The Board of Directors of Avation PLC (the Company) has determined that future dividend payments of the Company will be made by default in US Dollars (USD).
The Company’s functional currency is USD and its assets, liabilities and revenues are denominated in USD. Recognising that the Company’s business is USD denominated and to reduce exchange rate volatility risk to shareholders, future dividends will be declared and paid in USD.
Shareholders who prefer to receive dividends in British Pounds (GBP) can elect to receive GBP (see link below). For shareholders who elect for GBP dividend payment the exchange rate for conversion of the USD dividend to GBP will be published by the Company in advance of payment. The default option for payment of dividends will be USD cheque and shareholders who do not elect to receive GBP will be paid dividends in USD in future.
Shareholders who wish to make the election to receive dividends in GBP should complete the form which can be found here and return this to the Company’s registrar details of which are given in the form.