Director dealings: AB Dynamics founder lowers stake at record highs

AB Dynamics revealed on Thursday that founder and chairman Tony Best and his wife Naemi had disposed of a total of 130,000 ordinary shares in the AIM-listed industrial engineering outfit.

Best, who founded AB Dynamics back in 1982, sold 100,000 ordinary shares on Wednesday at an average price of 2,750p each, for a total value of £2.75m.

Following the chairman's sale, his wife offloaded 30,000 ordinary shares at an average price of 2,750p each, for a total value of value £825,000.

As a result of the sale, Best and his partner lowered their combined stake to 5.91m shares, representing 26.63% of the company's issued share capital.

The company's shares were trading just off their record highs following a torrid run higher over the preceding four years that had pushed their price-to-earnings and price to sales multiples to a lofty 77.27 and 14.3, respectively, according to Bloomberg data.

As of 1620 BST, AB Dynamics shares had dipped 1.82% to 2,749p.

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Top Director Sells

Ab Dynamics (ABDP)
Director name: Best,Anthony (Tony)
Amount sold: 100,000 @ 2,750.00p
Value: £2,750,000.00

Ab Dynamics (ABDP)
Director name: Best,Anthony (Tony)
Amount sold: 30,000 @ 2,750.00p
Value: £825,000.00

Anglo Pacific Group (APF)
Director name: Blyth,Michael
Amount sold: 7,500 @ 191.00p
Value: £14,325.00