REG - Velocity Composites - Director/PDMR Shareholding

Velocity CompositesAnnouncement

16/07/2024 07:00

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RNS Number : 4784W  Velocity Composites PLC  16 July 2024

16 July 2024

Velocity Composites plc

("Velocity", the "Company", the "Group")

 

PDMR shareholdings

 

Velocity Composites plc (AIM: VEL), the leading supplier of composite material
kits to aerospace, has been notified that, on 12 July 2024, Jon Bridges, Chief
Executive Officer, transferred 1,500,000 ordinary shares of 0.25 pence each
("Ordinary Shares") to his wife. Following this transfer, there is no change
in the beneficial interest of shares in the Company of Jon Bridges.

 

In addition to this, the Company has been notified that, on 15 July 2024, Rob
Smith, Chief Financial Officer, purchased 10,000 Ordinary Shares at 43 pence
per Ordinary Share. Following this purchase, Rob Smith holds a beneficial
interest in 20,000 Ordinary Shares representing approximately 0.04 per cent.
of the Company's issued share capital.

 

The notifications below, made in accordance with the requirements of the UK
Market Abuse Regulation, provide further details.

 

 

Enquiries:

 

 Velocity Composites plc                    +44 (0) 1282 577577

 Andy Beaden, Chairman

 Jon Bridges, Chief Executive Officer

 Rob Smith, Group Chief Financial Officer

 Canaccord Genuity Limited                  +44 (0) 20 7523 8000

 Nominated Adviser and Joint Broker

 Max Hartley

 George Grainger

 Dowgate Capital Limited                    +44 (0) 20 3903 7715

 Joint Broker

 Russell Cook

 Nick Chambers

 SEC Newgate                                +44 (0)7540 106 366

 Financial Communications                   velocity@secnewgate.co.uk

 Robin Tozer

 George Esmond

 Harry Handyside

 

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                                                         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 0.25p each
     Identification code                                          GB00BF339H01
 b)  Nature of the transaction                                    Transfer of Ordinary Shares to his wife

 c)  Price(s) and volumes(s)                                      Price(s)                     Volume(s)
     nil                                                                                       1,500,000
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      12 July 2024
 f)  Place of the transaction                                     Outside a trading venue

 

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Rob Smith
 2   Reason for the notification
 a)  Position/status                                              Chief Financial 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 0.25p each
     Identification code                                          GB00BF339H01
 b)  Nature of the transaction                                    Purchase of Ordinary Shares
 c)  Price(s) and volumes(s)                                      Price(s)                     Volume(s)
     43 pence                                                                                  10,000
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      15 July 2024
 f)  Place of the transaction                                     AIM

 

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