Business
Placing of Shares
Placing of Shares.
About this update from Ab Dynamics Plc
[{"type":"text","content":"\n \nRNS Number : 0328J AB Dynamics PLC 06 June 2014 \n \n\n \n6 June 2014\n \nAB Dynamics plc(\"ABD\" or the \"Company\" )\n \n \nShare placing of 1.2 million ABD ordinary shares\nDirectors' dealings\n \n \nAB Dynamics plc (AIM: ABDP) the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry announced on 23 May 2014 that certain directors and employees of the Company had exercised options to subscribe for 428,664 ABD new ordinary shares of 1 pence each (the \"New Ordinary Shares\") at an exercise price of 12.52 pence per share.\n \nAs announced Timothy (Tim) Rogers and Robert Hart exercised options to subscribe for 186,100 New Ordinary Shares and 5,133 New Ordinary Shares respectively. \n \nThe Company announces that on 5 June 2014 Charles Stanley Securities undertook a placing of New Ordinary Shares and existing ordinary shares (the \"Placing\") on behalf of certain directors, founders and employees, in response to investor demand and which has been significantly oversubscribed. The Placing comprised 201,208 New Ordinary Shares and 1,031,420 existing ordinary shares at a price of 150 pence per share.\n \nTim Rogers has sold 40,000 New Ordinary Shares through the Placing. Mr Rogers' intends to retain his residual holding of 146,100 ordinary shares, representing 0.87% of the Company's issued share capital. He also retains options to subscribe for a further 372,200 ABD ordinary shares.\n \nRobert Hart has sold 5,133 New Ordinary Shares through the Placing but retains a holding of 11,389 ordinary shares, representing 0.07% of the Company's issued share capital and retains options to subscribe for a further 10,267 ABD ordinary shares.\n \nIn addition Mrs Naemi Best, the wife of Chairman Mr Anthony Best, has sold 399,173 ordinary shares through the Placing. Following this disposal Mr Best retains an interest in 6,797,107 ordinary shares, representing 40.52% of the Company's issued share capital and which includes Mrs Best's holding of 1,200,000 ordinary shares representing 7.15% of the Company's issued share capital.\n \nAnne Middleton has sold 200,000 ordinary shares through the Placing. Following this disposal Ms Middleton retains an interest in 1,800,000 ordinary shares rep...