REG - Velocity Composites - Grant of Share Options
17/03/2022 11:00
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RNS Number : 1337F Velocity Composites PLC 17 March 2022
17 March 2022
Velocity Composites plc
("Velocity" or the "Company")
Grant of Share Options to Directors/PDMRs
Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced
composite material kits to the aerospace market, announces that on 16 March
2022, the Board awarded a total of 479,999 share options over Velocity
ordinary shares of 0.25p each (the "Share Options") to certain directors and
PDMRs as part of cash salary/fees sacrifice arrangements, related to the cost
reduction programme announced on 17 December 2020, as follows:
Shareholding Existing Options New Share Options Granted Total New Share Options as % of issued share capital
Held
Andy Beaden 400,000 108,475((1)) 76,235((1)) 0.21%
(Non-executive Chairman)
Robert Soen - 28,805((1)) 33,412((1)) 0.09%
(Non-executive Director
Christopher Williams - 272,268((2)) 103,529((2)) 0.29%
(Finance Director)
James Eastbury - 280,932((2)) 103,529((2)) 0.29%
(PDMR)
Matthew Archer - 480,932((2)) 108,235((2)) 0.30%
(PDMR)
Jeffrey Armitage - - 55,059((2)) 0.15%
(PDMR)
(1) Share Options awarded under the Company's Unapproved Option Scheme
(2) Share Options awarded under the Company's EMI scheme
All of the Share Options will become exercisable on 1 November 2022, have a
vesting period of one year and are exercisable at a price of 21.5 pence.
Following the above grants, the Company has a total of 2,279,545 Ordinary
Shares currently under option, representing approximately 6.28 per cent of the
Company's issued share capital.
Enquiries:
Velocity Composites plc +44 (0) 1282 577577
Andy Beaden, Chairman
Jon Bridges, Chief Executive Officer
+44 (0) 20 7397 4000
Cenkos Securities plc
Nominated Adviser and Broker
Katy Birkin
Ben Jeynes
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 Andrew Beaden
2 Reason for the notification
a) Position/status Non-executive 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 0.25p 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)
£0.215 76,235
d) Aggregated information N/A single transaction
Aggregated volume N/A single transaction
Price N/A single transaction
e) Date of the transaction 16 March 2022
f) Place of the transaction XOFF
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Robert Soen
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)
£0.215 33,412
d) Aggregated information N/A single transaction
Aggregated volume N/A single transaction
Price N/A single transaction
e) Date of the transaction 16 March 2022
f) Place of the transaction XOFF
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Christopher Williams
2 Reason for the notification
a) Position/status Finance 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)
£0.215 103,529
d) Aggregated information N/A single transaction
Aggregated volume N/A single transaction
Price N/A single transaction
e) Date of the transaction 16 March 2022
f) Place of the transaction XOFF
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name James Eastbury
2 Reason for the notification
a) Position/status PDMR/Customer Programmes 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)
£0.215 103,529
d) Aggregated information N/A single transaction
Aggregated volume N/A single transaction
Price N/A single transaction
e) Date of the transaction 16 March 2022
f) Place of the transaction XOFF
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Matthew Archer
2 Reason for the notification
a) Position/status PDMR/Commercial and Supply Chain 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)
£0.215 108,235
d) Aggregated information N/A single transaction
Aggregated volume N/A single transaction
Price N/A single transaction
e) Date of the transaction 16 March 2022
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/Strategic Operation 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)
£0.215 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 16 March 2022
f) Place of the transaction XOFF
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