Velocity Composites PLC Grant of Share Options to Directors/PDMRs (6652U)
March 29 2023 - 10:30AM
UK Regulatory
TIDMVEL
RNS Number : 6652U
Velocity Composites PLC
29 March 2023
29 March 2023
Velocity Composites plc
("Velocity" or the "Company")
Grant of Share Options to Directors/PDMRs
Velocity Composites plc (AIM: VEL.L), the leading supplier of
advanced composite material kits to the aerospace market, announces
that on 28 March 2023, the Board granted a total of 807,200 share
options over Velocity ordinary shares of 0.25p each (the "Share
Options") to certain directors and PDMRs of the Company.
A portion of the Share Options awarded are in relation to cash
salary / fees sacrifice arrangements for the year to 30 October
2023, as a result of the cost reduction programme announced on 17
December 2020. The remaining Share Options that have been granted
are performance related and are subject to meeting specific targets
that have been set by the Board.
The Share Options have been granted as follows:
Total New
Performance Share Options
Existing Cash Salary Related as % of
Options / Fee Sacrifice Options issued share
Shareholding Held Options Granted Granted capital
Andy Beaden
(Non-executive
Chairman) 568,475 76,235 (1) 86,400 (1) - 0.23%
Adam Holden
(Finance Director) - - 107,733 (2) - 0.29%
Annette Rothwell
(Non-Executive
Director) - 20,940 (1) 37,867 (1) - 0.10%
David Bailey
(Non-Executive
Director) - - 37,867 (1) - 0.10%
James Eastbury 228,529 150,000
(PDMR) 75,932 (2) 117,333 (2) (2) 0.72%
Matthew Archer 589,167
(PDMR) - (2) 120,000 (2) - 0.33%
Jeffrey Armitage 150,000
(PDMR) - - - (2) 0.41%
(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 2023,
whilst the performance related awards will become exercisable when
the Board determines the specific targets have been met.
Following the above grants, the Company has a total of 2,284,964
Ordinary Shares currently under option, representing approximately
6.19 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 8900
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 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 28 March 2023
------------------------------------------ ---------------------------------
f) Place of the transaction XOFF
------------------------------------------ ---------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Adam Holden
------------------------------------------ ---------------------------------
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)
------------------------------------------ ---------------- ---------------
0.25p 107,733
----------------------------------------------- ---------------- ---------------
d) Aggregated information N/A single transaction
------------------------------------------ ---------------------------------
Aggregated volume N/A single transaction
----------------------------------------------- ---------------------------------
Price N/A single transaction
----------------------------------------------- ---------------------------------
e) Date of the transaction 28 March 2023
------------------------------------------ ---------------------------------
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 28 March 2023
------------------------------------------ ---------------------------------
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 28 March 2023
------------------------------------------ ---------------------------------
f) Place of the transaction XOFF
------------------------------------------ ---------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name James Eastbury
------------------------------------------ ------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------
a) Position/status PDMR/Customer Programmes 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 267,333
----------------------------------------------- ----------------- -----------------
d) Aggregated information N/A single transaction
------------------------------------------ ------------------------------------
Aggregated volume N/A single transaction
----------------------------------------------- ------------------------------------
Price N/A single transaction
----------------------------------------------- ------------------------------------
e) Date of the transaction 28 March 2023
------------------------------------------ ------------------------------------
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/Commercial and Supply
Chain 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 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 28 March 2023
------------------------------------------ ---------------------------------
f) Place of the transaction XOFF
------------------------------------------ ---------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jeffrey Armitage
------------------------------------------ ------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------
a) Position/status PDMR/Strategic Operation 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 150,000
----------------------------------------------- ----------------- -----------------
d) Aggregated information N/A single transaction
------------------------------------------ ------------------------------------
Aggregated volume N/A single transaction
----------------------------------------------- ------------------------------------
Price N/A single transaction
----------------------------------------------- ------------------------------------
e) Date of the transaction 28 March 2023
------------------------------------------ ------------------------------------
f) Place of the transaction XOFF
------------------------------------------ ------------------------------------
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHJLMITMTTTBLJ
(END) Dow Jones Newswires
March 29, 2023 10:30 ET (14:30 GMT)
Velocity Composites (LSE:VEL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Velocity Composites (LSE:VEL)
Historical Stock Chart
From Jul 2023 to Jul 2024
