REG - AB Dynamics PLC - Issue of Equity and PDMR Shareholding

Ab DynamicsAnnouncement

06/12/2021 07:00

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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 issued  Resulting interest in Ordinary Shares  Resulting percentage of 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/ 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                                    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

 

 

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/ 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. 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

 

 

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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