RNS Number : 4784W
Velocity Composites PLC
16 July 2024
 

16 July 2024

Velocity Composites plc

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

 

PDMR shareholdings

 

Velocity Composites plc (AIM: VEL), the leading supplier of composite material kits to aerospace, has been notified that, on 12 July 2024, Jon Bridges, Chief Executive Officer, transferred 1,500,000 ordinary shares of 0.25 pence each ("Ordinary Shares") to his wife. Following this transfer, there is no change in the beneficial interest of shares in the Company of Jon Bridges.

 

In addition to this, the Company has been notified that, on 15 July 2024, Rob Smith, Chief Financial Officer, purchased 10,000 Ordinary Shares at 43 pence per Ordinary Share. Following this purchase, Rob Smith holds a beneficial interest in 20,000 Ordinary Shares representing approximately 0.04 per cent. of the Company's issued share capital.

 

The notifications below, made in accordance with the requirements of the UK Market Abuse Regulation, provide further details.

 

 

Enquiries:

 

Velocity Composites plc

Andy Beaden, Chairman

Jon Bridges, Chief Executive Officer

Rob Smith, Group Chief Financial Officer

 

+44 (0) 1282 577577

Canaccord Genuity Limited

Nominated Adviser and Joint Broker

Max Hartley

George Grainger

 

+44 (0) 20 7523 8000

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

velocity@secnewgate.co.uk

 

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

Jon Bridges

2

Reason for the notification

a)

Position/status

Chief Executive Officer

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

Transfer of Ordinary Shares to his wife

 

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

nil

1,500,000

d)

Aggregated information

N/A single transaction



Aggregated volume

N/A single transaction



Price

N/A single transaction

e)

Date of the transaction

12 July 2024

f)

Place of the transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Rob Smith

2

Reason for the notification

a)

Position/status

Chief Financial Officer

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

Purchase of Ordinary Shares

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

43 pence

10,000

d)

Aggregated information

N/A single transaction



Aggregated volume

N/A single transaction



Price

N/A single transaction

e)

Date of the transaction

15 July 2024

f)

Place of the transaction

AIM

 

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