4 November 2024
Velocity Composites
plc
("Velocity", the "Company", the "Group")
PDMR
shareholding
Velocity Composites plc (AIM: VEL),
the leading supplier of composite material kits to aerospace, has
been notified that, on 1 November 2024, a person closely associated
with Jon Bridges, Chief Executive Officer, sold 150,000 ordinary
shares of 0.25 pence each ("Ordinary Shares") at a price of 25.0
pence per share, reducing his beneficial holding to 5,365,929
Ordinary Shares, representing 10.04% of the issued share capital in
the Company. The Company notes that this is the first sale from Jon
Bridges' beneficial holding since the Company listed in
2017.
The notifications below, made in
accordance with the requirements of the UK Market Abuse Regulation,
provide further details.
Enquiries:
|
Velocity Composites plc
Andy Beaden, Chairman
Jon Bridges, Chief Executive
Officer
Rob Smith, Group Chief Financial
Officer
|
+44 (0)
1282 577577
|
|
Canaccord Genuity Limited
Nominated Adviser and Joint Broker
Max Hartley
George Grainger
|
+44 (0) 20
7523 8000
|
|
Dowgate Capital Limited
Joint Broker
Russell Cook
Nick Chambers
|
+44 (0) 20
3903 7715
|
|
SEC
Newgate
Financial Communications
Robin Tozer
George Esmond
Harry Handyside
|
+44
(0)7540 106 366
velocity@secnewgate.co.uk
|
About Velocity Composites
plc
Based in Burnley, UK, Velocity is
the leading supplier of composite material kits to aerospace, that
reduce costs and improve sustainability. Customers include
Airbus, Boeing, and GKN.
By using Velocity's proprietary
technology, manufacturers can also free up internal resources to
focus on their core business. Velocity has significant
potential for expansion, both in the UK and abroad, including into
new market areas, such as wind energy, urban air mobility and
electric vehicles, where the demand for composites is expected to
grow.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
A Person Closely Associated with Jon
Bridges
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Executive Officer
|
|
b)
|
Initial
notification/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Velocity Composites plc
|
|
b)
|
LEI
|
213800W4W46J8HGZP672
|
|
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 of 0.25 pence
each
|
|
|
Identification code
|
GB00BF339H01
|
|
b)
|
Nature of the transaction
|
Sale of ordinary shares
|
|
c)
|
Price(s) and volumes(s)
|
|
Price
|
Volume
|
|
25.0
pence
|
150,000
|
|
|
d)
|
Aggregated information
|
N/A single transaction
|
|
|
Aggregated volume
|
N/A single transaction
|
|
|
Aggregated Price
|
N/A single transaction
|
|
e)
|
Date of the transaction
|
1 November 2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange,
AIM
|