation PLC also wishes to set out the process and timetable for the orderly exercise of its listed warrants, the consequent allotment and issue of new ordinary shares and admission of such new ordinary shares to the official list of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange. As the Company is required to pay fees in respect of each application for admission of shares to the LSE, it wishes to aggregate the allotment and admission of new shares arising from the exercise of Listed Warrants on a quarterly basis.
The timetable for the next twelve months will be as follows:
| Exercise Notices to be received no later than: | Subscription Price (if any) to be received no later than: | Application to be made to FCA and LSE no later than*: | Issue and admission of new ordinary shares expected by*: | |
| 1. | 28 November 2025 | 12 December 2025 | 15 December 2025 | 19 December 2025 |
| 2. | 27 February 2026 | 13 March 2026 | 16 March 2026 | 20 March 2026 |
| 3. | 29 May 2026 | 12 June 2026 | 15 June 2026 | 19 June 2026 |
| 4. | 31 August 2026 | 11 September 2026 | 14 September 2026 | 18 September 2026 |
| 5. | 30 October 2026 | 13 November 2026 | 16 November 2026 | 20 November 2026 |
*dates are indicative only. Exercising holders will be communicated confirmed dates in due course.
Please note that the Final Exercise Date of the Listed Warrants is 31 October 2026. Any Listed Warrants not exercised at the Final Exercise Date will lapse and cease to be exercisable.
Should any holders of the Listed Warrants require expedited exercise of the warrants in accordance with the terms of the Warrant Deed, holders remain free to do so, albeit the Company believes that both holders of the Listed Warrants and shareholders in the Company will be best served if the above process and timetable is adhered to.
Further announcements will be made in due course, as we approach the respective exercise dates.
