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 award | Existing LTIP awards | Total number of LTIP awards |
| Dr James Routh | 51,220 | 40,195 | 91,415 |
| Sarah Matthews-DeMers | 38,415 | 24,377 | 62,792 |
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| | | | |
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/ 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 options | ||||||
| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information | | ||||||
| | - Aggregated volume | n/a | ||||||
| | - Price | | ||||||
| e) | Date of the transaction | 14 March 2022 | ||||||
| f) | Place of the transaction | Outside of a trading venue
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