Speechly Bircham is delighted to announce that it has advised Avation PLC, the Singapore based aircraft leasing company quoted on the main market of the London Stock Exchange, on its underwritten open offer of new ordinary shares and their admission to trading.

Under the open offer, shareholders took up 70% of available basic entitlements and the excess application facility was 160% over-subscribed.

Duncan Scott, Avation Group General Counsel said: "The Speechlys team was excellent, providing the support and product required to get the open offer finalised within a short timeframe.  Thank you to Tom, Paul and Lianne for their hard work and continued support to Avation"

Speechly Bircham has advised Avation for a number of years: in 2010 we advised on the Company's move from PLUS to a standard listing on the Official List of the UK Listing Authority and have advised on a number of placings since Avation's move to the main market which have been undertaken in order to fund the acquisition of further aircraft.

In addition, in 2007 we advised Capital Lease Aviation PLC, a subsidiary of Avation PLC incorporated for the purpose of owning and leasing a portfolio of commercial jet aircraft to a wide customer base of regional and international airlines, on its admission to AIM valuing the company at £73m. Avation remains its majority shareholder.

The Speechlys team was led by partner Tom Shaw and supported by senior associate Paul Arathoon and associate Lianne Chin.

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