Grant of Options & Related Party Transaction

RNS Number : 8565V

AB Dynamics PLC

05 December 2019

 

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
Cantor Fitzgerald Europe (Broker)	0207 894 7000
Phil Davies, David Foreman (Corporate Finance) Caspar Shand Kydd, Keith Dowsing, Arthur Gordon (Equity Sales)
Cairn Financial Advisers (Nomad)	0207 213 0880
Tony Rawlinson Liam Murray Ludovico Lazzaretti
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

 

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