11 March 2024
Velocity Composites plc
("Velocity" or the "Company")
Appointment of Chief Financial Officer
Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced composite material kits to the aerospace market, is pleased to announce the appointment of Robert (Rob) Smith to the Board of the Company as Group Chief Financial Officer (CFO) and Company Secretary, with effect from 3 June 2024.
Rob is a chartered management accountant with significant experience in leadership roles in a number of AIM quoted technology companies, where he has been instrumental in leading growth strategies and improving operational efficiencies. Rob has a proven track record in advanced manufacturing at both CFO and CEO level, including manufacturing systems implementation and international commercial leadership. Most recently Rob served as Group CFO at Biome Technologies plc and prior to that, in the CFO and CEO roles at Filtronic plc between 2014 and 2020, an electronics designer and manufacturer of advanced filters, antennas and transceivers.
Rob was Finance Director of APC Technology Group, a specialist distributor and manufacturer of electronic components and semiconductor products with a focus on green technology industries between 2010 and 2014.
The Board would like to thank Andrew Hebb for his significant contribution as the Company's Interim Chief Financial Officer since August 2023.
Andy Beaden, Chairman, commented:
"We are delighted to have Rob join the board, as our new permanent CFO. Like Andrew Hebb, Rob has very significant experience as a seasoned CFO of AIM listed businesses. Rob comes with extensive knowledge of advanced manufacturing and international finance, especially in North America and Continental Europe. This enables him to support our growth strategy and lead development of our finance function as we continue our international expansion."
Regulatory Disclosures
In accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies, Robert St John Smith (aged 59) is, or has been within the last five years, a director or partner in the following companies and partnerships:
| Current directorships/partnerships | Directorships/partnerships held within the last five years |
| Aquasol Limited Biome Bioplastics Limited Biome Technologies plc Biome Bioplastics Inc. Ingel Technologies Limited Stanelco RF Technologies Limited
| Autocore Limited Filtronic plc Filtronic Broadband Limited Filtronic Holdings UK Limited Filtronic Wireless Limited Filtronic Wireless Inc Kaelus Antennas AB (formerly Filtronic Wireless AB) Filtronic Wireless Suzhou Isotek Limited Isotek (Holdings) Limited Isotek Hong Kong Holdings Limited Isotek Suzhou Limited Remanufactured Systems Limited |
Mr Smith does not currently hold any ordinary shares in the Company.
Enquiries:
| Velocity Composites plc Andy Beaden, Chairman Jon Bridges, Chief Executive Officer Andrew Hebb, Interim Chief Financial Officer
| +44 (0) 1282 577577 |
| Cavendish Capital Markets Limited Nominated Adviser and Joint Broker Katy Birkin Ben Jeynes George Lawson
|
+44 (0) 20 7220 0500 |
| Dowgate Capital Limited Joint Broker Russell Cook Nick Chambers
|
+44 (0) 20 3903 7715
|
| SEC Newgate Financial Communications Robin Tozer George Esmond Harry Handyside
|
+44 (0)7540 106 366 |
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