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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