Velocity Composites PLC Directorate Change (7520F)
09 November 2022 - 6:00PM
UK Regulatory
TIDMVEL
RNS Number : 7520F
Velocity Composites PLC
09 November 2022
9 November 2022
VELOCITY COMPOSITES PLC
("Velocity or the "Company")
DIRECTORATE CHANGE
Velocity Composites plc (AIM: VEL), the leading supplier of
composite material kits to aerospace and other high-performance
manufacturers, is pleased to announce the appointment of Adam
Holden as Group Finance Director and Company Secretary with effect
from 7 December 2022.
Adam replaces Chris Williams whose departure was announced on 8
June 2022. Chris will leave the Company on 16 December 2022
following an orderly handover.
Adam has 19 years of experience in the accounting profession,
beginning his career at KPMG where he qualified as a Chartered
Accountant. At KPMG, he enjoyed a 10-year career auditing and
advising a range of blue-chip clients. He joins Velocity from
Bright Blue Foods Limited ("Bright Blue Foods"), a wholly owned
subsidiary of BBF (Holdings) Limited ("BBF"), where he has been
Financial Controller since September 2016. BBF is a multi-site,
private equity backed manufacturer of ambient cakes and other baked
goods, supplying the UK's major supermarkets and other retail
clients. In Adam's time at Bright Blue Foods, revenue increased to
more than GBP165 million per annum through a combination of
acquisitions and organic growth. Prior to joining Bright Blue
Foods, Adam was Financial Controller of Arriva Rail North.
Andy Beaden, Chairman, Velocity, said: "Adam brings to Velocity
a strong mixture of commercial manufacturing and professional
accounting and reporting experience. We look forward to working
with him as we aim to capture the opportunities created by the
recovery of the global aerospace industry. I would also like to
thank Chris for his hard work and wish him all the best in his
future endeavours."
Regulatory disclosures
Adam John Holden (aged 40) does not hold, and has not held in
the past five years, any other directorships or partnerships.
Adam 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
Andy Beaden, Chairman
Jon Bridges, Chief Executive Officer
Chris Williams, Finance Director +44 (0) 1282 577577
Cenkos (Nominated Adviser and Broker)
Katy Birkin
Ben Jeynes
George Lawson +44 (0) 20 7397 8900
SEC Newgate (Financial Communications) +44 (0) 7540 106 366
Robin Tozer / George Esmond velocitycomposites@secnewgate.co.uk
About Velocity Composites
Based in Burnley, UK, Velocity Composites is the leading
supplier of composite material kits to aerospace and other
high-performance manufacturers, that reduce costs and improve
sustainability. Customers include Airbus, Boeing, Safran and
GKN.
By using Velocity's proprietary technology, manufacturers can
also free up internal resources to focus on their core business.
Velocity has significant potential for expansion, both in the UK
and abroad, including into new market areas, such as wind energy,
urban air mobility and electric vehicles, where the demand for
composites is expected to grow.
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END
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