REG - Velocity Composites - Exercise of Options and Issue of Equity

Velocity CompositesAnnouncement

06/03/2023 07:00

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RNS Number : 9055R  Velocity Composites PLC  06 March 2023

6 March 2023

 

Velocity Composites plc

("Velocity" or the "Company")

 

Exercise of Share Options and Issue of Equity

 

Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced
composite material kits to the aerospace market, announces that on 3 March
2023, a total of 461,788 options over Velocity ordinary shares of 0.25 pence
each ("Ordinary Shares") were exercised at a price of 0.25p (the "Option
Exercises").

 

The Option Exercises include the following dealings by PDMRs:

 

 PDMR              Number of Options  Number of Ordinary Shares held following Option Exercise  Percentage of issued share capital following Admission
 James Eastbury    155,932            155,932                                                   0.42
 Jeffrey Armitage  55,059             55,059                                                    0.15

 

Application has been made for 461,788 Ordinary Shares to be admitted to
trading on AIM ("Admission"). Admission is expected to occur on 9 March 2023
and the Ordinary Shares will, on issue, rank pari passu in all respects with
the Company's existing Ordinary Shares.

 

On Admission, the Company will have a total of 36,920,785 Ordinary Shares in
issue.  No Ordinary Shares are held in treasury.  The figure of 36,920,785
may be used by the Company's shareholders as the denominator in the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the Financial
Conduct Authority's Disclosure, Guidance and Transparency 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

 George Lawson

 SEC Newgate                            +44 (0)7540 106 366

 Financial PR                           velocity@secnewgate.co.uk

 Robin Tozer

 George Esmond

 Harry Handyside

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                                                         James Eastbury
 2   Reason for the notification
 a)  Position/status                                              PDMR
 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                                    Exercise of share options over ordinary shares of 0.25p each
 c)  Price(s) and volumes(s)                                      Price(s)                         Volume(s)
     £0.0025                                                                                       155,932
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      3 March 2023
 f)  Place of the transaction                                     XOFF

 

 

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Jeffrey Armitage
 2   Reason for the notification
 a)  Position/status                                              PDMR
 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                                    Exercise of share options over ordinary shares of 0.25p each
 c)  Price(s) and volumes(s)                                      Price(s)                         Volume(s)
     £0.0025                                                                                       55,059
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Price                                                        N/A single transaction
 e)  Date of the transaction                                      3 March 2023
 f)  Place of the transaction                                     XOFF

 

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