4 November 2024
Velocity Composites plc
("Velocity", the "Company", the "Group")
PDMR shareholding
Velocity Composites plc (AIM: VEL), the leading supplier of composite material kits to aerospace, has been notified that, on 1 November 2024, a person closely associated with Jon Bridges, Chief Executive Officer, sold 150,000 ordinary shares of 0.25 pence each ("Ordinary Shares") at a price of 25.0 pence per share, reducing his beneficial holding to 5,365,929 Ordinary Shares, representing 10.04% of the issued share capital in the Company. The Company notes that this is the first sale from Jon Bridges' beneficial holding since the Company listed in 2017.
The notifications below, made in accordance with the requirements of the UK Market Abuse Regulation, provide further details.
Enquiries:
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Velocity Composites plc Andy Beaden, Chairman Jon Bridges, Chief Executive Officer Rob Smith, Group Chief Financial Officer
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+44 (0) 1282 577577 |
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Canaccord Genuity Limited Nominated Adviser and Joint Broker Max Hartley George Grainger
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+44 (0) 20 7523 8000 |
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Dowgate Capital Limited Joint Broker Russell Cook Nick Chambers
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+44 (0) 20 3903 7715 |
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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
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
A Person Closely Associated with Jon Bridges |
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2 |
Reason for the notification |
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a) |
Position/status |
Chief Executive Officer |
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b) |
Initial notification/Amendment |
Initial Notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Velocity Composites plc |
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b) |
LEI |
213800W4W46J8HGZP672 |
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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 |
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a) |
Description of the financial instrument, type of instrument |
Ordinary Shares of 0.25 pence each |
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Identification code |
GB00BF339H01 |
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b) |
Nature of the transaction |
Sale of ordinary shares
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c) |
Price(s) and volumes(s) |
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d) |
Aggregated information |
N/A single transaction |
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Aggregated volume |
N/A single transaction |
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Aggregated Price |
N/A single transaction |
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e) |
Date of the transaction |
1 November 2024 |
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f) |
Place of the transaction |
London Stock Exchange, AIM |
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