Last checked at 25 Jan 2018 07:00
25 January 2018
VELOCITY COMPOSITES plc
("Velocity" or the "Company")
Director Dealing
Velocity Composites plc, the leading supplier of advanced composite material kits, providing engineering value-solutions for the global aerospace industry, announces that it has been notified that on 24 January 2018, Mark Mills, Non-Executive Chairman of the Company, purchased 50,000 ordinary shares of 0.25 pence each ("Ordinary Shares") at a price of 95 pence per Ordinary Share (the "Purchase").
Following the Purchase, Mr. Mills has a beneficial interest in 1,934,024 Ordinary Shares representing approximately 5.40% of the issued share capital of the Company.
Ends
CONTACT DETAILS:
Velocity Jon Bridges, CEO Alan Kershaw, CFO | c/o Camarco Tel: 020 3757 4980 |
finnCap (Nominated Adviser and Broker) Adrian Hargrave / Scott Mathieson / Kate Bannatyne (Corporate Finance) Tim Redfern / Sultan Awan (Corporate Broking) | Tel: 020 7220 0500 |
Camarco (Financial PR) Georgia Edmonds / James Crothers |
Tel: 020 3757 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.
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 | Mark Mills
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2. | Reason for the Notification
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a) | Position/status | Non-Executive Chairman
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b) | Initial notification/Amendment | Initial notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a) | Name | Velocity Composites plc
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b) | LEI | 213800W4W46J8HGZP672
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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
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a) | Description of the Financial instrument, type of instrument | Ordinary shares of 0.25 pence each ("Ordinary Shares") |
Identification code | VEL GB00BF339H01
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b) | Nature of the transaction | Purchase of Ordinary Shares
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c) | Price(s) and volume(s) | Volume - 50,000 ordinary shares Price - 95 pence
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d) | Aggregated information: Aggregated volume Price |
See 4c) above
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e) | Date of the transaction | 24 January 2018
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f) | Place of the transaction | London Stock Exchange, AIM Market (XLON)
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