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VEL are participating in the Mello event next week. The share price had done very well recently. Hopefully there will be some news on Monday or Tuesday prior to the Mello event and based on the recent share price it will be positive news. Then we will hear more at the event or the video recording of it afterwards. Fingers crossed.
I was hoping for news at the end of 2023 now nearly at the end of H1 2024......Whats happening?
Yep. Correction, had two months to get the form right, all amongst a barren desert of news flow.
Slight reduction, he's still holding with patience.
New RNS shows that he has actually reduced his holdings slightly... bit of a boo boo.
Anyway, good positive price action recently, let's hope it continues
I was curious as to the recent SP increase.............however Banks bought his shares in March, so unrelated.
Now that is a vote of confidence if I ever saw one!! 4.25M shares...
An ex-director of the company, left in 2017. Just bought a lot of shares, all openly from his sole trader address.
From no significant holding (
Velocity Composites will be at Mello2024 on Wednesday 22nd and Thursday 23rd May 2024, 9am-6pm at the Clayton Hotel & Conference Centre in Chiswick, London. The annual flagship in-person investor event will feature over 40 companies and keynote speakers such as Lord Lee; Christopher Mills; Georgina Brittain; Gervais Williams; Ed Croft; and many more! If you are new to Mello, you can get a ticket for just £30! Use code NEW2MELLO24
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Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced composite material kits to the aerospace market, is pleased to announce the appointment of Canaccord Genuity Limited as Nominated Adviser and Joint Corporate Broker, to work alongside Dowgate Capital, with immediate effect.
Both are mine
Any news would be welcome
Keep the faith people. 1H update (to 30th April) when it issues mid to end of May should be inline. My industry contacts tell me UK business could also soon renew a lot of its existing UK contracts, which taken with the fresh US ones, should give them a very high visible revenue stream into 2H, 2025 and more.
I am not bothered about new contracts at the moment: H1 was/is going to be tight for cash flow, given the purchases it does indicate that the Chairman thinks that they should manage it without need raise any more funds thus assuaging my main concern.
Not necessarily, plenty of shares around where directors have purchased and news has been released soon after. Check out Intercede (IGP) RNS's from November '23
OK so no news soon then if a director just been aloud to purchase a few shares
News flow is very thin here agreed, but why not wait until end of May, last years trading update was 24th May, so there should be one due around that time.
I must admit I'm loosing confidence in stock. The entire industry is booming, including competitors, as yet this share is somehow not moving as all.
There nothing concrete the management have presented to reassure the investors, no new contracts so far, no info about upside in production.
Its all smoke and speculation so far. I'm holing my share until the end of April, unless the management gets the grip of the situation and can show something more robust.
It might not be a total coincident that the share price is not following the industry trends. There no fire without smoke
Gavster, good point and you could read a lot into the issues with Boeing, Spirit and the 737 max.
My take on it is that it was Spirit who Velocity were in 'advanced discussion' with last summer regarding a new contract (all presentations pointed to a $100M opportunity with Spirit). Maybe these discussions have now been put on hold given the issues/audits ongoing with Spirit, Boeing and the 737... who knows. Also articles pointing to Boeing buying Spirit back may hamper any new contracts being placed.
It would be interesting to know what parts Velocity were manufacturing for the 737 max through Spirit, does anyone have any info on this?
If these drop below 30p and with the new ISA allowance around the corner, I think I will be averaging down significantly here. We could really do with a positive update from the company soon.
Can we assume the SP is suffering due to the problems at Boeing ?
Specifically the 737. Anyone close to the industry know if the problems are being address, so the sentiment can return.
https://www.wsj.com/business/airlines/disarray-boeing-factory-door-plug-blowout-f063e27e
https://www.sharecast.com/news/aim-bulletin/boeing-approves-velocity-composites-to-supply-737-max-programme--7249124.html
Jim89
Good post and love the idea of £1 plus
There will be a lot going on in the background, I have no doubt about that. However, as we have discussed previously they really need to get the large $100M contract up and running smoothly first before taking on another. The company need to time it correctly and ensure that they have everything in place so that they can hit the agreed milestone dates and not have to disappoint the market (regular news flow is good but it must be positive). This means increasing resource, training, plant and machinery, general infrastructure etc. Patience is all that is required here, I understand its not nice to see the price down at these levels, however, if the company play this right, start making profit this year, get the GKN contract running well/hitting milestones and then announce another large contract, I see the share price this time next year being up into the £1-£1.50 range (in my opinion).
I was hoping for new in Q4 2023......Nearly at the end of Q1 2024 any thought as to what is going on?
Ive just bought a few more. Sadly I can go to the AGM tomorrow is anyone going?
Nice update as many have suggested.
I have had VEL on my watchlist for sometime and not yet taken the plunge, perhaps now is the time to do so, however the buy / sell price spread is crazy and significantly putting me off, and I do feel that VEL still have some way to go to deliver on the forecasts they have given, hence I feel the share price will remain flat in the short term.
As an investor in SCE I am in total agreement with you on that! It was in my mind when I was writing the comment.....