Avation PLC (AVAP), the commercial passenger aircraft leasing company, has disclosed a major shareholding notification confirming that Nandeep Singh Bamrah crossed the 3% voting rights threshold on 4 November 2026. The TR-1 form, submitted to Avation on the same date, reveals a combined holding of 2,146,881 ordinary shares, representing 3.54% of the company's total voting rights. The disclosure is the first such notification from this holder, with no previous notification on record. Investors in Avation may now watch whether this position evolves further given the absence of any prior stake.

Key Points

  • Avation PLC (AVAP) — commercial aircraft lessor admitted to trading on AIM
  • Nandeep Singh Bamrah crossed the 3% voting rights threshold on 4 November 2026, triggering a mandatory TR-1 disclosure under DTR5
  • Total holding: 2,146,881 ordinary shares equating to 3.54% of 60,583,757 total voting rights outstanding; no financial instruments held
  • Investors should monitor whether this new substantial shareholder increases, reduces, or maintains the position in subsequent disclosures

Bamrah Holds 3.54% of Avation via Personal and Hunsbury Capital Fund Stakes

The notification confirms that Nandeep Singh Bamrah holds 626,950 ordinary shares directly, representing 1.03% of Avation's voting rights, and a further 1,519,931 shares indirectly through Hunsbury Capital – Belco Special Situations Fund LP, equating to 2.51%. The indirect holding is held via nominees, and the announcement states that Bamrah exercises investment management and voting discretion over the fund's position. Hunsbury Capital – Belco Special Situations Fund LP is registered in Toronto, Canada. The combined direct and indirect total results in a 3.54% stake, calculated on a base of 60,583,757 shares with total voting rights outstanding.

No Financial Instruments Declared Alongside Avation Ordinary Share Position

The TR-1 form confirms that Bamrah holds no financial instruments under DTR5.3.1R(1)(a) or DTR5.3.1R(1)(b) alongside the ordinary share position. Both subtotals for financial instruments are recorded as nil, meaning the entire 3.54% voting rights interest is composed solely of ordinary shares. This distinguishes the holding from more complex disclosed positions that may include options, contracts for difference, or other derivatives. The absence of financial instruments means the voting rights figure and the economic exposure are aligned at this point in time, based solely on the information provided in the disclosure.

First Notification for This Holder in Avation, Completed from Toronto

The announcement states that no previous notification exists for Nandeep Singh Bamrah in relation to Avation PLC, with the "position of previous notification" fields recorded as not applicable. The form was completed in Toronto, Canada on 4 November 2026, the same date the threshold was crossed. The disclosure was made in accordance with the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules Chapter 5. Avation operates as a commercial aircraft lessor, providing passenger aircraft to airlines globally, and is listed on the AIM market of the London Stock Exchange.

Avation's AIM Listing and Aircraft Leasing Model Provide Context for the Disclosure

Avation PLC generates revenue by acquiring and leasing commercial passenger aircraft to airline customers. As an AIM-listed company, it falls under the UK prescribed markets framework, meaning substantial shareholding notifications such as this TR-1 are submitted directly to the issuer rather than mandatorily via the FCA's Electronic Submission System. The 3% threshold crossing brings Bamrah's combined position into the category of a notifiable major holding under DTR5. Investors may be watching whether the new shareholder, whose fund adopts a special situations investment approach based on its name, intends to engage further with the company.