AB Dynamics PLC Grant of LTIP awards (7438E)
15 Mars 2022 - 8:00AM
UK Regulatory
TIDMABDP
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 Existing Total number
award LTIP awards 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/ Initial notification
Amendment
----------------------------- --------------------------------
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 Ordinary Shares
financial instrument,
type of instrument
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 1 4 M arch 2022
----------------------------- --------------------------------
f) Place of the transaction Outside of a trading venue
----------------------------- --------------------------------
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END
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