AB Dynamics PLC Grant of Options to a Director (9640D)

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RNS Number : 9640D

AB Dynamics PLC

15 October 2018

AB Dynamics plc

("AB Dynamics" or the "Group")

Grant of options to a director

AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry, announces that it has granted options over 100,000 new ordinary shares of 1 pence each in the Company (representing 0.51 per cent. of the Company's issued share capital) to James Routh, the Company's new Chief Executive Officer who joined the board on 1 October 2018. Mr Routh has no other options over, or holdings in, the Company's shares.

The options have an exercise price of 1230 pence, being the closing mid-market price on 11 October 2018, and one-fifth will vest on 12 October 2019 and on each subsequent anniversary until all options have been vested.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 and has been arranged for release by Robert Hart, Chief Financial Officer of the Company.

For further information please contact:

 
AB Dynamics plc                             01225 860 200 
    Tony Best, Chairman 
     James Routh, Chief Executive Officer 
     Rob Hart, Chief Financial Officer 
Cairn Financial Advisers LLP (Nomad)        0207 213 0880 
Tony Rawlinson 
 Liam Murray 
Cantor Fitzgerald Europe (Broker)           020 7894 7000 
Phil Davies 
 David Foreman 
 
IFC Advisory Ltd (PR)                       0203 053 8671 
Tim Metcalfe 
 Heather Armstrong 
 Graham Herring 
 

Overview of AB Dynamics plc

AB Dynamics is a leading designer, manufacturer and provider of advanced testing and measurement products for vehicle suspension, brakes and steering to the global automotive research and development sector.

The Group is headquartered in Bradford on Avon employing approximately 150 staff. AB Dynamics currently supplies all the top twenty automotive manufacturers, including Honda, Toyota, Ford and Volkswagen, who routinely use the Group's products to test vehicle safety and dynamics.

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

 
 1    Details of the relevant person / person closely associated 
 a)   Name                            James Routh 
     ------------------------------  ------------------------------- 
 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) 
                                          GBP12.30    100,000 
                                         ----------  ---------- 
     ------------------------------  ------------------------------- 
 d)   Aggregated information 
      - Aggregated volume             As above 
      - Price                         As above 
     ------------------------------  ------------------------------- 
 e)   Date of the transaction 
                                        12 October 2018 
     ------------------------------  ------------------------------- 
 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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October 15, 2018 02:00 ET (06:00 GMT)