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 |
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Cantor Fitzgerald Europe (Broker) |
0207 894 7000 |
Phil Davies, David Foreman (Corporate Finance) Caspar Shand Kydd, Keith Dowsing, Arthur Gordon (Equity Sales) |
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Cairn Financial Advisers (Nomad) |
0207 213 0880 |
Tony Rawlinson Liam Murray Ludovico Lazzaretti |
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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/ 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 |
GB00B9GQVG73 |
b) |
Nature of the transaction |
Grant of options |
c) |
Price(s) and volume(s) |
|
Price(s) |
Volume(s) |
|
£21.40 |
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/ 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 |
GB00B9GQVG73 |
b) |
Nature of the transaction |
Grant of options |
c) |
Price(s) and volume(s) |
|
Price(s) |
Volume(s) |
|
£21.40 |
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 |
