16 July 2024
Velocity Composites
plc
("Velocity", the "Company", the "Group")
PDMR
shareholdings
Velocity Composites plc (AIM: VEL),
the leading supplier of composite material kits to aerospace, has
been notified that, on 12 July 2024, Jon Bridges, Chief Executive
Officer, transferred 1,500,000 ordinary shares of 0.25 pence each
("Ordinary Shares") to his
wife. Following this transfer, there is no change in the beneficial
interest of shares in the Company of Jon Bridges.
In addition to this, the Company has
been notified that, on 15 July 2024, Rob Smith, Chief Financial
Officer, purchased 10,000 Ordinary Shares at 43 pence per Ordinary
Share. Following this purchase, Rob Smith holds a beneficial
interest in 20,000 Ordinary Shares representing approximately 0.04
per cent. of the Company's issued share capital.
The notifications below, made in
accordance with the requirements of the UK Market Abuse Regulation,
provide further details.
Enquiries:
|
Velocity Composites plc
Andy Beaden, Chairman
Jon Bridges, Chief Executive
Officer
Rob Smith, Group Chief Financial
Officer
|
+44 (0)
1282 577577
|
|
Canaccord Genuity Limited
Nominated Adviser and Joint Broker
Max Hartley
George Grainger
|
+44 (0) 20
7523 8000
|
|
Dowgate Capital Limited
Joint Broker
Russell Cook
Nick Chambers
|
+44 (0) 20
3903 7715
|
|
SEC
Newgate
Financial Communications
Robin Tozer
George Esmond
Harry Handyside
|
+44
(0)7540 106 366
velocity@secnewgate.co.uk
|
About Velocity Composites
plc
Based in Burnley, UK, Velocity is
the leading supplier of composite material kits to aerospace, that
reduce costs and improve sustainability. Customers include
Airbus, Boeing, 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.
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
|
Jon Bridges
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Executive Officer
|
|
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
|
Transfer of Ordinary Shares to his
wife
|
|
c)
|
Price(s) and volumes(s)
|
Price(s)
|
Volume(s)
|
|
nil
|
1,500,000
|
|
d)
|
Aggregated information
|
N/A single transaction
|
|
|
Aggregated volume
|
N/A single transaction
|
|
|
Price
|
N/A single transaction
|
|
e)
|
Date of the transaction
|
12 July 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Rob Smith
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Financial Officer
|
|
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
|
Purchase of Ordinary
Shares
|
|
c)
|
Price(s) and volumes(s)
|
Price(s)
|
Volume(s)
|
|
43
pence
|
10,000
|
|
d)
|
Aggregated information
|
N/A single transaction
|
|
|
Aggregated volume
|
N/A single transaction
|
|
|
Price
|
N/A single transaction
|
|
e)
|
Date of the transaction
|
15 July 2024
|
|
f)
|
Place of the transaction
|
AIM
|