PDMR Shareholding

RNS Number : 3206U

Velocity Composites PLC

27 March 2023

 

27 March 2023

Velocity Composites plc

("Velocity" or the "Company")

PDMR Shareholding

Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced composite material kits to the aerospace market, announces that on 23 March 2023, James Eastbury, a PDMR of the Company sold 80,000 ordinary shares of 0.25 pence each ("Ordinary Shares") at a price of 33.15 pence per Ordinary Share. The sale was primarily to fund the income tax associated with the option exercise announced on 6 March 2023. The share options had originally been granted as part of the salary sacrifice arrangements which were a result of the cost reduction programme announced on 17 December 2020.

Following this transaction, James Eastbury beneficially holds 75,932 Ordinary Shares representing 0.21 per cent. of the Company's issued share capital.

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	Sale of Ordinary Shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.3315	80,000
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	23 March 2023
f)	Place of the transaction	XOFF

 

END

 

 

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