TIDMAVAP  Issue of Equity on exercise of Warrants by Director (LSE: AVAP)  Singapore, 12 March 2013                                               AVATION PLC                                    ("AVATION" or "THE COMPANY")                          Issue of Equity on exercise of Warrants by Director  The Board of Avation PLC (LSE: AVAP), announces that on 12 March 2013, the Company allotted 50,000 fully paid new ordinary shares pursuant to the exercise of Warrants at a price of sixty-seven  and a  half  pence per share (67.5p), conditional only on admission of the new shares to the  Official List  and  to  trading  on the London Stock Exchange's main market for listed securities  becoming effective (Admission).  Pursuant  to the exercise of the warrants, 50,000 new ordinary shares (representing 0.11%  of  the enlarged issued share capital of the Company) were allotted to Bryant James Mclarty, a director of the Company.  Application will be made for the new ordinary 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  new ordinary shares will commence at 8:00 a.m. on 19 March 2013.  The  Company also advises that on 11 March 2013, Mr Mclarty sold 50,000 shares in the Company off- market at a price of 82.5 pence per share (the Sale).  Following Admission and the Sale, Mr Mclarty will continue to be interested in 0.3% of the Company with 117,300 ordinary shares.  Following  Admission, there will be a total of 44,484,973 ordinary shares in  issue.  For  the purposes  of  calculating Total Voting Rights shareholders may use the number  44,484,973  as  the total number of shares in issue from the date of Admission.                                              ---ENDS---  ENQUIRIES  Avation PLC: Jeff Chatfield (Chairman)                               +65 9735 4151   Media: Cadogan PR Alex Walters                                            +44 (0) 20 7839 9260                                                         +44 (0) 7771 713 608   Avation PLC is registered in England and Wales with an Operational Headquarters in Singapore.  About Avation:  Avation was formed in 2006 as an aircraft lessor. Avation was admitted to the Standard segment  of the Official List of the London Stock Exchange in October 2010. The Company's main activity is  an operating lessor of commercial passenger aircraft to airlines across Europe, the US and Australia. Early in 2011 the company entered into an agreement with Skywest Airlines to provide a fleet of up to  eighteen  new  aircraft  to  operate along the East Coast of Australia  on  behalf  of  Virgin Australia.    Avation plc  

(END) Dow Jones Newswires

March 12, 2013 06:45 ET (10:45 GMT)