Source - LSE Regulatory
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

Andy Beaden, Chairman

Jon Bridges, Chief Executive Officer

 

+44 (0) 1282 577577

 

Cenkos Securities plc

Nominated Adviser and Broker

Katy Birkin

Ben Jeynes

George Lawson

 

 

 

+44 (0) 20 7397 4000

SEC Newgate

Financial PR

Robin Tozer

George Esmond

Harry Handyside

 

 

+44 (0)7540 106 366

velocity@secnewgate.co.uk

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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