Velocity Composites PLC PDMR Shareholding (3206U)

TIDMVEL

RNS Number : 3206U

Velocity Composites PLC

27 March 2023

Velocity Composites plc

("Velocity" or the "Company")

PDMR Shareholding

Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced composite material kits to the aerospace market, announces that on 23 March 2023, James Eastbury, a PDMR of the Company sold 80,000 ordinary shares of 0.25 pence each ("Ordinary Shares") at a price of 33.15 pence per Ordinary Share. The sale was primarily to fund the income tax associated with the option exercise announced on 6 March 2023. The share options had originally been granted as part of the salary sacrifice arrangements which were a result of the cost reduction programme announced on 17 December 2020.

Following this transaction, James Eastbury beneficially holds 75,932 Ordinary Shares representing 0.21 per cent. of the Company's issued share capital.

Enquiries:

 
 Velocity Composites plc 
  Andy Beaden, Chairman 
  Jon Bridges, Chief Executive Officer          +44 (0) 1 282 577577 
 
   Cenkos Securities plc 
   Nominated Adviser and Broker 
   Katy Birkin 
   Ben Jeynes 
   George Lawson                                +44 (0) 20 7397 4000 
 SEC Newgate                                     +44 (0)7540 106 366 
  Financial PR                             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                                        James Eastbury 
      ------------------------------------------  --------------------------------- 
 2     Reason for the notification 
      ----------------------------------------------------------------------------- 
 a)    Position/status                             PDMR 
      ------------------------------------------  --------------------------------- 
 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                   Sale of Ordinary Shares 
      ------------------------------------------  --------------------------------- 
 c)    Price(s) and volumes(s)                        Price(s)         Volume(s) 
      ------------------------------------------  ----------------  --------------- 
                                                         GBP0.3315           80,000 
  ----------------------------------------------------------------  --------------- 
 d)    Aggregated information                      N/A single transaction 
      ------------------------------------------  --------------------------------- 
  Aggregated volume                           N/A single transaction 
 ------------------------------------------  -------------------------------------- 
  Price                                       N/A single transaction 
 ------------------------------------------  -------------------------------------- 
 e)    Date of the transaction                     23 March 2023 
      ------------------------------------------  --------------------------------- 
 f)    Place of the transaction                    XOFF 
      ------------------------------------------  ---------------------------------

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END

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March 27, 2023 05:20 ET (09:20 GMT)

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