Velocity Composites PLC Appointment of Independent Non-Executive Director (5970W)
August 02 2018 - 2:02AM
UK Regulatory
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
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END
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