20 December 2024
Velocity Composites
plc
("Velocity", the "Company", the "Group")
Exercise of Share Options and
Issue of Equity
Velocity Composites plc (AIM: VEL),
the leading supplier of composite material kits to aerospace, has
been notified that, on 18 December 2024, a total of 483,660 options
over Velocity ordinary shares of 0.25 pence each ("Ordinary
Shares") were exercised at a price of 0.25p (the "Option
Exercises"). Following the exercises, sufficient Ordinary Shares
were sold to cover the tax liabilities ("Disposals)".
The Option Exercises and Disposals
include the following dealings by PDMRs:
|
PDMR
|
Number of Options
|
Disposals
|
Number of Ordinary Shares held following Option Exercise and
Disposal
|
Percentage of issued share capital following
Admission
|
|
Andy Beaden
|
249,035
|
Nil
|
930,010
|
1.72%
|
|
Annette Rothwell
|
96,674
|
18,127
|
78,547
|
0.15%
|
|
David Bailey
|
75,734
|
23,421
|
52,313
|
0.10%
|
Application has been made for
483,660 Ordinary Shares to be admitted to trading on AIM
("Admission"). Admission is expected to occur on 24 December 2024
and the Ordinary Shares will, on issue, rank pari passu in all
respects with the Company's existing Ordinary Shares.
On Admission, the Company will have
a total of 53,993,366 Ordinary Shares in issue. No Ordinary
Shares are held in treasury. The figure of 53,993,366 may be
used by the Company's shareholders as the denominator in the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the Financial Conduct Authority's Disclosure,
Guidance and Transparency Rules.
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
|
Andy Beaden
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chairman
|
|
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
|
Exercise of share options over
ordinary shares of 0.25p each AND disposal of sufficient shares to
discharge tax liability upon exercise
|
|
c)
|
Price(s) and volumes(s)
|
|
|
Price
|
Volume
|
|
Option
Exercise
|
n/a
|
249,035
|
|
|
d)
|
Aggregated information
|
N/A single transaction
|
|
|
Aggregated volume
|
N/A single transaction
|
|
|
Aggregated Price
|
N/A single transaction
|
|
e)
|
Date of the transaction
|
Option Exercise: 18 December 2024
|
|
f)
|
Place of the transaction
|
Option Exercise: XOFF
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Annette Rothwell
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
NED
|
|
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
|
Exercise of share options over
ordinary shares of 0.25p each AND disposal of sufficient shares to
discharge tax liability upon exercise
|
|
c)
|
Price(s) and volumes(s)
|
|
|
Price
|
Volume
|
|
Option
Exercise
|
n/a
|
96,674
|
|
Disposal
|
25.5p
|
18,127
|
|
|
d)
|
Aggregated information
|
N/A single transaction
|
|
|
Aggregated volume
|
N/A single transaction
|
|
|
Aggregated Price
|
N/A single transaction
|
|
e)
|
Date of the transaction
|
Option Exercise: 18 December 2024
Disposal: 20 December
2024
|
|
f)
|
Place of the transaction
|
Option Exercise: XOFF
Disposal: AIM
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
David Bailey
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
NED
|
|
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
|
Exercise of share options over
ordinary shares of 0.25p each AND disposal of sufficient shares to
discharge tax liability upon exercise
|
|
c)
|
Price(s) and volumes(s)
|
|
|
Price
|
Volume
|
|
Option
Exercise
|
n/a
|
75,734
|
|
Disposal
|
25.5p
|
23,421
|
|
|
d)
|
Aggregated information
|
N/A single transaction
|
|
|
Aggregated volume
|
N/A single transaction
|
|
|
Aggregated Price
|
N/A single transaction
|
|
e)
|
Date of the transaction
|
Option Exercise: 18 December 2024
Disposal: 20 December
2024
|
|
f)
|
Place of the transaction
|
Option Exercise: XOFF
Disposal: AIM
|