TIDMVEL

RNS Number : 4464G

Velocity Composites PLC

29 March 2022

29 March 2022

Velocity Composites plc

("Velocity" or the "Company")

Directorate Change and Grant of Options

Composites plc (AIM: VEL.L), the leading supplier of advanced composite material kits to the aerospace market, is pleased to announce the appointment of Annette Rothwell as an independent non-executive director, with immediate effect.

Ms. Rothwell is a seasoned VP level executive and board member with extensive experience in industries undergoing transformational change. She is a proven executive leader in General Management, Procurement and Supply Chain, Operational Excellence (CI) and Project Management working with senior stakeholders including regional and national government.

Since 2006 Ms. Rothwell has served in executive roles supporting CEOs within a number of global companies including FTSE100 listed Aerospace & Defence companies. She has extensive experience in and around supply chains and has been responsible for procurement and supply chain activity, operational improvement across multiple companies and multiple cultures. Since 2011, she has served as a director on the board of the Midlands Aerospace Alliance, the regional body for the Aerospace, Defence and Security industry.

In line with previously announced fee sacrifice arrangements for other directors and PDMRs, Ms Rothwell has today been granted 20,940 share options over Velocity ordinary shares of 0.25p each (the "Share Options") under the Company's Unapproved Option Scheme. The Share Options will become exercisable on 1 November 2022, have a vesting period of one year and are exercisable at a price of 0.25 pence.

Following the above grant, the Company has a total of 2,300,485 Ordinary Shares currently under option, representing approximately 6.34 per cent of the Company's issued share capital.

Andy Beaden, Chairman, commented:

"I am pleased to welcome Annette to the Board. She brings deep operational and strategic experience in our core market sector of aerospace, across international regions. along with a strong professional network and significant commercial successes in multiple blue chip businesses."

In addition to her appointment to the Velocity Board, Annette Rothwell, aged 54, has held the following directorships and/or partnerships in the past five years:

 
 Current Directorships/Partnerships   Past Directorships/Partnerships 
 AR Procurement Services Ltd          None 
  Midlands Aerospace Alliance

Annette Rothwell does not hold any Ordinary Shares in the Company and there are no further disclosures to be made pursuant to Schedule 2 paragraph (g) of the AIM 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                                             +44 (0) 20 7397 4000 
 SEC Newgate                                               +44 (0)7540 106 366 
  Financial PR                             velocitycomposites@secnewgate.co.uk 
  Robin Tozer / Richard Bicknell

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                                      Annette Rothwell 
      ----------------------------------------  ---------------------------------- 
 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              Ordinary shares of 0.25p each 
        instrument, type of instrument 
      ----------------------------------------  ---------------------------------- 
       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) 
      ----------------------------------------  ------------------  -------------- 
   GBP0.0025                                                         20,940 
  ----------------------------------------------------------------  -------------- 
 d)    Aggregated information                    N/A single transaction 
      ----------------------------------------  ---------------------------------- 
  Aggregated volume                         N/A single transaction 
 ----------------------------------------  --------------------------------------- 
  Price                                     N/A single transaction 
 ----------------------------------------  --------------------------------------- 
 e)    Date of the transaction                   29 March 2022 
      ----------------------------------------  ---------------------------------- 
 f)    Place of the transaction                  XOFF 
      ----------------------------------------  ----------------------------------

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END

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