REG - Velocity Composites - Directorate Change

Velocity CompositesAnnouncement

23/08/2023 15:00

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RNS Number : 2485K  Velocity Composites PLC  23 August 2023

23 August 2023

 

Velocity Composites plc

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

 

Directorate Change

 

Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced
composite material kits to the aerospace market and other high-performance
manufacturers, announces that Adam Holden has stepped down from his position
as Group Finance Director and Company Secretary with immediate effect. He will
leave the Company on 31 August 2023 and remains committed to the Group until
his departure, providing an orderly handover.

 

As a result, the Company has appointed Andrew Hebb as non-Board Interim Chief
Financial Officer and Company Secretary with immediate effect. Mr Hebb was
Velocity's non-Board Interim Chief Financial Officer and Company Secretary
between November 2018 and August 2020.

 

A qualified Fellow Chartered Management Accountant, Andrew has been a
professional interim CFO for several AIM quoted and private companies across a
range of sectors since 2009. Prior to that, as CFO, Andrew helped build Hedra
Plc into a major public sector consulting business and managed the sale
process in 2008. He has held CFO and operational roles in other major UK
companies.

 

The Company will commence a process to identify and appoint a new Group
Finance Director and Company Secretary shortly and further announcements will
be made, as appropriate.

 

Enquiries:

 Velocity                                Tel: +44 (0) 1282 577577
 Andy Beaden, Chairman

 Jon Bridges, Chief Executive Officer

 Cenkos (Nominated Adviser and Broker)   Tel: +44 (0)20 7397 8900
 Katy Birkin

 Ben Jeynes

 George Lawson

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

 Robin Tozer                             Email: velocity@secnewgate.co.uk

 George Esmond

 Harry Handyside

 

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, 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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