REG - Velocity Composites - Directorate Change and Grant of Options

Velocity CompositesAnnouncement

29/03/2022 16:00

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RNS Number : 4464G  Velocity Composites PLC  29 March 2022

29 March 2022

 

Velocity Composites plc

("Velocity" or the "Company")

 

Directorate Change and Grant of Options

 

Composites plc (AIM: VEL.L), the leading supplier of advanced composite
material kits to the aerospace market, is pleased to announce the appointment
of Annette Rothwell as an independent non-executive director, with immediate
effect.

Ms. Rothwell is a seasoned VP level executive and board member with extensive
experience in industries undergoing transformational change. She is a proven
executive leader in General Management, Procurement and Supply Chain,
Operational Excellence (CI) and Project Management working with senior
stakeholders including regional and national government.

Since 2006 Ms. Rothwell has served in executive roles supporting CEOs within a
number of global companies including FTSE100 listed Aerospace & Defence
companies.  She has extensive experience in and around supply chains and has
been responsible for procurement and supply chain activity, operational
improvement across multiple companies and multiple cultures.  Since 2011, she
has served as a director on the board of the Midlands Aerospace Alliance, the
regional body for the Aerospace, Defence and Security industry.

In line with previously announced fee sacrifice arrangements for other
directors and PDMRs, Ms Rothwell has today been granted 20,940 share options
over Velocity ordinary shares of 0.25p each (the "Share Options") under the
Company's Unapproved Option Scheme. The Share Options will become exercisable
on 1 November 2022, have a vesting period of one year and are exercisable at a
price of 0.25 pence.

 

Following the above grant, the Company has a total of 2,300,485 Ordinary
Shares currently under option, representing approximately 6.34 per cent of the
Company's issued share capital.

 

Andy Beaden, Chairman, commented:

"I am pleased to welcome Annette to the Board.  She brings deep operational
and strategic experience in our core market sector of aerospace, across
international regions. along with a strong professional network and
significant commercial successes in multiple blue chip businesses."

 

In addition to her appointment to the Velocity Board, Annette Rothwell, aged
54, has held the following directorships and/or partnerships in the past five
years:

 

 Current Directorships/Partnerships  Past Directorships/Partnerships
 AR Procurement Services Ltd         None

 Midlands Aerospace Alliance

 

Annette Rothwell does not hold any Ordinary Shares in the Company and there
are no further disclosures to be made pursuant to Schedule 2 paragraph (g) of
the AIM Rules.

 

Enquiries:

 

 Velocity Composites plc                +44 (0) 1282 577577

 Andy Beaden, Chairman

 Jon Bridges, Chief Executive Officer

 Cenkos Securities plc                  +44 (0) 20 7397 4000

 Nominated Adviser and Broker

 Katy Birkin

 Ben Jeynes

 SEC Newgate                            +44 (0)7540 106 366

 Financial PR                           velocitycomposites@secnewgate.co.uk

 Robin Tozer / Richard Bicknell

 

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                                                         Annette Rothwell

 2   Reason for the notification
 a)  Position/status                                              Non-executive Director

 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                                    Grant of share options over ordinary shares of 0.25p each

 c)  Price(s) and volumes(s)                                      Price(s)                       Volume(s)

     £0.0025                                                                                     20,940

 d)  Aggregated information                                       N/A single transaction

     Aggregated volume                                            N/A single transaction

     Price                                                        N/A single transaction

 e)  Date of the transaction                                      29 March 2022

 f)  Place of the transaction                                     XOFF

 

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