Exercise of Share Options and Issue of Equity

Velocity Composites PLC

28 March 2025

 

28 March 2025

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 28 March 2025, 17,000 options over Velocity ordinary shares of 0.25 pence each ("Ordinary Shares") were exercised by a member of staff at a price of 0.24p.

Application has been made for 17,000 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur on 3 April 2025 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 54,010,366 Ordinary Shares in issue.  No Ordinary Shares are held in treasury.  The figure of 54,010,366 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	[phone]
Andy Beaden, Chairman
Jon Bridges, CEO
Rob Smith, Chief Financial Officer
Canaccord Genuity Limited	[phone]
Nominated Adviser and Joint Broker
Max Hartley
George Grainger
Dowgate Capital Limited	[phone]
Joint Broker
Russell Cook
Nick Chambers
SEC Newgate	[phone]
Financial Communications	[e-mail]
Robin Tozer
George Esmond
Harry Handyside

About Velocity Composites plc

Based in Burnley, UK, Velocity is the leading supplier of composite material kits to aerospace and other high-performance manufacturers, 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.

 

END