Grant of Share Options

RNS Number : 1337F

Velocity Composites PLC

17 March 2022

Velocity Composites plc

("Velocity" or the "Company")

Grant of Share Options to Directors/PDMRs

Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced composite material kits to the aerospace market, announces that on 16 March 2022, the Board awarded a total of 479,999 share options over Velocity ordinary shares of 0.25p each (the "Share Options") to certain directors and PDMRs as part of cash salary/fees sacrifice arrangements, related to the cost reduction programme announced on 17 December 2020, as follows:

	Shareholding	Existing Options Held	New Share Options Granted	Total New Share Options as % of issued share capital
Andy Beaden (Non-executive Chairman)	400,000	108,475⁽¹⁾	76,235⁽¹⁾	0.21%
Robert Soen (Non-executive Director	-	28,805⁽¹⁾	33,412⁽¹⁾	0.09%
Christopher Williams (Finance Director)	-	272,268⁽²⁾	103,529⁽²⁾	0.29%
James Eastbury (PDMR)	-	280,932⁽²⁾	103,529⁽²⁾	0.29%
Matthew Archer (PDMR)	-	480,932⁽²⁾	108,235⁽²⁾	0.30%
Jeffrey Armitage (PDMR)	-	-	55,059⁽²⁾	0.15%

(1) Share Options awarded under the Company's Unapproved Option Scheme

(2) Share Options awarded under the Company's EMI scheme

All of the Share Options will become exercisable on 1 November 2022, have a vesting period of one year and are exercisable at a price of 21.5 pence.

Following the above grants, the Company has a total of 2,279,545 Ordinary Shares currently under option, representing approximately 6.28 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

+44 (0) 20 7397 4000

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	Andrew Beaden
2	Reason for the notification
a)	Position/status	Non-executive Chairman
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	Grant of share options over ordinary shares of 0.25p each
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.215	76,235
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	16 March 2022
f)	Place of the transaction	XOFF

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Robert Soen
2	Reason for the notification
a)	Position/status	Non-executive Director
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	Grant of share options over ordinary shares of 0.25p each
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.215	33,412
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	16 March 2022
f)	Place of the transaction	XOFF

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Christopher Williams
2	Reason for the notification
a)	Position/status	Finance Director
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	Grant of share options over ordinary shares of 0.25p each
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.215	103,529
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	16 March 2022
f)	Place of the transaction	XOFF

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	James Eastbury
2	Reason for the notification
a)	Position/status	PDMR/Customer Programmes Director
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	Grant of share options over ordinary shares of 0.25p each
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.215	103,529
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	16 March 2022
f)	Place of the transaction	XOFF

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Matthew Archer
2	Reason for the notification
a)	Position/status	PDMR/Commercial and Supply Chain Director
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	Grant of share options over ordinary shares of 0.25p each
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.215	108,235
d)	Aggregated information	N/A single transaction
	Aggregated volume	N/A single transaction
	Price	N/A single transaction
e)	Date of the transaction	16 March 2022
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/Strategic Operation Director
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	Grant of share options over ordinary shares of 0.25p each
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.215	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	16 March 2022
f)	Place of the transaction	XOFF

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END

DSHUBVRRUSUOAAR

TIDM	VEL
Share Price	16.90p-5.56%
Market Cap	£9.24m

Date	17 Mar 2022
Time	10:57:29
Category	Director/PDMR dealings
ID	1337F

TIDM	VEL
Share Price	16.90p-5.56%
Market Cap	£9.24m

Date	17 Mar 2022
Time	10:57:29
Category	Director/PDMR dealings
ID	1337F

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Grant of Share Options