Velocity Composites PLC Director Dealing (8222M)
02 May 2018 - 4:01PM
UK Regulatory
TIDMVEL
RNS Number : 8222M
Velocity Composites PLC
02 May 2018
2 May 2018
Velocity Composites plc
("Velocity" or the "Company")
Director Dealing
Velocity Composites plc, the leading supplier of advanced
composite material kits, providing engineering value-solutions for
the global aerospace industry, announces that it was notified on 1
May 2018 that on that same day, Mark Mills, Non-Executive Chairman
of the Company, purchased 90,000 ordinary shares of 0.25 pence each
("Ordinary Shares") at a price of 55 pence per Ordinary Share (the
"Purchase").
Following the Purchase, Mr. Mills has a beneficial interest in
2,124,024 Ordinary Shares representing approximately 5.93% of the
issued share capital of the Company.
Ends
CONTACT DETAILS:
Velocity c/o Camarco
Jon Bridges, CEO Tel: 020
Alan Kershaw, CFO 3757 4980
finnCap (Nominated Adviser and Broker) Tel: 020
Adrian Hargrave / Scott Mathieson 7220 0500
/ Kate Bannatyne (Corporate Finance)
Tim Redfern (Corporate Broking)
Camarco (Financial PR) Tel: 020
Georgia Edmonds / Owen Roberts / 3757 4980
James Crothers
About Velocity Composites
Velocity Composites is a manufacturer of advanced composite
material kits for the aerospace industry, delivering engineered
waste reduction solutions for its customers to build aircraft
components using less time and material. The Company's customers
include multi-national manufacturers of composite parts and
assemblies, who in turn deliver to the world's leading civil and
military aircraft manufacturers. The Airbus A320, A330, A350, A380,
Eurofighter Typhoon, F35 Joint Strike Fighter and Boeing 737, 787
and V22 Osprey are all constructed using parts manufactured from
Velocity's kits. The Company's business model reduces the operating
costs of preparing composite materials ahead of their usage in the
construction of an aircraft part and as such, its offering is
disposed to being self-financing for aircraft parts' manufacturers.
Velocity's services are seeing increased demand as the global
aircraft industry enters a more-for-less era.
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 Mark Mills
------------------------------- --------------------------------
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 Ordinary shares of 0.25
the Financial pence each ("Ordinary Shares")
instrument, type
of instrument
Identification VEL GB00BF339H01
code
------------------------------- --------------------------------
b) Nature of the Purchase of Ordinary Shares
transaction
------------------------------- --------------------------------
c) Price(s) and volume(s) Volume - 90,000 Ordinary
Shares
Price - 55 pence per Ordinary
Share
------------------------------- --------------------------------
d) Aggregated information:
Aggregated volume See 4c) above
Price
------------------------------- --------------------------------
e) Date of the transaction 1 May 2018
------------------------------- --------------------------------
f) Place of the transaction London Stock Exchange,
AIM Market (XLON)
------------------------------- --------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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