REG - Velocity Composites - Appointment of Chief Financial Officer

Velocity CompositesAnnouncement

11/03/2024 14:30

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RNS Number : 3913G  Velocity Composites PLC  11 March 2024

11 March 2024

 

Velocity Composites plc

("Velocity" or the "Company")

 

Appointment of Chief Financial Officer

 

Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced
composite material kits to the aerospace market, is pleased to announce the
appointment of Robert (Rob) Smith to the Board of the Company as Group Chief
Financial Officer (CFO) and Company Secretary, with effect from 3 June 2024.

 

Rob is a chartered management accountant with significant experience in
leadership roles in a number of AIM quoted technology companies, where he has
been instrumental in leading growth strategies and improving operational
efficiencies. Rob has a proven track record in advanced manufacturing at both
CFO and CEO level, including manufacturing systems implementation and
international commercial leadership. Most recently Rob served as Group CFO at
Biome Technologies plc and prior to that, in the CFO and CEO roles at
Filtronic plc between 2014 and 2020, an electronics designer and manufacturer
of advanced filters, antennas and transceivers.

 

Rob was Finance Director of APC Technology Group, a specialist distributor and
manufacturer of electronic components and semiconductor products with a focus
on green technology industries between 2010 and 2014.

 

The Board would like to thank Andrew Hebb for his significant contribution as
the Company's Interim Chief Financial Officer since August 2023.

 

Andy Beaden, Chairman, commented:

 

"We are delighted to have Rob join the board, as our new permanent CFO. Like
Andrew Hebb, Rob has very significant experience as a seasoned CFO of AIM
listed businesses.  Rob comes with extensive knowledge of advanced
manufacturing and international finance, especially in North America and
Continental Europe.  This enables him to support our growth strategy and lead
development of our finance function as we continue our international
expansion."

 

Regulatory Disclosures

 

In accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies,
Robert St John Smith (aged 59) is, or has been within the last five years, a
director or partner in the following companies and partnerships:

 

 Current directorships/partnerships  Directorships/partnerships held within the last five years
 Aquasol Limited                     Autocore Limited

 Biome Bioplastics Limited           Filtronic plc

 Biome Technologies plc              Filtronic Broadband Limited

 Biome Bioplastics Inc.              Filtronic Holdings UK Limited

 Ingel Technologies Limited          Filtronic Wireless Limited

 Stanelco RF Technologies Limited    Filtronic Wireless Inc

                                     Kaelus Antennas AB (formerly Filtronic Wireless AB)

                                     Filtronic Wireless Suzhou

                                     Isotek Limited

                                     Isotek (Holdings) Limited

                                     Isotek Hong Kong Holdings Limited

                                     Isotek Suzhou Limited

                                     Remanufactured Systems Limited

 

 

 

 

Mr Smith does not currently hold any ordinary shares in the Company.

 

Enquiries:

 

 Velocity Composites plc                        +44 (0) 1282 577577

 Andy Beaden, Chairman

 Jon Bridges, Chief Executive Officer

 Andrew Hebb, Interim Chief Financial Officer

 Cavendish Capital Markets Limited

 Nominated Adviser and Joint Broker             +44 (0) 20 7220 0500

 Katy Birkin

 Ben Jeynes

 George Lawson

 Dowgate Capital Limited

 Joint Broker                                   +44 (0) 20 3903 7715

 Russell Cook

 Nick Chambers

 SEC Newgate

 Financial Communications                       +44 (0)7540 106 366

 Robin Tozer                                    velocity@secnewgate.co.uk (mailto:velocity@secnewgate.co.uk)

 George Esmond

 Harry Handyside

 

 

 

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