TIDMVEL

RNS Number : 4581G

Velocity Composites PLC

29 March 2022

29 March 2022

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 29 March 2022, Andrew Beaden, Non-executive Chairman, exercised 108,475 options over Velocity ordinary shares of 0.25 pence each ("Ordinary Shares") at a price of 0.25p.

Application has been made for 108,475 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur on 5 April 2022 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 36,411,539 Ordinary Shares in issue. No Ordinary Shares are held in treasury. The figure of 36,411,539 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                                             +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                                      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              Ordinary shares of 0.25p each 
        instrument, type of instrument 
      ----------------------------------------  ---------------------------------- 
       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) 
      ----------------------------------------  ------------------  -------------- 
                                                         GBP0.0025         108,475 
  ----------------------------------------------------------------  -------------- 
 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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(END) Dow Jones Newswires

March 29, 2022 12:30 ET (16:30 GMT)

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