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
|
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
|
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
|
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
|