Exercise of Share Options and Total Voting Rights

RNS Number : 6888H

AB Dynamics PLC

23 May 2014

 



AB Dynamics plc
("ABD" or the "Group" )

Exercise of Share Options and total voting rights

Exercise of options

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 received notices of exercise of options from Directors and employees of the Company (the "Option Exercise") to subscribe for a total of 428,664 new ordinary shares of 1 pence each in the Company (the "New Ordinary Shares"). The exercise price of the options is 12.52 pence each.

Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on 28 May 2014. The New Ordinary Shares will rank pari passu with the existing ordinary shares in the Company.

Directors' dealings

Options exercised by directors of the Company which are included in the above total are as follows:

Timothy (Tim) Rogers                    186,100

Robert (Rob) Hart                                5,133

Following the exercise of options, Mr Rogers owns 186,100 ordinary shares representing 1.1% of the Company's enlarged issued share capital and Mr Hart owns 5,133 ordinary shares representing 0.03% of the Company's enlarged issued share capital.

Total voting rights

Following Admission, the Company's enlarged issued share capital will comprise 16,775,640 ordinary shares. The Company does not hold any shares in treasury. The figure of 16,775,640 ordinary shares 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.

For further information please contact:

AB Dynamics plc Tim Rogers, Managing Director Tony Best, Chairman	01225 860 200
Cairn Financial Advisers LLP (Nomad) Tony Rawlinson Avi Robinson	0207 148 7900
Charles Stanley Securities Limited (Broker) Dugald J. Carlean Karri Vuori	0207 149 6000
Newgate Threadneedle (PR) Josh Royston Heather Armstrong Caroline Evans-Jones	0207 653 9850

Overview of AB Dynamics plc

ABD 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 was founded in 1982 and listed on AIM in May 2013. The Group is headquartered in Bradford on Avon employing approximately 50 staff. ABD currently supplies seventeen of the top twenty automotive manufacturers, including Honda, Toyota, Ford and Volkswagen, who routinely use the Group's products to test vehicle safety and dynamics.

 

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