Exercise of Share Options and Issue of Equity

RNS Number : 4581G

Velocity Composites PLC

29 March 2022

 

29 March 2022

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 29 March 2022, Andrew Beaden, Non-executive Chairman, exercised 108,475 options over Velocity ordinary shares of 0.25 pence each ("Ordinary Shares") at a price of 0.25p.

Application has been made for 108,475 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur on 5 April 2022 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 36,411,539 Ordinary Shares in issue.  No Ordinary Shares are held in treasury.  The figure of 36,411,539 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	[phone]
SEC Newgate Financial PR Robin Tozer / Richard Bicknell	[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	Andrew Beaden
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 0.25p 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	108,475
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	29 March 2022
f)	Place of the transaction	XOFF

 

END

 

 

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