26 September 2024
VELOCITY COMPOSITES
PLC
("Velocity", the "Company", the "Group")
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 26 September 2024, 41,338
options over Velocity ordinary shares of 0.25 pence each ("Ordinary
Shares") were exercised at a price of 0.25p.
Application has been made for 41,338
Ordinary Shares to be admitted to trading on AIM ("Admission").
Admission is expected to occur on 7 October 2024 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 53,509,706 Ordinary Shares in issue. No Ordinary
Shares are held in treasury. The figure of 53,509,706 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
Rob Smith, 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
Nicholas 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
BAE Systems. Hamble Aerostructures, Safran Nacelles and GKN, who
supply to the major OEMs including Airbus, Boeing, GE, Rolls Royce
and Lockheed Martin.
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.