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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.50 | 1.54% | 33.00 | 32.00 | 34.00 | 33.00 | 32.50 | 32.50 | 97,713 | 08:40:48 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Aircraft Parts, Aux Eq, Nec | 16.41M | -3.14M | -0.0588 | -5.61 | 17.64M |
TIDMVEL
RNS Number : 5970W
Velocity Composites PLC
02 August 2018
02 August 2018
VELOCITY COMPOSITES plc
("Velocity" or the "Company")
Appointment of Independent Non-Executive Director
Velocity Composites plc, the leading supplier of advanced composite material kits, providing engineering value-solutions for the global aerospace industry, is pleased to announce the appointment of Brian Tenner, ACA as an Independent Non-Executive Director effective immediately. Further to the announcement on 27 February 2018, the Company also announces the retirement of Peter Turner from the Board effective today.
Brian Tenner is a highly experienced commercial, operational and financial professional with over 25 years industry experience. Most recently Brian was CFO of the Main Market listed NCC Group Plc. Prior to that he was Group Finance Director at Renold plc from 2010 - 2016, Scapa Group plc from 2007 - 2010 and BNFL plc from 2003 - 2007. Brian started his career at PwC in Audit and Business Advisory Services.
Brian holds a LLB (Hons) degree in Law from Edinburgh University, is a Chartered Accountant and completed an Advanced Management Programme at INSEAD in 2006.
It is intended that Brian Tenner will chair the Audit Committee and be a member of the Remuneration Committee.
The appointment follows the announcement made on 27 February 2018 that the Board was seeking to appoint two new non-executives; one with an audit and finance background alongside another one with manufacturing and public company experience. It is expected that a further independent non-executive Director appointment will be made in the near future.
Mark Mills, Non-Executive Chairman of Velocity said:
"On behalf of the Board I am delighted to welcome Brian as a Non-Executive Director during an exciting stage of the Company's growth. Brian's extensive finance, PLC and operational experience will be of significant value as we focus on expanding our customer base in Europe and beyond.
I would also like to thank Peter for his contribution to the Company and wish him well in his retirement."
Ends
CONTACT DETAILS:
Velocity c/o Camarco Jon Bridges, CEO Tel: 020 3757 Alan Kershaw, CFO 4980 finnCap (Nominated Adviser and Broker) Tel: 020 7220 Ed Frisby / Scott Mathieson / Hannah Boros 0500 (Corporate Finance) Tim Redfern (ECM) Camarco (Financial PR) Tel: 020 3757 Georgia Edmonds / Owen Roberts / James Crothers 4980
About Velocity Composites
Velocity Composites is a manufacturer of advanced composite material kits for the aerospace industry, delivering engineered waste reduction solutions for its customers to build aircraft components using less time and material. The Company's customers 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 A320, A330, A350, A380, Eurofighter Typhoon, F35 Joint Strike Fighter and Boeing 737, 787 and 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's services are seeing increased demand as the global aircraft industry enters a more-for-less era. Velocity currently has customers in the UK and Continental Europe.
The following information is made in accordance with Schedule Two (g) of the AIM Rules for Companies:
Full Name: Brian Thomas Tenner Age: 50 Current Director positions Accumuli (holdings) Limited Accumuli Security Ash Limited Accumuli Security Services Limited Accumuli Security Systems Limited Accumuli Security Technology Limited Armstrongadams Limited Axzona Limited Boxing Orange MSS Limited Bury Cooper Whitehead Limited Eqalis Limited Fujin Technology Limited NCC Group (solutions) Limited NCC Group Accumuli Security Limited NCC Group Audit Limited NCC Group Escrow Limited NCC Group plc NCC Group Security Services Limited NCC Group Signify Solutions Limited NCC Services Limited Payment Software Company Limited Randomstorm Limited Previous Directorships in the last five years Anchor Chain and Power Transmission Company Limited Eggplant Live Limited Hans Renold Limited John Holroyd and Company Limited Jones & Shipman Limited Qualitest UK 4 Limited Renold Continental Limited Renold Europe Limited Renold Group General Partner Limited Renold International Holdings Limited Renold Power Transmission Limited Renold Public Limited Company Renold Transmission Limited
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
BOAUGUBCRUPRUAP
(END) Dow Jones Newswires
August 02, 2018 02:02 ET (06:02 GMT)
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