Exercise of Options and Issue of Equity

RNS Number : 9055R

Velocity Composites PLC

06 March 2023

 

6 March 2023

Velocity Composites plc

("Velocity" or the "Company")

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 3 March 2023, a total of 461,788 options over Velocity ordinary shares of 0.25 pence each ("Ordinary Shares") were exercised at a price of 0.25p (the "Option Exercises").

The Option Exercises include the following dealings by PDMRs:

PDMR	Number of Options	Number of Ordinary Shares held following Option Exercise	Percentage of issued share capital following Admission
James Eastbury	155,932	155,932	0.42
Jeffrey Armitage	55,059	55,059	0.15

Application has been made for 461,788 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur on 9 March 2023 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 36,920,785 Ordinary Shares in issue.  No Ordinary Shares are held in treasury.  The figure of 36,920,785 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	[phone]
Cenkos Securities plc Nominated Adviser and Broker Katy Birkin Ben Jeynes George Lawson	[phone]
SEC Newgate Financial PR Robin Tozer George Esmond Harry Handyside	[phone] [e-mail]

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	James Eastbury
2	Reason for the notification
a)	Position/status	PDMR
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	Exercise of share options over ordinary shares of 0.25p each
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.0025	155,932
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	3 March 2023
f)	Place of the transaction	XOFF

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jeffrey Armitage
2	Reason for the notification
a)	Position/status	PDMR
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	Exercise of share options over ordinary shares of 0.25p each
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.0025	55,059
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	3 March 2023
f)	Place of the transaction	XOFF

 

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