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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 2.17% 23.50 22.00 25.00 23.50 23.00 23.00 45,660 14:00:26
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Aerospace & Defence 13.6 -3.2 -8.0 - 9

Velocity Composites PLC Director/PDMR Shareholding

10/02/2021 5:56pm

UK Regulatory (RNS & others)


Velocity Composites (LSE:VEL)
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From Dec 2020 to Jun 2021

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TIDMVEL

RNS Number : 6866O

Velocity Composites PLC

10 February 2021

10 February 2021

Velocity Composites plc

("Velocity" or the "Company")

Grant of Share Options to Directors

Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced composite material kits to the aerospace market, announced on 17 November 2020 that as part of the cost reduction programme undertaken by the Company the directors and certain senior executives had agreed to a deferment of 20% of their salaries for which they will receive shares in the Company in lieu of cash, through an issue of share options of a similar value.

Due to an oversight at the Company these options which were awarded on 30 October 2020 but no announcement was made at the time.

A total of 615,065 share options (the "Share Options") over Velocity ordinary shares of 0.25p each ("Ordinary Shares") have been awarded, including 303,201 Share Options to the following directors.

 
                                                                        Total New 
                              % of Existing                         Share Options 
                   Number of          Share  Existing   New Share         as % of 
                    Ordinary        Capital   Options     Options          Issued 
                 Shares Held           Held      Held     Granted   Share Capital 
Christopher 
 Williams                  -              -         -  147,268(1)           0.41% 
Andrew Beaden        400,000           1.10         -  108,475(2)           0.30% 
Margret Amos               -              -         -   47,458(2)           0.13% 
 
   (1)   Options awarded under the Company's EMI scheme 
   (2)   Options awarded under Unapproved Option Scheme 

In summary the terms of the Share Options are:

   --    The Shares Options will be exercisable at a price of 0.25 pence per share; 

-- The Share Options, which are subject to malice and clawback restrictions, will vest on 30 October 2021 and may be exercised at any time thereafter.

Following the above grants, the Company has a total of 1,681,346 Ordinary Shares currently under option, representing approximately 4.64 per cent of the Company's issued share capital.

Enquiries:

 
 Velocity Composites plc 
  Andy Beaden, Chairman 
  Jon Bridges, Chief Executive Officer     +44 (0) 1282 577577 
 Cenkos Securities plc 
  Nominated Adviser and Broker 
  Russell Cook 
  Ben Jeynes                              +44 (0) 20 7397 4000 
 

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                                      Christopher Williams 
      ----------------------------------------  ---------------------------------- 
 2     Reason for the notification 
      ---------------------------------------------------------------------------- 
 a)    Position/status                           Finance 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) 
      ----------------------------------------  ------------------  -------------- 
                                                         GBP0.0025         147,268 
  ----------------------------------------------------------------  -------------- 
 d)    Aggregated information                    N/A single transaction 
      ----------------------------------------  ---------------------------------- 
  Aggregated volume                         N/A single transaction 
 ----------------------------------------  --------------------------------------- 
  Price                                     N/A single transaction 
 ----------------------------------------  --------------------------------------- 
 e)    Date of the transaction                   30 October 2020 
      ----------------------------------------  ---------------------------------- 
 f)    Place of the transaction                  XOFF 
      ----------------------------------------  ---------------------------------- 
 
 
 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) 
      ----------------------------------------  ------------------  -------------- 
                                                         GBP0.0025         108,475 
  ----------------------------------------------------------------  -------------- 
 d)    Aggregated information                    N/A single transaction 
      ----------------------------------------  ---------------------------------- 
  Aggregated volume                         N/A single transaction 
 ----------------------------------------  --------------------------------------- 
  Price                                     N/A single transaction 
 ----------------------------------------  --------------------------------------- 
 e)    Date of the transaction                   30 October 2020 
      ----------------------------------------  ---------------------------------- 
 f)    Place of the transaction                  XOFF 
      ----------------------------------------  ---------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                      Margaret Amos 
      ----------------------------------------  ---------------------------------- 
 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) 
      ----------------------------------------  ------------------  -------------- 
                                                         GBP0.0025          47,458 
  ----------------------------------------------------------------  -------------- 
 d)    Aggregated information                    N/A single transaction 
      ----------------------------------------  ---------------------------------- 
  Aggregated volume                         N/A single transaction 
 ----------------------------------------  --------------------------------------- 
  Price                                     N/A single transaction 
 ----------------------------------------  --------------------------------------- 
 e)    Date of the transaction                   30 October 2020 
      ----------------------------------------  ---------------------------------- 
 f)    Place of the transaction                  XOFF 
      ----------------------------------------  ---------------------------------- 
 

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END

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February 10, 2021 12:56 ET (17:56 GMT)

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