Velocity Composites PLC Director Dealing (4300V)

TIDMVEL

RNS Number : 4300V

Velocity Composites PLC

02 November 2017

2 November 2017 For immediate release

VELOCITY COMPOSITES plc

("Velocity" or the "Company")

Director Dealing

Velocity Composites plc, the leading supplier of advanced composite material kits, providing engineering value-solutions for the global aerospace industry, announces that it has been notified that today, Peter Turner, Non-Executive Director of the Company, purchased 55,555 ordinary shares of 0.25 pence each ("Ordinary Shares") at a price of 90 pence per Ordinary Share (the "Purchase").

Following the Purchase, Mr. Turner, together with his wife, has a beneficial interest in 55,555 Ordinary Shares representing approximately 0.16% of the issued share capital of the Company.

Ends

CONTACT DETAILS:

 
 Velocity                                   c/o Camarco 
  Jon Bridges, CEO                           Tel: 020 
  Alan Kershaw, CFO                          3757 4980 
                                            Tel: 020 
   finnCap (Nominated Adviser and Broker)    7220 0500 
   Adrian Hargrave / Scott Mathieson 
   / Kate Bannatyne (Corporate Finance) 
   Tim Redfern / Sultan Awan (Corporate 
   Broking) 
 
   Camarco (Financial PR)                     Tel: 020 
   Georgia Edmonds / James Crothers           3757 4980 
 

About Velocity Composites

Velocity Composites is a manufacturer of composite material kits for the aerospace industry, delivering engineered kits for its customers to build component parts. The Company's clients include multi-national manufacturers of composite parts and assemblies, who in turn deliver to the world's leading civil and military aircraft manufacturers. The Airbus A330, A350, A380, Eurofighter Typhoon, F35 Joint Strike Fighter and Bell Boeing V22 Osprey are all constructed using parts manufactured from Velocity's kits. The Company's business model reduces the operating costs of preparing composite materials ahead of their usage in the construction of an aircraft part and as such, its offering is disposed to being self-financing for aircraft parts' manufacturers. Velocity Composites also exports to Denmark, France, and Belgium.

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                             Peter Turner 
---  -------------------------------  -------------------------------- 
 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                   Ordinary shares of 0.25 
       the Financial                    pence each ("Ordinary Shares") 
       instrument, type 
       of instrument 
--- 
      Identification                   VEL GB00BF339H01 
       code 
---  -------------------------------  -------------------------------- 
 b)   Nature of the                    Purchase of Ordinary Shares 
       transaction 
---  -------------------------------  -------------------------------- 
 c)   Price(s) and volume(s)           Volume - 55,555 
                                        Price - 90p 
---  -------------------------------  -------------------------------- 
 d)   Aggregated information: 
       Aggregated volume                 See 4c) above 
       Price 
---  -------------------------------  -------------------------------- 
 e)   Date of the transaction          2 November 2017 
---  -------------------------------  -------------------------------- 
 f)   Place of the transaction         London Stock Exchange, 
                                        AIM Market (XLON) 
---  -------------------------------  -------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 02, 2017 10:00 ET (14:00 GMT)