AB Dynamics PLC Grant of Options & Related Party Transaction (8565V)

TIDMABDP

RNS Number : 8565V

AB Dynamics PLC

05 December 2019

AB Dynamics plc

("AB Dynamics" "ABD" or the "Company")

Grant of Options & Related Party Transaction

London, 5 December 2019 - AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive market, announces that it has granted options over 60,000 new ordinary shares of 1 pence each in the Company to Sarah Matthews-DeMers, the Company's new Chief Financial Officer who joined the board on 4 November 2019, and a further 60,000 options over new ordinary shares of 1 pence each in the Company to Matthew Hubbard the Company's Chief Technology Officer. This grant of 120,000 options represents 0.54 per cent. of the Company's issued share capital.

Sarah Matthews-DeMers has no other options over, or holdings in, the Company's shares. Matthew Hubbard holds 107,649 shares in the Company. This figure remains unchanged.

The options have an exercise price of 2140 pence, being the closing price on 3 December 2019. One half will vest on 4 December 2020 and the remainder on the second anniversary.

Related Party Transactions

The grant of options to Matt Hubbard is a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies.

The Company's independent directors, consider, having consulted the Company's Nominated Adviser, Cairn Financial Advisers LLP, that the terms of the related party transaction is fair and reasonable insofar as the shareholders of the Company are concerned.

Enquires:

 
 AB Dynamics plc                                    01225 860 200 
 Tony Best, Non-Executive Chairman 
 Dr James Routh, Chief Executive Officer 
 Mat Hubbard, Chief Technology Officer 
  Sarah Matthews-DeMers, Chief Financial Officer 
 
 Cantor Fitzgerald Europe (Broker)                  0207 894 7000 
 Phil Davies, David Foreman (Corporate Finance) 
  Caspar Shand Kydd, Keith Dowsing, Arthur 
  Gordon (Equity Sales) 
 
 Cairn Financial Advisers (Nomad)                   0207 213 0880 
 Tony Rawlinson 
  Liam Murray 
  Ludovico Lazzaretti 
 
 
 Tulchan Communications                             0207 353 4200 
 James Macey White 
  Matt Low 
  Deborah Roney 
 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, The person responsible for arranging the release of this information is Felicity Jackson, Company Secretary.

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.

The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.

 
 1    Details of the relevant person / person closely associated 
 a)   Name                            Sarah Matthews-DeMers 
     ------------------------------  ------------------------------- 
 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             GB00B9GQVG73 
     ------------------------------  ------------------------------- 
 b)   Nature of the transaction       Grant of options 
     ------------------------------  ------------------------------- 
 c)   Price(s) and volume(s)             Price(s)    Volume(s) 
                                          GBP21.40    60,000 
                                         ----------  ---------- 
     ------------------------------  ------------------------------- 
 d)   Aggregated information 
      - Aggregated volume             As above 
      - Price                         As above 
     ------------------------------  ------------------------------- 
 e)   Date of the transaction         4 December 2019 
     ------------------------------  ------------------------------- 
 f)   Place of the transaction        AIM 
     ------------------------------  ------------------------------- 
 
 
 1    Details of the relevant person / person closely associated 
 a)   Name                            Matthew 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             GB00B9GQVG73 
     ------------------------------  ------------------------------- 
 b)   Nature of the transaction       Grant of options 
     ------------------------------  ------------------------------- 
 c)   Price(s) and volume(s)             Price(s)    Volume(s) 
                                          GBP21.40    60,000 
                                         ----------  ---------- 
     ------------------------------  ------------------------------- 
 d)   Aggregated information 
      - Aggregated volume             As above 
      - Price                         As above 
     ------------------------------  ------------------------------- 
 e)   Date of the transaction         4 December 2019 
     ------------------------------  ------------------------------- 
 f)   Place of the transaction        AIM 
     ------------------------------  ------------------------------- 
 

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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December 05, 2019 07:30 ET (12:30 GMT)