Issue of Options

RNS Number : 3414U

Velocity Composites PLC

23 October 2017

 

23 October 2017

Velocity Composites plc

("Velocity" or the "Company")

Issue of Options

Velocity Composites plc, the leading supplier of advanced composite material kits, providing engineering value-solutions for the global aerospace industry, announces that the Company has issued a total of 35,000 options to subscribe for new ordinary shares in the Company under the Velocity Composites Limited Enterprise Management Incentive and Unapproved Scheme, as adopted by the Board on 09 March 2017, to various employees and a PDMR of the Company (the "Options"). The Options shall become exercisable on or after the second anniversary of the grant date.

The Options are exercisable at 69.26 pence and will expire on the day before the tenth anniversary of the grant date. Details of the PDMR award are in the disclosure notice at the end of this announcement.

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 / Sultan Awan (Corporate Broking)	Tel: [phone]
Camarco (Financial PR) Georgia Edmonds / James Crothers	Tel: [phone]

About Velocity Composites

Velocity Composites is a manufacturer of composite material kits for the aerospace industry, delivering engineered kits for its customers to build component parts. The Company's clients 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 A330, A350, A380, Eurofighter Typhoon, F35 Joint Strike Fighter and Bell Boeing 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 Composites also exports to Denmark, France, and Belgium.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

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	Matthew Archer
2.	Reason for the Notification
a)	Position/status	Chief Commercial 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	Options to subscribe for new ordinary shares of 0.25p each
	Identification code	VEL  GB00BF339H01
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Volume - 25,000 Price - 69.26p
d)	Aggregated information: Aggregated volume Price	See 4c) above
e)	Date of the transaction	Share Options as described in 4c) Granted 17 October 2017
f)	Place of the transaction	Outside of a trading venue

 

END

 

 

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