Exercise of Options

RNS Number : 8677E

AB Dynamics PLC

03 March 2020

 

03 March 2020

AB Dynamics plc

("AB Dynamics", the "Company" or the "Group")

Exercise of Options

AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive market, announces the exercise of options held by a Director and employees of the Company (the "Option Exercise") in respect of a total of 64,259 new ordinary shares of 1 pence each in the Company (the "New Ordinary Shares").

The exercise price of 58,086 of the options is 395 pence each, the remaining 6,173 options were exercised at 445 pence.

Out of the above, Matthew Hubbard, Director of the Company is exercising 41,363 options at a price of 395 pence each. Following the exercise, his resulting shareholding in the Company (including the shareholding of persons closely associated with him) is 116,606 shares, which is 0.52% of issued share capital. All of the other options are being exercised by employees of the Company.

The Company has previously applied to list these shares as part of the block listing of 376,746 ordinary shares of £0.01 each in the Company ("Ordinary Shares"), which were admitted to trading on AIM ("Admission") on 13 September 2019.

The New Ordinary Shares will rank pari passu with the existing ordinary shares in the Company. Following Admission, the Company's enlarged issued share capital will comprise 22,515,737 ordinary shares. The Company does not hold any shares in treasury. This figure 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.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 and has been arranged for release by Felicity Jackson, Company Secretary.

Enquiries:

AB Dynamics plc	01225 860 200
Tony Best, Chairman
Dr James Routh, Chief Executive Officer
Sarah Matthews-DeMers, Chief Financial Officer
Mat Hubbard, Chief Technology Officer
Cairn Financial Advisers (Nomad)	0207 213 0880
Tony Rawlinson Liam Murray Ludovico Lazzaretti
Cantor Fitzgerald Europe (Broker)	0207 894 7000
Phil Davies, David Foreman (Corporate Finance) Caspar Shand Kydd, Keith Dowsing, Arthur Gordon (Equity Sales)
Tulchan Communications	0207 353 4200
James Macey White
Matt Low
Deborah Roney

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.

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	Options over Ordinary Shares
	Identification code	ISIN: GB00B9GQVG73
b)	Nature of the transaction	Exercise of Options
c)	Price(s) and volume(s)	Price(s) Volume(s) £3.95 41,363
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	02 March 2020
f)	Place of the transaction	London Stock Exchange

 

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