REG - AB Dynamics PLC - Grant of LTIP awards

Ab DynamicsAnnouncement

15/03/2022 07:00

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RNS Number : 7438E  AB Dynamics PLC  15 March 2022

15 March 2022

AB Dynamics plc

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

Grant of LTIP awards

 

AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of
advanced testing, simulation,  and measurement products to the global
transport market, announces that on 11 March 2022, it awarded options over a
total of 89,635 ordinary shares of 1 pence each ("Ordinary Shares") to Dr
James Routh, Chief Executive Officer, and Sarah Matthews-DeMers, Chief
Financial Officer, (the "Awards") in accordance with the rules of the AB
Dynamics Long Term Incentive Plan ("LTIP").

 

In advance of making any further awards under the existing LTIP, as disclosed
in the Group's Annual Report on 3 December 2021, and separately announced on 6
December 2021, the Remuneration Committee confirmed its intention to consult
with the Company's largest shareholders. The Awards have been made following
that process.

 

The Awards will vest on 2 December 2024, subject to satisfying the required
Total Shareholder Return and Earnings Per Share performance criteria, and the
maximum value of the Awards has been capped at 150% of base salary. In
addition to the above performance conditions, the Remuneration Committee
retains the discretion to adjust the Awards downwards at vesting to ensure
that all relevant factors are taken into account, including the consideration
of any windfall gains.

 

The Company has a strong focus on developing and implementing a detailed ESG
strategy, and recognises the importance of linking ESG performance to future
awards, and it is the intention of the Remuneration Committee to incorporate
ESG performance criteria within future LTIP awards. A revised remuneration
policy will be subject to a vote at the next annual general meeting in
accordance with best practice.

 

The table below sets out the allocation of the Awards together with previous
awards made under the LTIP:

 

  Name                  New LTIP award  Existing LTIP awards  Total number of LTIP awards
 Dr James Routh         51,220          40,195                91,415
 Sarah Matthews-DeMers  38,415          24,377                62,792

Dr James Routh has 33,334 share options and Sarah Matthews-DeMers has 60,000
share options pursuant to other Company share option plans.

 

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/ 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)
                                                                   Nil       1. 51,220

                                                                        2. 38,415

 

 d)  Aggregated information
     - Aggregated volume                                          n/a
     - Price
 e)  Date of the transaction                                      14 March 2022
 f)  Place of the transaction                                     Outside of a trading venue

 

 

d)

Aggregated information

- Aggregated volume

n/a

- Price

e)

Date of the transaction

14 March 2022

f)

Place of the transaction

Outside of a trading venue

 

 

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