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AB Dynamics PLC - Exercise of Options and Dealing by a Director

RNS Number : 8417L
AB Dynamics PLC
04 May 2020
 

4 May 2020

AB Dynamics plc

("AB Dynamics", the "Company" or the "Group")

 

Exercise of Options and Dealing by a Director

 

AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive market, announces the exercise of options held by Dr James Routh, Chief Executive Officer of the Company (the "Option Exercise") in respect of a total of 33,333 new ordinary shares of 1 pence each in the Company (the "New Ordinary Shares").

 

The options were exercised on 1 May 2020 and the exercise price of the options is 1,230 pence each.

 

Disposal of Ordinary Shares

 

On 1 May 2020, Dr Routh sold 28,900 ordinary shares at a price of 1,750 pence per ordinary share to facilitate the exercise cost and associated tax liability of the exercise. Following this, Dr Routh's shareholding in the Company has increased by 4,433 shares, his total shareholding (including the shareholding of persons closely associated with him) is 6,646 ordinary shares, representing 0.03 per cent. of the Company's issued share capital.

 

The Company has previously applied to list these shares as part of the block listing of 33,333 ordinary shares of £0.01 each in the Company ("Ordinary Shares"), which was announced on 3 December 2019. They were admitted to trading on AIM ("Admission") on 6 December 2019.

 

The New Ordinary Shares will rank pari passu with the existing ordinary shares in the Company. Following Admission, the Company's enlarged issued share capital will comprise 22,549,070 ordinary shares. The Company does not hold any shares in treasury. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change of interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 and has been arranged for release by Felicity Jackson, Company Secretary.

 

Enquiries:

 

AB Dynamics plc

01225 860 200

Tony Best, Chairman

Dr James Routh, Chief Executive Officer

Sarah Matthews-DeMers, Chief Financial Officer

 

 

Cairn Financial Advisers (Nomad)

0207 213 0880

Liam Murray

Tony Rawlinson

Ludovico Lazzaretti

 

 

 

 

Cantor Fitzgerald Europe (Broker)

0207 894 7000

 

Phil Davies, David Foreman (Corporate Finance)

Caspar Shand Kydd, Keith Dowsing, Arthur Gordon (Equity Sales)

 

 

 

 

 

Tulchan Communications

0207 353 4200

James Macey White

Matt Low

 

Deborah Roney

 

 

 

Overview of AB Dynamics plc

AB Dynamics is a leading designer, manufacturer and provider of advanced products for testing and verification of Advanced Driver Assistance Systems ("ADAS") technology, autonomous vehicle development and vehicle dynamics to the global automotive research and development sector. 

AB Dynamics is an international group of companies headquartered in Bradford-on-Avon, UK (the Group).  The Group currently supplies all the top automotive manufacturers, Tier 1 suppliers and service providers, who routinely use the Group's products to test and verify vehicle safety systems and dynamics.

1

Details of the relevant person / person closely associated

a)

Name

James Mathew Routh

2

Reason for the notification

a)

Position/status

Director of AB Dynamics plc

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer

a)

Name

AB Dynamics plc

b)

LEI

213800OFXZP4A7I47K43

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii each type of transaction; (iii each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Options over Ordinary Shares

 

Identification code

ISIN: GB00B9GQVG73

 

b)

Nature of the transaction

Exercise of Options

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

1,230p

33,333

 

 

d)

Aggregated information

 

 

- Aggregated volume

N/A

 

- Price

 

e)

Date of the transaction

1 May 2020

f)

Place of the transaction

London Stock Exchange

 

 

1

Details of the relevant person / person closely associated

a)

Name

James Mathew Routh

2

Reason for the notification

a)

Position/status

Director of AB Dynamics plc

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer

a)

Name

AB Dynamics plc

b)

LEI

213800OFXZP4A7I47K43

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii each type of transaction; (iii each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary Shares

 

Identification code

ISIN: GB00B9GQVG73

 

b)

Nature of the transaction

Disposal of ordinary shares

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

1,750p

28,900

 

 

d)

Aggregated information

 

 

- Aggregated volume

N/A

 

- Price

 

e)

Date of the transaction

1 May 2020

f)

Place of the transaction

London Stock Exchange

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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Quick facts: AB Dynamics PLC

Price: 1885

Market: AIM
Market Cap: £425.57 m
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