Exercise of Share Options and Warrants
4 June 2015
AB Dynamics plc
("ABD" or the "Company" )
Exercise of Share Options and Warrants
Total Voting Rights
Exercise of options and warrants
AB Dynamics plc (AIM: ABDP), the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry, announces that it has received notices of exercise of options from certain directors and employees of the Company (the "Option Exercise") to subscribe for a total of 435,697 new ordinary shares of 1 pence each in the Company (the "New Ordinary Shares"). The exercise price of the options is 12.52 pence each.
In addition, ABD has received notice of exercise of warrants from Cairn Financial Advisers LLP to subscribe for 63,069 new ordinary shares of 1 pence each at a price of 86 pence per share. These warrants were granted to Cairn at the time of the Company's admission to AIM in May 2013. On the exercise of these warrants the Company will have no outstanding warrants.
Application has been made to the London Stock Exchange for a total of 498,766 New Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on or around Tuesday 9 June 2015. The New Ordinary Shares will rank pari passu with the existing ordinary shares in the Company.
Directors' dealings
The numbers of options exercised by directors of the Company, which are included in the above total, are as follows:
|
Timothy (Tim) Rogers |
186,100 |
|
Robert (Rob) Hart |
5,133 |
Following the exercise of options, Mr Rogers owns 338,201 ordinary shares, representing 2.0% of the Company's enlarged issued share capital and Mr Hart owns 16,522 ordinary shares representing 0.1% of the Company's enlarged issued share capital.
Total voting rights
Following Admission, the Company's enlarged issued share capital will comprise 17,334,406 ordinary shares. The Company does not hold any shares in treasury. The figure of 17,334,406 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change of interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
For further information please contact:
|
AB Dynamics plc Tim Rogers, Managing Director Tony Best, Chairman
|
01225 860 200 |
|
Cairn Financial Advisers LLP (Nomad) Tony Rawlinson Avi Robinson
|
0207 148 7900 |
|
Charles Stanley Securities Limited (Broker) Dugald J. Carlean Karri Vuori
|
0207 149 6000 |
|
Threadneedle (PR) Adam Lloyd |
0207 653 9850 |
Overview of AB Dynamics plc
ABD is a leading designer, manufacturer and provider of advanced testing and measurement products for vehicle suspension, brakes and steering to the global automotive research and development sector. The Group was founded in 1982 and listed on AIM in May 2013. The Group is headquartered in Bradford on Avon employing approximately 60 staff. ABD currently supplies twenty of the top twenty automotive manufacturers, including Honda, Toyota, Ford and Volkswagen, who routinely use the Group's products to test vehicle safety and dynamics.
This information is provided by RNS
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