AB Dynamics PLC Appointment and Resignation of Non-Exec Directors (6632U)
30 Juillet 2020 - 5:15PM
UK Regulatory
TIDMABDP
RNS Number : 6632U
AB Dynamics PLC
30 July 2020
For immediate release
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF
THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
30 July 2020
AB Dynamics plc
("AB Dynamics", the "Company" or the "Group")
Appointment and Resignation of Non-Executive Directors
AB Dynamics (AIM: ABDP), the designer, manufacturer and supplier
of advanced testing systems and measurement products to the global
automotive market, is pleased to announce the appointment of
Richard Peter Elsy as Non-Executive Director and he will join the
Board on 1 August 2020 as Chair of the Remuneration Committee.
Dick Elsy is the Chief Executive of the High Value Manufacturing
Catapult, the go-to place for advanced manufacturing technology in
the UK. With over GBP800m of assets, supporting both industry and
academia, it represents the greatest concentration of advanced
manufacturing research capability in Europe. Dick is a career
veteran from the automotive industry, with the bulk of his time
spent at Land Rover and then Jaguar, where he was engineering
director. He ran Torotrak plc, the innovator in traction drive
technology, for several years.
Dick takes a keen interest in engineering innovation at a
national level as a board member of the Aerospace Growth
Partnership and a member of the Automotive Council's Technology
group. He is also on the council of the UKRI-STFC and supports the
research and technology community through his board role with
AIRTO.
Most recently Dick has been chairing the Ventilator Challenge UK
Consortium, an extraordinary programme to repurpose the automotive,
motorsport and aero industries to build thousands of complex
medical devices in a matter of a few weeks.
Mr Richard Elsy said: " I'm delighted to join the board of AB
Dynamics at such an interesting time. The automotive industry is in
the midst of a sea change as it transitions to new low carbon and
autonomous driving technologies. AB Dynamic's industry leading
products and its forward strategy place it as a front runner to
build value from this change."
The Company announces that Graham Eves shall step down from his
position as Chair of the Remuneration Committee on 1 August 2020
and will retire from the Board on 31 August 2020. The Board thanks
Graham for his service to the Company.
Information disclosable under Rule 17 and Schedule Two paragraph
(g) of the AIM Rules for Companies
Richard Peter Elsy (aged 60) does not hold any shares or options
in the Group.
In the 5 years preceding the date of this announcement, Richard
Peter Elsy held the following directorships and no
partnerships.
Current directorships Past directorships
Airto Limited None
Crescent (H-In-A) Management
Limited (The)
High Value Manufacturing Catapult
-------------------
There is no further information regarding Richard Peter Elsy
required to be disclosed under the AIM Rules.
Enquiries:
AB Dynamics plc 01225 860 200
Dr James Routh, Chief Executive Officer
Sarah Matthews-DeMers, Chief Financial Officer
Cairn Financial Advisers (Nomad) 0207 213 0880
Liam Murray
Ludovico Lazzaretti
Cantor Fitzgerald Europe (Broker) 0207 894 7000
Phil Davies (Corporate Finance)
Tulchan Communications 0207 353 4200
James Macey White
Matt Low
Deborah Roney
The person responsible for arranging the release of this
information is Felicity Jackson, Company Secretary.
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, UK (the Group). The Group 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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