Share Dealings

RNS Number : 0628Q

AB Dynamics PLC

12 June 2015

 

 12 June 2015

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

Share placing of ABD ordinary shares

Directors' dealings

AB Dynamics plc (AIM: ABDP) the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry announced on 4 June 2015 that certain directors and employees of the Company had exercised options to subscribe for 435,697 ABD new ordinary shares of 1 pence each (the "New Ordinary Shares") at an exercise price of 12.52 pence per share.

As announced Timothy (Tim) Rogers and Robert Hart exercised options to subscribe for 186,100 New Ordinary Shares and 5,133 New Ordinary Shares respectively.

The Company announces that on 11 June 2015 Charles Stanley Securities undertook a placing of New Ordinary Shares and existing ordinary shares (the "Placing") on behalf of certain directors, founders and employees.  The Placing comprised 102,782 New Ordinary Shares and 367,330 existing ordinary shares at a price of 210 pence per share.

Tim Rogers has sold 45,000 New Ordinary Shares through the Placing. Mr Rogers' intends to retain his residual holding of 293,201 ordinary shares, representing 1.69% of the Company's enlarged share capital. He also has options to subscribe for a further 186,100 ABD ordinary shares.

Robert Hart has a holding of 16,522 ordinary shares representing 0.10% of the Company's enlarged share capital and also has options to subscribe for a further 5,134 ABD Ordinary shares.

In addition Mrs Naemi Best, the wife of Chairman Mr Anthony Best, has sold 148,220 ordinary shares through the Placing.  Following this disposal Mr Best retains an interest in 6,648,887 ordinary shares, representing 38.36% of the Company's enlarged share capital and which includes Mrs Best's holding of 1,051,780 ordinary shares representing 6.07% of the Company's enlarged share capital.

Anne Middleton has sold 74,110 ordinary shares through the Placing.  Following this disposal Ms Middleton retains an interest in 1,725,890 ordinary shares representing 9.96% of the Company's enlarged share capital.

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) Adam Lloyd	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 60 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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