REG - Velocity Composites - Director/PDMR Shareholding

Velocity CompositesAnnouncement

24/12/2024 07:00

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RNS Number : 1665R  Velocity Composites PLC  24 December 2024

24 December 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, further to the exercise of share options and issue of
equity reported on 20 December 2024, the Company has been notified that, on 24
December 2024, Jon Bridges, Chief Executive Officer, holdings in the Company
have been diluted to 9.94% (previously 10.04%). Mr. Bridges' beneficial
holdings remain unchanged at 5,365,929 Ordinary Shares.

 

The TR-1, below, contains the full details of Mr. Bridges beneficial holdings.

 

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.

 

TR-1: Standard form for notification of major holdings

 

 NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the
 FCA in Microsoft Word format if possible) (i)

 1a. Identity of the issuer or the underlying issuer of existing shares to                                                                                    Velocity Composites plc
 which voting rights are attached (ii):
 1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X"
 if appropriate)
 Non-UK issuer
 2. Reason for the notification (please mark the appropriate box or boxes with
 an "X")
 An acquisition or disposal of voting rights
 An acquisition or disposal of financial instruments
 An event changing the breakdown of voting rights                                                                                                                                                                                                          X
 Other (please specify) (iii):
 3. Details of person subject to the notification obligation (iv)
 Name                                                                                                                                                         Jonathan Karl Bridges
 City and country of registered office (if applicable)
 4. Full name of shareholder(s) (if different from 3.) (v)
 Name
 City and country of registered office (if applicable)
 5. Date on which the threshold was crossed or reached (vi):                                                                                                  24 December 2024
 6. Date on which issuer notified (DD/MM/YYYY):                                                                                                               24 December 2024
 7. Total positions of person(s) subject to the notification obligation
                                                                            % of voting rights attached to shares (total of 8. A)  % of voting rights through financial instruments      Total of both in % (8.A + 8.B)  Total number of voting rights held in issuer (8.A + 8.B) (vii)

(total of 8.B 1 + 8.B 2)
 Resulting situation on the date on which threshold was crossed or reached  9.94%                                                  None                                                  9.94%                           5,365,929
 Position of previous notification (if                                      10.04%                                                 None                                                  10.04%

 applicable)

 

 8. Notified details of the resulting situation on the date on which the
 threshold was crossed or reached (viii)
 A: Voting rights attached to shares
 Class/type of                                     Number of voting rights (ix)                                              % of voting rights

shares

 ISIN code (if possible)
                                                   Direct                    Indirect                                        Direct                                           Indirect

                                                   (DTR5.1)                   (DTR5.2.1)                                     (DTR5.1)                                         (DTR5.2.1)
 Ordinary shares of 0.25 pence each.               5,365,929                                                                 9.94%

 GB00BF339H01

 SUBTOTAL 8. A                                     5,365,929                                                                 9.94%

 B 1: Financial Instruments according to DTR5.3.1R (1) (a)
 Type of financial instrument                      Expiration  Exercise/                             Number of voting rights that may be acquired if the instrument is        % of voting rights

date (x)
Conversion Period (xi)

                                                                                                     exercised/converted.

                                                               SUBTOTAL 8. B 1

 B 2: Financial Instruments with similar economic effect according to DTR5.3.1R
 (1) (b)
 Type of financial instrument  Expiration                      Exercise/                   Physical or cash                                          Number of voting rights  % of voting rights

date (x)
Conversion Period (xi)

                                                                                           Settlement (xii)

                                                                                           SUBTOTAL 8.B.2

 

 9. Information in relation to the person subject to the notification
 obligation (please mark the

 applicable box with an "X")
 Person subject to the notification obligation is not controlled by any natural                                                                                                                                           X
 person or legal entity and does not control any other undertaking(s) holding
 directly or indirectly an interest in the (underlying) issuer (xiii)
 Full chain of controlled undertakings through which the voting rights and/or
 the

financial instruments are effectively held starting with the ultimate
 controlling natural person or legal entity (please add additional rows as
 necessary) (xiv)
 Name (xv)                   % of voting rights if it equals or is higher than the notifiable threshold  % of voting rights through financial instruments if it equals or is higher  Total of both if it equals or is higher than the notifiable threshold
                                                                                                         than the notifiable threshold

 10. In case of proxy voting, please identify:
 Name of the proxy holder
 The number and % of voting rights held
 The date until which the voting rights will be held

 11. Additional information (xvi)

 

 Place of completion  Lancashire, England
 Date of completion   24 December 2024

 

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