REG - AB Dynamics PLC - Shares Awards and Director/PDMR Dealings
13/12/2024 07:00
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RNS Number : 9425P AB Dynamics PLC 13 December 2024
13 November 2024
AB Dynamics plc
("AB Dynamics", the "Company" or the "Group")
Issue of bonus share awards
Director/PDMR dealings
Grant of LTIP awards
AB Dynamics plc, 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 12 December 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 2024 ("Bonus Shares").
The Bonus Shares were awarded by reference to a price of 1960p, being the
closing share price on 11 December 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) 2,341 35,966 0.16%
Sarah Matthews-DeMers (CFO) 1,756 9,804 0.04%
The Bonus Shares were awarded for nil consideration by transfer from the
employee benefit trust.
Exercise of LTIP awards and related disposals
On 11 December 2024, certain PDMRs exercised nil cost option awards ("Option
Shares") over Ordinary Shares held under the AB Dynamics plc Long Term
Incentive Plan ("LTIP").
The Company was notified of subsequent sales of Ordinary Shares to meet the
cost of exercise, personal taxation liabilities on the options and other tax
related liabilities.
The table below sets out details of the transactions undertaken:
Name and role Number of Option Shares exercised Number of Option Shares sold Resulting interest in Ordinary Shares Resulting percentage of Ordinary Shares
Dr James Routh (CEO) 51,220 24,170 63,016 0.27%
Sarah Matthews-DeMers (CFO) 38,415 18,128 30,091 0.13%
Andrew Ng (Group President - Testing Products) 5,770 5,770 - -
Matthew Price (Group Corporate Development Director) 4,114 1,941 2,173 0.01%
The Option Shares were acquired for nil consideration by transfer from the
employee benefit trust and all the sales of Ordinary Shares were undertaken on
the same day to the benefit of the respective PDMR at a price of 1900p per
share.
Grant of LTIP awards
On 12 December 2024, the Company awarded nil cost option awards over a total
of 95,949 Ordinary Shares to eight of its PDMRs in accordance with the rules
of the LTIP, with a grant date of 12 December 2024.
The table below sets out the allocation of LTIP awards together with the
previous awards made under the LTIP:
Name and role New LTIP award Existing LTIP awards Total number of LTIP awards
Dr James Routh (CEO) 33,705 56,149 89,854
Sarah Matthews-DeMers (CFO) 25,278 42,112 67,390
Andrew Ng (Group President - Testing Products) 9,292 17,335 26,627
Matthew Price (Group Corporate Development Director) 4,101 10,357 14,458
Dan Clark (Managing Director - Simulation) 7,142 10,031 17,173
Neil Carpenter (Managing Director - Testing Services) 5,564 Nil 5,564
Rory Grunerud (Managing Director - ABD Solutions) 5,357 Nil 5,357
Ben Russell (Group Business Development Director) 5,510 Nil 5,510
Subject to the rules of the LTIP these awards will vest on 29 November 2027,
ordinarily subject to continued service and subject to satisfying the required
total shareholder return, EPS and cash conversion performance criteria. 40% of
the awards vest based on EPS growth, 40% vest based on cash conversion and 20%
vest based on relative TSR versus the constituents of the AIM 100.
Enquiries:
AB Dynamics plc 01225 860 200
Dr James Routh, Chief Executive Officer
Sarah Matthews-DeMers, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Joint Broker) 0207 418 8900
Mike Bell
Ed Allsopp
Stifel Nicolaus Europe Limited (Joint Broker) 0207 710 7600
Matthew Blawat
Harry Billen
Teneo 0207 353 4200
James Macey White
Matt Low
The person responsible for arranging the release of this information is David
Forbes, Company Secretary.
About AB Dynamics plc
AB Dynamics is a leading designer, manufacturer and supplier of advanced
testing, simulation and measurement products to the global transport market.
AB Dynamics is an international group of companies headquartered in Bradford
on Avon. AB Dynamics currently supplies all the major 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 payment.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 1. 2,341
2. 1,756
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 12 December 2024
f) Place of the transaction Outside of a trading platform
d)
Aggregated information
- Aggregated volume
n/a
- Price
e)
Date of the transaction
12 December 2024
f)
Place of the transaction
Outside of a trading platform
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. Matthew Price
2 Reason for the notification
a) Position/status 1. Chief Executive Officer
2. Chief Financial Officer
3. Group President - Testing Products
4. Group Corporate Development 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 Exercise of nil cost option awards over Ordinary Shares.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 1. 51,220
2. 38,415
3. 5,770
4. 4,114
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 11 December 2024
f) Place of the transaction Outside of a trading venue
d)
Aggregated information
- Aggregated volume
n/a
- Price
e)
Date of the transaction
11 December 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. Matthew Price
2 Reason for the notification
a) Position/status 1. Chief Executive Officer
2. Chief Financial Officer
3. Group President - Testing Products
4. Group Corporate Development 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 Sale of Ordinary Shares.
c) Price(s) and volume(s)
Price(s) Volume(s)
1900p 1. 24,170
2. 18,128
3. 5,770
4. 1,941
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 11 December 2024
f) Place of the transaction London Stock Exchange, AIM
d)
Aggregated information
- Aggregated volume
n/a
- Price
e)
Date of the transaction
11 December 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. Andrew Ng
4. Matthew Price
5. Dan Clark
6. Neil Carpenter
7. Rory Grunerud
8. Ben Russell
2 Reason for the notification
a) Position/status 1. Chief Executive Officer
2. Chief Financial Officer
3. Group President - Testing Products
4. Group Corporate Development Director
5. Managing Director - Simulation
6. Managing Director - Testing Services
7. Managing Director - ABD Solutions
8. Group Business Development 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. 33,705
2. 25,278
3. 9,292
4. 4,101
5. 7,142
6. 5,564
7. 5,357
8. 5,510
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 12 December 2024
f) Place of the transaction Outside of a trading venue
d)
Aggregated information
- Aggregated volume
n/a
- Price
e)
Date of the transaction
12 December 2024
f)
Place of the transaction
Outside of a trading venue
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