REG - Velocity Composites - Director/PDMR Shareholding

Velocity CompositesAnnouncement

04/11/2024 16:45

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RNS Number : 8737K  Velocity Composites PLC  04 November 2024

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                    +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                                                         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

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

 

 

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