6 March 2023
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 3 March 2023, a total of 461,788 options over Velocity ordinary shares of 0.25 pence each ("Ordinary Shares") were exercised at a price of 0.25p (the "Option Exercises").
The Option Exercises include the following dealings by PDMRs:
| PDMR | Number of Options | Number of Ordinary Shares held following Option Exercise | Percentage of issued share capital following Admission |
| James Eastbury | 155,932 | 155,932 | 0.42 |
| Jeffrey Armitage | 55,059 | 55,059 | 0.15 |
Application has been made for 461,788 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur on 9 March 2023 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 36,920,785 Ordinary Shares in issue. No Ordinary Shares are held in treasury. The figure of 36,920,785 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
| +44 (0) 1282 577577 |
|
Cenkos Securities plc Nominated Adviser and Broker Katy Birkin Ben Jeynes George Lawson
|
+44 (0) 20 7397 4000 |
| SEC Newgate Financial PR Robin Tozer George Esmond Harry Handyside
| +44 (0)7540 106 366 velocity@secnewgate.co.uk |
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 | Exercise of share options over ordinary shares of 0.25p each | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| £0.0025 | 155,932 | ||
| d) | Aggregated information | N/A single transaction | |
| | Aggregated volume | N/A single transaction | |
| | Price | N/A single transaction | |
| e) | Date of the transaction | 3 March 2023 | |
| f) | Place of the transaction | XOFF | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Jeffrey Armitage | |
| 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 | Exercise of share options over ordinary shares of 0.25p each | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| £0.0025 | 55,059 | ||
| d) | Aggregated information | N/A single transaction | |
| | Aggregated volume | N/A single transaction | |
| | Price | N/A single transaction | |
| e) | Date of the transaction | 3 March 2023 | |
| f) | Place of the transaction | XOFF | |
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