AB Dynamics PLC Exercise of Options and Dealing by a Director (7039O)

TIDMABDP

RNS Number : 7039O

AB Dynamics PLC

02 June 2020

2 June 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 Matthew Hubbard, Chief Technology Officer of the Company (the "Option Exercise") in respect of a total of 16,162 new ordinary shares of 1 pence each in the Company (the "New Ordinary Shares").

The options were exercised on 1 June 2020 and the exercise price of the options is 395 pence each.

Disposal of Ordinary Shares

On 1 June 2020, Mr Hubbard sold 10,600 ordinary shares at a price of 1,690 pence per ordinary share to facilitate the exercise cost and associated tax liability of the exercise. Following this, Mr Hubbard's shareholding in the Company has increased by 5,562 shares, his total shareholding (including the shareholding of persons closely associated with him) is 122,168 ordinary shares, representing 0.54 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 376,746 ordinary shares of GBP0.01 each in the Company ("Ordinary Shares"), which was announced on 10 September 2019. They were admitted to trading on AIM ("Admission") on 13 September 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 22,565,232 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                           Matthew James Hubbard 
     -----------------------------  ------------------------------- 
 2    Reason for the notification 
     -------------------------------------------------------------- 
 a)   Position/status                Director of AB Dynamics plc 
     -----------------------------  ------------------------------- 
 b)   Initial notification/          Initial notification 
       Amendment 
     -----------------------------  ------------------------------- 
 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             Options over Ordinary Shares 
       financial instrument, 
       type of instrument 
      Identification code            ISIN: GB00B9GQVG73 
     -----------------------------  ------------------------------- 
 b)   Nature of the transaction      Exercise of Options 
     -----------------------------  ------------------------------- 
 c)   Price(s) and volume(s)           Price(s)   Volume(s) 
                                        395p       16,162 
                                                  ---------- 
     -----------------------------  ------------------------------- 
 d)   Aggregated information 
      - Aggregated volume            N/A 
      - Price 
     -----------------------------  ------------------------------- 
 e)   Date of the transaction        1 June 2020 
     -----------------------------  ------------------------------- 
 f)   Place of the transaction       London Stock Exchange 
     -----------------------------  ------------------------------- 
 
 
 1    Details of the relevant person / person closely associated 
 a)   Name                           Matthew James Hubbard 
     -----------------------------  ------------------------------- 
 2    Reason for the notification 
     -------------------------------------------------------------- 
 a)   Position/status                Director of AB Dynamics plc 
     -----------------------------  ------------------------------- 
 b)   Initial notification/          Initial notification 
       Amendment 
     -----------------------------  ------------------------------- 
 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             Ordinary Shares 
       financial instrument, 
       type of instrument 
      Identification code            ISIN: GB00B9GQVG73 
     -----------------------------  ------------------------------- 
 b)   Nature of the transaction      Disposal of ordinary shares 
     -----------------------------  ------------------------------- 
 c)   Price(s) and volume(s)           Price(s)   Volume(s) 
                                        1,690p     10,600 
                                                  ---------- 
     -----------------------------  ------------------------------- 
 d)   Aggregated information 
      - Aggregated volume            N/A 
      - Price 
     -----------------------------  ------------------------------- 
 e)   Date of the transaction        1 June 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 [e-mail] or visit www.rns.com.

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June 02, 2020 07:10 ET (11:10 GMT)