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
| +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 | 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 | |
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