Grant of Options to a Director

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/ 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) £12.30 100,000
d)	Aggregated information
	- Aggregated volume	As above
	- Price	As above
e)	Date of the transaction	12 October 2018
f)	Place of the transaction	AIM

 

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