Exercise of Share Options and Issue of Equity

Velocity Composites PLC

20 December 2024

 

20 December 2024

Velocity Composites plc

("Velocity", the "Company", the "Group")

Exercise of Share Options and Issue of Equity

Velocity Composites plc (AIM: VEL), the leading supplier of composite material kits to aerospace, has been notified that, on 18 December 2024, a total of 483,660 options over Velocity ordinary shares of 0.25 pence each ("Ordinary Shares") were exercised at a price of 0.25p (the "Option Exercises"). Following the exercises, sufficient Ordinary Shares were sold to cover the tax liabilities ("Disposals)".

The Option Exercises and Disposals include the following dealings by PDMRs:

PDMR	Number of Options	Disposals	Number of Ordinary Shares held following Option Exercise and Disposal	Percentage of issued share capital following Admission
Andy Beaden	249,035	Nil	930,010	1.72%
Annette Rothwell	96,674	18,127	78,547	0.15%
David Bailey	75,734	23,421	52,313	0.10%

Application has been made for 483,660 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur on 24 December 2024 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 53,993,366 Ordinary Shares in issue.  No Ordinary Shares are held in treasury.  The figure of 53,993,366 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 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	Andy Beaden
2	Reason for the notification
a)	Position/status	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 0.25 pence each
	Identification code	GB00BF339H01
b)	Nature of the transaction	Exercise of share options over ordinary shares of 0.25p each AND disposal of sufficient shares to discharge tax liability upon exercise
c)	Price(s) and volumes(s)	Price Volume Option Exercise n/a 249,035
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Aggregated Price	N/A single transaction
e)	Date of the transaction	Option Exercise:  18 December 2024
f)	Place of the transaction	Option Exercise: XOFF

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Annette Rothwell
2	Reason for the notification
a)	Position/status	NED
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 0.25 pence each
	Identification code	GB00BF339H01
b)	Nature of the transaction	Exercise of share options over ordinary shares of 0.25p each AND disposal of sufficient shares to discharge tax liability upon exercise
c)	Price(s) and volumes(s)	Price Volume Option Exercise n/a 96,674 Disposal 25.5p 18,127
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Aggregated Price	N/A single transaction
e)	Date of the transaction	Option Exercise:  18 December 2024 Disposal: 20 December 2024
f)	Place of the transaction	Option Exercise: XOFF Disposal: AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Bailey
2	Reason for the notification
a)	Position/status	NED
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 0.25 pence each
	Identification code	GB00BF339H01
b)	Nature of the transaction	Exercise of share options over ordinary shares of 0.25p each AND disposal of sufficient shares to discharge tax liability upon exercise
c)	Price(s) and volumes(s)	Price Volume Option Exercise n/a 75,734 Disposal 25.5p 23,421
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Aggregated Price	N/A single transaction
e)	Date of the transaction	Option Exercise:  18 December 2024 Disposal: 20 December 2024
f)	Place of the transaction	Option Exercise: XOFF Disposal: AIM

 

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