REG - Velocity Composites - Directorate Change

Velocity CompositesAnnouncement

09/11/2022 07:00

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RNS Number : 7520F  Velocity Composites PLC  09 November 2022

9 November 2022

 

VELOCITY COMPOSITES PLC

("Velocity or the "Company")

 

DIRECTORATE CHANGE

 

Velocity Composites plc (AIM: VEL), the leading supplier of composite material
kits to aerospace and other high-performance manufacturers, is pleased to
announce the appointment of Adam Holden as Group Finance Director and Company
Secretary with effect from 7 December 2022.

 

Adam replaces Chris Williams whose departure was announced on 8 June 2022.
Chris will leave the Company on 16 December 2022 following an orderly
handover.

 

Adam has 19 years of experience in the accounting profession, beginning his
career at KPMG where he qualified as a Chartered Accountant. At KPMG, he
enjoyed a 10-year career auditing and advising a range of blue-chip clients.
He joins Velocity from Bright Blue Foods Limited ("Bright Blue Foods"), a
wholly owned subsidiary of BBF (Holdings) Limited ("BBF"), where he has been
Financial Controller since September 2016. BBF is a multi-site, private equity
backed manufacturer of ambient cakes and other baked goods, supplying the UK's
major supermarkets and other retail clients.  In Adam's time at Bright Blue
Foods, revenue increased to more than £165 million per annum through a
combination of acquisitions and organic growth.  Prior to joining Bright Blue
Foods, Adam was Financial Controller of Arriva Rail North.

 

Andy Beaden, Chairman, Velocity, said: "Adam brings to Velocity a strong
mixture of commercial manufacturing and professional accounting and reporting
experience. We look forward to working with him as we aim to capture the
opportunities created by the recovery of the global aerospace industry. I
would also like to thank Chris for his hard work and wish him all the best in
his future endeavours."

 

Regulatory disclosures

Adam John Holden (aged 40) does not hold, and has not held in the past five
years, any other directorships or partnerships.

 

Adam 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                                +44 (0) 1282 577577

 Andy Beaden, Chairman

 Jon Bridges, Chief Executive Officer

 Chris Williams, Finance Director

 Cenkos (Nominated Adviser and Broker)   +44 (0) 20 7397 8900

 Katy Birkin

 Ben Jeynes

 George Lawson

 SEC Newgate (Financial Communications)  +44 (0) 7540 106 366

 Robin Tozer / George Esmond             velocitycomposites@secnewgate.co.uk

About Velocity Composites

Based in Burnley, UK, Velocity Composites is the leading supplier of composite
material kits to aerospace and other high-performance manufacturers, that
reduce costs and improve sustainability. Customers include Airbus, Boeing,
Safran 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.

 

 

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