REG - AB Dynamics PLC - Shares Awards and Director/PDMR Dealings
13/02/2024 16:00
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RNS Number : 0186D AB Dynamics PLC 13 February 2024
13 February 2024
AB Dynamics plc
("AB Dynamics", the "Company" or the "Group")
Shares Awards and Director/PDMR Dealings
AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of
advanced testing, simulation and measurement products to the global
transport market, today announces the award of bonus shares, exercise of LTIP
awards, related sales and the grant of LTIP awards.
Award of Bonus Shares
On 8 February 2024, ordinary shares of one penny each ("Ordinary Shares")
were awarded to directors of the Company in satisfaction of 20% of their
respective annual bonus for the year ended 31 August 2023 ("Bonus Shares").
The Bonus Shares were awarded by reference to a price of 1775p, being the
closing share price on 7 February 2024. The Bonus Shares have a required
holding period of three years.
The table below sets out details of the Bonus Shares awarded together with the
resulting holdings of the directors:
Name and role Number of Bonus Shares awarded Resulting interest in Ordinary Shares Resulting percentage of Ordinary Shares
Dr James Routh (CEO) 2,406 27,839 0.12%
Sarah Matthews-DeMers (CFO) 1,804 4,539 0.02%
The Bonus Shares were awarded for nil consideration by transfer from an
employee benefit trust.
Exercise of LTIP awards and related disposals
On 8 February 2024, three PDMRs acquired ordinary shares of one penny each
("Ordinary Shares") pursuant to the exercise of nil cost option awards
("Option Shares") held under the AB Dynamics plc Long Term Incentive Plan
("LTIP").
The table below sets out details of the Options Shares acquired together with
the resulting holdings of the directors following related disposals:
Name and role Number of Option Shares acquired Number of Option Shares sold Resulting interest in Ordinary Shares Resulting percentage of Ordinary Shares
Dr James Routh (CEO) 10,958 5,172 33,625 0.14%
Sarah Matthews-DeMers (CFO) 6,646 3,137 8,048 0.03%
Matthew Price (Managing Director) 1,697 802
The Option Shares were acquired for nil consideration by transfer from an
employee benefit and the number of Option Shares noted as sold were sold on
the same day to the benefit of the respective PMDR at a price of 1765 per
share to satisfy personal taxation liabilities arising from the exercise.
Grant of LTIP awards
On 8 February 2024, the Company awarded nil cost option awards over a total of
80,333 Ordinary Shares to six of its PDMRs in accordance with the rules of the
AB Dynamics plc Long Term Incentive Plan ("LTIP"), with a grant date of 8
February 2023.
The table below sets out the number of Ordinary Shares over which such LTIP
awards were granted together details of the number of Ordinary Shares over
which their other existing LTIP awards are held:
Name and role New LTIP award Existing LTIP awards Total number of LTIP awards
Dr James Routh (CEO) 27,692 90,636 118,328
Sarah Matthews-DeMers (CFO) 20,769 66,404 87,173
Andrew Ng (President APAC & N. America) 10,595 12,510 23,105
Thomas Willis (Managing Director) 8,187 3,506 11,693
Dan Clark (Managing Director) 7,241 2,790 10,031
Matthew Price (Managing Director) 5,849 8,622 14,471
Subject to the rules of the LTIP these awards will vest on 8 February 2027,
ordinarily subject to continued service and subject to satisfying the required
Total Shareholder Return, EPS and cash conversion 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
Stifel Nicolaus Europe Limited 0207 710 7600
Matthew Blawat
Harry Billen
Teneo 0207 353 4200
James Macey White
Matt Low
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. Chief Executive Officer
2. Chief Financial Officer
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 Ordinary Shares in partial satisfaction of an annual bonus
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 1. 2,406
2. 1,804
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 8 February 2024
f) Place of the transaction London Stock Exchange, AIM
d)
Aggregated information
- Aggregated volume
n/a
- Price
e)
Date of the transaction
8 February 2024
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 1. James Routh
2. Sarah Matthews-DeMers
3. Matthew Price
2 Reason for the notification
a) Position/status 1. Chief Executive Officer
2. Chief Financial Officer
3. Managing Director
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 Acquisition of Ordinary Shares pursuant to exercise of nil cost option awards.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 1. 5,786
2. 3,509
3. 895
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 8 February 2024
f) Place of the transaction Outside of a trading venue
d)
Aggregated information
- Aggregated volume
n/a
- Price
e)
Date of the transaction
8 February 2024
f)
Place of the transaction
Outside of a trading venue
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
3. Andrew Ng
4. Thomas Willis
5. Dan Clark
6. Matthew Price
2 Reason for the notification
a) Position/status 1. Chief Executive Officer
2. Chief Financial Officer
3. President APAC & North America
4. Managing Director
5. Managing Director
6. Managing Director
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 nil cost option LTIP awards over Ordinary Shares
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 1. 27,692
2. 20,769
3. 10,595
4. 8,187
5. 7,241
6. 5,849
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 8 February 2024
f) Place of the transaction Outside of a trading venue
d)
Aggregated information
- Aggregated volume
n/a
- Price
e)
Date of the transaction
8 February 2024
f)
Place of the transaction
Outside of a trading venue
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