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Velocity Composites plc announced that a total of 483,660 options over ordinary shares of 0.25 pence each were exercised on 18 December 2024 at 0.25p. This included PDMRs Andy Beaden, Annette Rothwell, and David Bailey exercising 249,035, 96,674, and 75,734 options respectively, with Annette Rothwell and David Bailey disposing of 18,127 and 23,421 shares at 25.5p on 20 December 2024 to cover tax liabilities. Application has been made for the 483,660 new Ordinary Shares to be admitted to AIM on 24 December 2024, resulting in a total of 53,993,366 Ordinary Shares in issue.
| Date | 20 Dec 2024 |
| Time | 15:26:38 |
| Category | Capital structure |
| ID | 9959Q |
20 December 2024
Velocity Composites plc
("Velocity", the "Company", the "Group")
Exercise of Share Options and Issue of Equity
Velocity Composites plc (AIM: VEL), the leading supplier of composite material kits to aerospace, has been notified that, on 18 December 2024, a total of 483,660 options over Velocity ordinary shares of 0.25 pence each ("Ordinary Shares") were exercised at a price of 0.25p (the "Option Exercises"). Following the exercises, sufficient Ordinary Shares were sold to cover the tax liabilities ("Disposals)".
The Option Exercises and Disposals include the following dealings by PDMRs:
|
PDMR |
Number of Options |
Disposals |
Number of Ordinary Shares held following Option Exercise and Disposal |
Percentage of issued share capital following Admission |
|
Andy Beaden |
249,035 |
Nil |
930,010 |
1.72% |
|
Annette Rothwell |
96,674 |
18,127 |
78,547 |
0.15% |
|
David Bailey |
75,734 |
23,421 |
52,313 |
0.10% |
Application has been made for 483,660 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur on 24 December 2024 and the Ordinary Shares will, on issue, rank pari passu in all respects with the Company's existing Ordinary Shares.
On Admission, the Company will have a total of 53,993,366 Ordinary Shares in issue. No Ordinary Shares are held in treasury. The figure of 53,993,366 may be used by the Company's shareholders as the denominator in the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure, Guidance and Transparency Rules.
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 |
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 |
Andy Beaden |
||||||
|
2 |
Reason for the notification |
|||||||
|
a) |
Position/status |
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 0.25 pence each |
||||||
|
|
Identification code |
GB00BF339H01 |
||||||
|
b) |
Nature of the transaction |
Exercise of share options over ordinary shares of 0.25p each AND disposal of sufficient shares to discharge tax liability upon exercise |
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|
c) |
Price(s) and volumes(s) |
|
||||||
|
d) |
Aggregated information |
N/A single transaction |
||||||
|
|
Aggregated volume |
N/A single transaction |
||||||
|
|
Aggregated Price |
N/A single transaction |
||||||
|
e) |
Date of the transaction |
Option Exercise: 18 December 2024 |
||||||
|
f) |
Place of the transaction |
Option Exercise: XOFF |
||||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||||||||||
|
a) |
Name |
Annette Rothwell |
|||||||||
|
2 |
Reason for the notification |
||||||||||
|
a) |
Position/status |
NED |
|||||||||
|
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 0.25 pence each |
|||||||||
|
|
Identification code |
GB00BF339H01 |
|||||||||
|
b) |
Nature of the transaction |
Exercise of share options over ordinary shares of 0.25p each AND disposal of sufficient shares to discharge tax liability upon exercise |
|||||||||
|
c) |
Price(s) and volumes(s) |
|
|||||||||
|
d) |
Aggregated information |
N/A single transaction |
|||||||||
|
|
Aggregated volume |
N/A single transaction |
|||||||||
|
|
Aggregated Price |
N/A single transaction |
|||||||||
|
e) |
Date of the transaction |
Option Exercise: 18 December 2024 Disposal: 20 December 2024 |
|||||||||
|
f) |
Place of the transaction |
Option Exercise: XOFF Disposal: AIM |
|||||||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
||||||||||
|
a) |
Name |
David Bailey |
|||||||||
|
2 |
Reason for the notification |
||||||||||
|
a) |
Position/status |
NED |
|||||||||
|
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 0.25 pence each |
|||||||||
|
|
Identification code |
GB00BF339H01 |
|||||||||
|
b) |
Nature of the transaction |
Exercise of share options over ordinary shares of 0.25p each AND disposal of sufficient shares to discharge tax liability upon exercise |
|||||||||
|
c) |
Price(s) and volumes(s) |
|
|||||||||
|
d) |
Aggregated information |
N/A single transaction |
|||||||||
|
|
Aggregated volume |
N/A single transaction |
|||||||||
|
|
Aggregated Price |
N/A single transaction |
|||||||||
|
e) |
Date of the transaction |
Option Exercise: 18 December 2024 Disposal: 20 December 2024 |
|||||||||
|
f) |
Place of the transaction |
Option Exercise: XOFF Disposal: AIM |
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