Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces that the Company has allotted 239,000 fully paid new ordinary shares representing 0.38 per cent. of the enlarged share capital of the Company pursuant to the exercise of 2015 series staff share warrants at a price of 130 pence per share. The issue is 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").

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 on or prior to 26 January 2018.

Following Admission, there will be a total of 62,616,246 ordinary shares in issue and shareholders may use the same number for the purposes of calculating Total Voting Rights. Warrants are granted to executive employees from time to time under the Company's Remuneration Policy pursuant to a shareholder authority.