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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Velocity Composites Plc | LSE:VEL | London | Ordinary Share | GB00BF339H01 | ORD 0.25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 40.00 | 39.00 | 41.00 | 40.00 | 40.00 | 40.00 | 0.00 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Aircraft Parts, Aux Eq, Nec | 16.41M | -3.14M | -0.0588 | -6.80 | 21.39M |
TIDMVEL
RNS Number : 6784A
Velocity Composites PLC
24 January 2024
24 January 2024
Velocity Composites plc
("Velocity" or the "Company")
Grant of Share Options to Directors/PDMRs, Issue of Equity and TVR
Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced composite material kits to the aerospace market, announces that on 23 January 2024, the Board granted a total of 357,134 share options over Velocity ordinary shares of 0.25p each (the "Share Options") to certain Directors and PDMRs of the Company.
282,134 Share Options awarded are in relation to cash salary / fees sacrifice arrangements for the year to 30 October 2024, as a result of the cost reduction programme announced on 17 December 2020.
The Share Options have been granted as follows:
Total new Share Options Existing Cash Salary Other Share as % of Options / Fee Sacrifice Options issued share Shareholding held Options granted granted capital Andy Beaden (Non-executive 162,635 Chairman) 568,475 (1) 86,400 (1) - 0.16% Annette Rothwell (Non-executive Director) - 58,807 (1) 37,867 (1) - 0.07% David Bailey (Non-executive Director) - 37,867 37,867 (1) - 0.07% Matthew Archer 709,167 (PDMR) - (2) 120,000 (2) - 0.22% Kevin Hickey (PDMR) - - - 75,000(2 0.14% (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 are exercisable at an exercise price of 0.25p. The Share Options relating to cash salary / fee salary sacrifice arrangements will become exercisable on 1 November 2024, whilst the Share Options relating to Kevin Hickey will vest after 31 October 2025.
In addition, the Company announces that on 23 January 2024, 75,000 options over Ordinary Shares were exercised by a former employee at a price of 35.5p. Application has been made for 75,000 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur on 29 January 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 53,468,368 Ordinary Shares in issue. No Ordinary Shares are held in treasury. The figure of 53,468,368 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.
Following the above grants and exercise of options, the Company has a total of 1,854,365 Ordinary Shares currently under option, representing approximately 3.47% per cent of the Company's issued share capital.
Enquiries:
Velocity Composites plc Andy Beaden, Chairman Jon Bridges, Chief Executive Officer Andrew Hebb, Interim Chief Financial Officer +44 (0) 1 282 577577 Cavendish Capital Markets Limited Nominated Adviser and Broker Katy Birkin Ben Jeynes George Lawson +44 (0) 20 7220 0500 SEC Newgate +44 (0)7540 106 366 Financial Communications velocity@secnewgate.co.uk Robin Tozer George Esmond Harry Handyside
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 Ordinary shares of 0.25p each instrument, type of instrument ----------------------------------- --------------------------------- 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) ----------------------------------- --------- ---------------------- 0.25p 86,400 ---------------------------------------- --------- ---------------------- d) Aggregated information N/A single transaction ----------------------------------- --------------------------------- Aggregated volume N/A single transaction ---------------------------------------- --------------------------------- Price N/A single transaction ---------------------------------------- --------------------------------- e) Date of the transaction 23 January 2024 ----------------------------------- --------------------------------- f) Place of the transaction XOFF ----------------------------------- --------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Annette Rothwell ------------------------------------------ --------------------------------- 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 Ordinary shares of 0.25p each instrument, type of instrument ------------------------------------------ --------------------------------- 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) ------------------------------------------ ---------------- --------------- 0.25p 37,867 ----------------------------------------------- ---------------- --------------- d) Aggregated information N/A single transaction ------------------------------------------ --------------------------------- Aggregated volume N/A single transaction ----------------------------------------------- --------------------------------- Price N/A single transaction ----------------------------------------------- --------------------------------- e) Date of the transaction 23 January 2024
------------------------------------------ --------------------------------- f) Place of the transaction XOFF ------------------------------------------ --------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name David Bailey ------------------------------------------ --------------------------------- 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 Ordinary shares of 0.25p each instrument, type of instrument ------------------------------------------ --------------------------------- 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) ------------------------------------------ ---------------- --------------- 0.25p 37,867 ----------------------------------------------- ---------------- --------------- d) Aggregated information N/A single transaction ------------------------------------------ --------------------------------- Aggregated volume N/A single transaction ----------------------------------------------- --------------------------------- Price N/A single transaction ----------------------------------------------- --------------------------------- e) Date of the transaction 23 January 2024 ------------------------------------------ --------------------------------- 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/Chief Commercial & Compliance 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 Ordinary shares of 0.25p each instrument, type of instrument ------------------------------------------ ------------------------------------- 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) ------------------------------------------ ------------------ ----------------- 0.25p 120,000 ----------------------------------------------- ------------------ ----------------- d) Aggregated information N/A single transaction ------------------------------------------ ------------------------------------- Aggregated volume N/A single transaction ----------------------------------------------- ------------------------------------- Price N/A single transaction ----------------------------------------------- ------------------------------------- e) Date of the transaction 23 January 2024 ------------------------------------------ ------------------------------------- f) Place of the transaction XOFF ------------------------------------------ ------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Kevin Hickey ------------------------------------------ --------------------------------- 2 Reason for the notification ----------------------------------------------------------------------------- a) Position/status PDMR/Chief Operating 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 Ordinary shares of 0.25p each instrument, type of instrument ------------------------------------------ --------------------------------- 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) ------------------------------------------ ---------------- --------------- 0.25p 75,000 ----------------------------------------------- ---------------- --------------- d) Aggregated information N/A single transaction ------------------------------------------ --------------------------------- Aggregated volume N/A single transaction ----------------------------------------------- --------------------------------- Price N/A single transaction ----------------------------------------------- --------------------------------- e) Date of the transaction 23 January 2024 ------------------------------------------ --------------------------------- f) Place of the transaction XOFF ------------------------------------------ ---------------------------------
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(END) Dow Jones Newswires
January 24, 2024 02:00 ET (07:00 GMT)
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