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

Velocity CompositesAnnouncement

20/12/2024 15:30

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RNS Number : 9959Q  Velocity Composites PLC  20 December 2024

20 December 2024

Velocity Composites plc

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

 

Exercise of Share Options and Issue of Equity

 

Velocity Composites plc (AIM: VEL), the leading supplier of composite material
kits to aerospace, has been notified that, on 18 December 2024, a total of
483,660 options over Velocity ordinary shares of 0.25 pence each ("Ordinary
Shares") were exercised at a price of 0.25p (the "Option Exercises").
Following the exercises, sufficient Ordinary Shares were sold to cover the tax
liabilities ("Disposals)".

 

The Option Exercises and Disposals include the following dealings by PDMRs:

 

 PDMR              Number of Options  Disposals  Number of Ordinary Shares held following Option Exercise and Disposal  Percentage of issued share capital following Admission
 Andy Beaden       249,035            Nil        930,010                                                                1.72%
 Annette Rothwell  96,674             18,127     78,547                                                                 0.15%
 David Bailey      75,734             23,421     52,313                                                                 0.10%

 

Application has been made for 483,660 Ordinary Shares to be admitted to
trading on AIM ("Admission"). Admission is expected to occur on 24 December
2024 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 53,993,366 Ordinary Shares in
issue.  No Ordinary Shares are held in treasury.  The figure of 53,993,366
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

 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.

 

 

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                                                         Andy Beaden
 2   Reason for the notification
 a)  Position/status                                              Chairman
 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 0.25 pence each
     Identification code                                          GB00BF339H01
 b)  Nature of the transaction                                    Exercise of share options over ordinary shares of 0.25p each AND disposal of
                                                                  sufficient shares to discharge tax liability upon exercise
 c)  Price(s) and volumes(s)                                      Price  Volume
                                                                  Option Exercise  n/a    249,035
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Aggregated Price                                             N/A single transaction
 e)  Date of the transaction                                      Option Exercise:  18 December 2024
 f)  Place of the transaction                                     Option Exercise: XOFF

d)

Aggregated information

N/A single transaction

Aggregated volume

N/A single transaction

Aggregated Price

N/A single transaction

e)

Date of the transaction

Option Exercise:  18 December 2024

f)

Place of the transaction

Option Exercise: XOFF

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Annette Rothwell
 2   Reason for the notification
 a)  Position/status                                              NED
 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 0.25 pence each
     Identification code                                          GB00BF339H01
 b)  Nature of the transaction                                    Exercise of share options over ordinary shares of 0.25p each AND disposal of
                                                                  sufficient shares to discharge tax liability upon exercise
 c)  Price(s) and volumes(s)                                      Price  Volume
                                                                  Option Exercise  n/a    96,674
                                                                  Disposal         25.5p  18,127
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Aggregated Price                                             N/A single transaction
 e)  Date of the transaction                                      Option Exercise:  18 December 2024

                                                                  Disposal: 20 December 2024
 f)  Place of the transaction                                     Option Exercise: XOFF

                                                                  Disposal: AIM

d)

Aggregated information

N/A single transaction

Aggregated volume

N/A single transaction

Aggregated Price

N/A single transaction

e)

Date of the transaction

Option Exercise:  18 December 2024

Disposal: 20 December 2024

f)

Place of the transaction

Option Exercise: XOFF

Disposal: AIM

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         David Bailey
 2   Reason for the notification
 a)  Position/status                                              NED
 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 0.25 pence each
     Identification code                                          GB00BF339H01
 b)  Nature of the transaction                                    Exercise of share options over ordinary shares of 0.25p each AND disposal of
                                                                  sufficient shares to discharge tax liability upon exercise
 c)  Price(s) and volumes(s)                                      Price  Volume
                                                                  Option Exercise  n/a    75,734
                                                                  Disposal         25.5p  23,421
 d)  Aggregated information                                       N/A single transaction
     Aggregated volume                                            N/A single transaction
     Aggregated Price                                             N/A single transaction
 e)  Date of the transaction                                      Option Exercise:  18 December 2024

                                                                  Disposal: 20 December 2024
 f)  Place of the transaction                                     Option Exercise: XOFF

                                                                  Disposal: AIM

d)

Aggregated information

N/A single transaction

Aggregated volume

N/A single transaction

Aggregated Price

N/A single transaction

e)

Date of the transaction

Option Exercise:  18 December 2024

Disposal: 20 December 2024

f)

Place of the transaction

Option Exercise: XOFF

Disposal: AIM

 

 

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