Director Dealing

RNS Number : 8222M

Velocity Composites PLC

02 May 2018

 

2 May 2018                                                                                                                                  

Velocity Composites plc

("Velocity" or the "Company")

Director Dealing

Velocity Composites plc, the leading supplier of advanced composite material kits, providing engineering value-solutions for the global aerospace industry, announces that it was notified on 1 May 2018 that on that same day, Mark Mills, Non-Executive Chairman of the Company, purchased 90,000 ordinary shares of 0.25 pence each ("Ordinary Shares") at a price of 55 pence per Ordinary Share (the "Purchase").

Following the Purchase, Mr. Mills has a beneficial interest in 2,124,024 Ordinary Shares representing approximately 5.93% of the issued share capital of the Company. 

Ends

CONTACT DETAILS:

Velocity Jon Bridges, CEO Alan Kershaw, CFO	c/o Camarco Tel: [phone]
finnCap (Nominated Adviser and Broker) Adrian Hargrave / Scott Mathieson / Kate Bannatyne (Corporate Finance) Tim Redfern (Corporate Broking)	Tel: [phone]
Camarco (Financial PR) Georgia Edmonds / Owen Roberts / James Crothers	Tel: [phone]

About Velocity Composites

Velocity Composites is a manufacturer of advanced composite material kits for the aerospace industry, delivering engineered waste reduction solutions for its customers to build aircraft components using less time and material. The Company's customers include multi-national manufacturers of composite parts and assemblies, who in turn deliver to the world's leading civil and military aircraft manufacturers. The Airbus A320, A330, A350, A380, Eurofighter Typhoon, F35 Joint Strike Fighter and Boeing 737, 787 and V22 Osprey are all constructed using parts manufactured from Velocity's kits. The Company's business model reduces the operating costs of preparing composite materials ahead of their usage in the construction of an aircraft part and as such, its offering is disposed to being self-financing for aircraft parts' manufacturers. Velocity's services are seeing increased demand as the global aircraft industry enters a more-for-less era.

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	Mark Mills
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 instrument, type of instrument	Ordinary shares of 0.25 pence each ("Ordinary Shares")
	Identification code	VEL  GB00BF339H01
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Volume - 90,000 Ordinary Shares Price - 55 pence per Ordinary Share
d)	Aggregated information: Aggregated volume Price	See 4c) above
e)	Date of the transaction	1 May 2018
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

 

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