Source - Alliance News

Velocity Composites PLC - Burnley, England-based supplier of composite material kits to aerospace and other high-performance manufacturers - Reports 497,583 shares will be issued at 40 pence each to existing retail investors following closure of the retail offer, raising around £199,000. In total, says £1.4 million was raised via a placing, subscription and retail offer with 3.5 million shares issued. Further, company has raised £5 million through the issue of 12.5 million enterprise investment scheme/venture capital trust placing shares at 40p. The EIS/VCT placing is subject to shareholder approval at the general meeting on August 29.

Current stock price: 41.25 pence

12-month change: more than doubled from 19.00p

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Velocity Composites PLC (VEL)

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