Member Info for jim89

Agree, a slightly odd move from Bridges. He would have known that selling a mere 150k of his over 5M holding would affect the share price. It makes very little sense to me why you would do that as the CEO, when the share itself needs some positive news to stabilise. Maybe there is more behind this, but who knows as us shareholders are kept very much in the dark here by the board. Still holding and will continue to hold long term but frustrated... waiting patiently for this '£250M+ pipeline' to be realised

Also thanks for sharing your letter and response 👍

Interesting response... not really sure what to make of it and don't want to read too much into it.

I set a telegram group up for Velocity back in December (completely forgot about this). If anyone on here fancies joining then search for velocity composites on telegram and join. It might be easier to discuss the share in greater detail on there 👍

Hi Gillingham,

I tend to agree with your sentiment here. I must admit I read the RNS this morning over a coffee and facepalmed. My first thought was 'over promising and under delivering' I.e. empty promisses from the leadership team specifically Andy Beadon.

However, let's look at the positives, this is a long term hold, we all know that. The company is recovering from Covid and is still forecasting a c.40% increase in revenue from 2023. The drop this morning is certainly an opportunity in my eyes but frustrating when I'm in very deep here.

On the flip side, keeping shareholders informed needs to be improved by the company or people will become frustrated over time. More regular updates are required to under pin any share price rises. We need to be knowing about contract extensions, accreditations, new business when they happen, not all popped into a single RNS mixed with less positive news once a quarter. I feel this does need to be brought up with the leadership team by us shareholders at the next presentation/event.

Some nice little buys going through today with a bit more volume. Hopefully this is the start of the push upwards

I do agree an update would be nice, however, I am quite comfortable here as things seem to be nice and steady, a firm base being established at this level. I do feel that a major update on new contracts or contract extensions will take us above the c.65p we saw in January 2023 and then results in January 2025 showing a profitable company will take us above £1 next year.

There is obviously a lot of work going on in the background, I've just found this article posted a day ago:

https://www.compositesworld.com/news/velocity-composites-receives-nadcap-accreditation-for-us-facility

I know the feeling! Thankfully I only have a small portfolio but this by far my biggest holding, so I do try to listen to all presentations and write notes.

I also seem to remember they mentioned about additional machines being procured. I believe in the last presentation they made a sweeping comment about just having purchased their third or fourth machine for the US site (someone please correct me if I'm wrong). However, this would explain the ramp up and requirement for additional labour and shift work.

I do feel that we are on the cusp of something here though, as you stated we are through the tricky period and it is looking like the ramp up is well underway. Making a profit this year will be huge for the company, all the signs look good for H2, with results in January showing a small profit being made.

Regarding the shifts, I seem to remember they mentioned this in the last investor presentation. I also seem to remember they mentioned about once ramped up they could put a third shift on also.

Very quiet here, expecting an update imminently on existing contract extensions, new contracts, strategy etc.

I don't think you are reading too much into this, however, it is a shame that us shareholders have to guess what is going on...

Couple of nice LinkedIn posts in the last couple of days regarding contracts placed with major material suppliers at the Farnborough air show. Future looks very bright here... another decent contract win and this is up to £1

There was also a mello presentation last night, I didn't attend but maybe some potential investors got a wink and a nod? Did anyone attend on this board?

Buys from yesterday now showing

Now uploaded to website

Did anyone attend this event? Last year the company issued their presentation on their website shortly after the Mello event. Has anyone seen this yet?

Yes I believe so. I have not read the research note myself however another poster confirmed this. You seem to have to pay a monthly fee to read the research notes, which is very frustrating!

Copied from another board...

Cash. Brokers are projecting £2m ye net cash and October 25 ye net cash £3.3m. So cash should not be a worry

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

Now that is a vote of confidence if I ever saw one!! 4.25M shares...

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

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.

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).