6th Jun 2014 09:54
LONDON (Alliance News) - AB Dyanamics PLC Friday said a group of directors sold shares at 150 pence per share through a placing Wednesday.
Managing Director Tim Rogers sold 40,000 new shares, and intends to retain his residual holding of 146,100 ordinary shares, representing 0.87% of the issued share capital. He also retains options to subscribe for a further 372,200 AB Dynamics shares.
Finance Director Robert Hart sold 5,133 new shares and retains a holding of 11,389 ordinary shares, representing 0.07% of the issued share capital. He has options to subscribe for a further 10,267 shares.
Naemi Best, the wife of founder and Chairman Anthony Best, sold 399,173 ordinary shares. Following this disposal, Anthony Best retains an interest in 6.8 million ordinary shares, representing 40.52% of the issued share capital, which includes his wife's holding of 1.2 million ordinary shares.
Anne Middleton, a major shareholder, sold 200,000 ordinary shares. Following this disposal Middleton retains an interest in 1.8 million shares representing 10.73% of the 'issued share capital.
The company said Charles Stanley Securities undertook the placing of new and existing shares on behalf of the directors, founders and employees in response to investor demand. It was significantly oversubscribed, AB Dynamics said.
Shares in the vehicle systems tester were quoted at 162.00 pence down 3.0% Friday morning.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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