Director/PDMR Shareholding

Velocity Composites PLC

16 July 2024

 

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	[phone]
Canaccord Genuity Limited Nominated Adviser and Joint Broker Max Hartley George Grainger	[phone]
Dowgate Capital Limited Joint Broker Russell Cook Nick Chambers	[phone]
SEC Newgate Financial Communications Robin Tozer George Esmond Harry Handyside	[phone] [e-mail]

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

 

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