TIDMABDP
RNS Number : 5969U
AB Dynamics PLC
06 December 2021
6 December 2021
AB Dynamics plc
("AB Dynamics", the "Company" or the "Group")
Director/PDMR Shareholding
Issue of Bonus Shares and Grant of LTIP awards
AB Dynamics plc (AIM: ABDP), the designer, manufacturer and
supplier of advanced testing systems and measurement products to
the global automotive market, today announces an issue of equity
pursuant to bonus awards, and the grant of LTIP awards.
Issue of Bonus Shares
On 3 December 2021, 2,468 ordinary shares of 1p each ("Ordinary
Shares") were issued to directors of the Company in satisfaction of
20% of their respective annual bonus payments for the year ended 31
August 2021 ("Bonus Shares").
The Bonus Shares are being issued at a price of 1750p, being the
closing share price on 2 December 2021. The Bonus Shares have a
required holding period of three years.
The table below sets out the allocation of the Bonus Shares
together with the resulting holdings of the directors following
Admission:
Name Number of Bonus Shares Resulting interest in Resulting percentage of
issued Ordinary Shares Ordinary Shares
----------------------------- ---------------------------- ---------------------------- ---------------------------
Dr James Routh (CEO) 1,536 14,729 0.065%
Sarah Matthews-DeMers (CFO) 932 1,281 0.006%
Application has been made to London Stock Exchange for 2,468 new
Ordinary Shares to be admitted to trading on AIM. It is expected
that admission will become effective and that dealings will
commence in the Ordinary Shares on or around 10 December 2021
("Admission"). The new Ordinary Shares will rank, pari passu, with
the Company's existing Ordinary Shares.
Total Voting Rights
Following Admission, the Company's total issued share capital
will comprise 22,624,812 Ordinary Shares. The Company does not hold
any shares in treasury. Therefore the total number of voting rights
in the Company will be 22,624,812. 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 Guidance and Transparency
Rules.
Grant of an LTIP award
Within the Company's Annual Report 2021 (page 81) published on 3
December 2021, the Remuneration Committee stated its intention to
consult with the Company's larger shareholders and investor bodies
with a view to putting in place revised long-term incentive
arrangements to better retain the Company's key Executives and to
focus them on the execution of the Company's strategy and growth
plans. In particular, given the Company's focus on developing and
implementing a detailed ESG strategy, the Remuneration Committee
will review performance metrics with a view to including ESG
criteria. Other elements of the directors' remuneration will remain
broadly the same. No LTIP awards will be made to Dr James Routh
(CEO) and Sarah Matthews-DeMers (CFO) until the consultation period
has concluded.
On 3 December 2021, the Company awarded options over a total of
4,286 ordinary shares of 1 pence each ("Ordinary Shares") to a PDMR
in accordance with the rules of the AB Dynamics plc Long Term
Incentive Plan ("LTIP").
The table below sets out the allocation of the LTIP award
together with the previous awards made under the LTIP:
Name New LTIP award Existing LTIP awards Total number of LTIP awards
------------- --------------- --------------------- ----------------------------
Mark Allman 4,286 7,016 11,302
This award will vest on 2 December 2024, subject to satisfying
the required Total Shareholder Return and EPS performance
criteria.
Enquiries:
AB Dynamics plc 01225 860 200
Dr James Routh, Chief Executive
Officer
Sarah Matthews-DeMers, Chief Financial
Officer
Peel Hunt LLP 0207 418 8900
Mike Bell
Ed Allsopp
Tulchan Communications 0207 353 4200
James Macey White
Matt Low
Laura Marshall
About 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. AB Dynamics 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 below notification made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail:
1 Details of the relevant person / person closely associated
a) Name 1. James Routh
2. Sarah Matthews-DeMers
-------------------------- ----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status 1. CEO
2. CFO
-------------------------- ----------------------------------------
b) Initial notification/ Initial notification
Amendment
-------------------------- ----------------------------------------
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 Ordinary Shares
financial instrument,
type of instrument
Identification code GB00B9GQVG73
-------------------------- ----------------------------------------
b) Nature of the transaction Award of shares in partial satisfaction
of an annual bonus payment
-------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 1. 1,536
2. 932
----------
-------------------------- ----------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price
-------------------------- ----------------------------------------
e) Date of the transaction 3 December 2021
-------------------------- ----------------------------------------
f) Place of the transaction London Stock Exchange, AIM
-------------------------- ----------------------------------------
The below notification made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail:
1 Details of the relevant person / person closely associated
a) Name Mark Allman
-------------------------- -----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Managing Director, Anthony Best Dynamics
Limited
-------------------------- -----------------------------------------
b) Initial notification/ Initial notification
Amendment
-------------------------- -----------------------------------------
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 Ordinary Shares
financial instrument,
type of instrument
Identification code GB00B9GQVG73
-------------------------- -----------------------------------------
b) Nature of the transaction Grant of options
-------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 1. 4,286
----------
-------------------------- -----------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 3 December 2021
-------------------------- -----------------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------- -----------------------------------------
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END
IOEDKPBNCBDDKBK
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