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Pin to quick picksVelocity Comp Regulatory News (VEL)

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Results of REX Retail Offer & Total Voting Rights

14 Aug 2023 15:38

RNS Number : 2691J
Velocity Composites PLC
14 August 2023
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU)596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

 

14 August 2023

 

VELOCITY COMPOSITES PLC

("Velocity or the "Company")

 

Results of REX Retail Offer and Total Voting Rights

 

Further to the announcement on 9 August 2023, Velocity Composites plc (AIM: VEL), the leading supplier of composite material kits to aerospace and other high-performance manufacturers, is pleased to announce that following the closing of the REX Retail Offer, 497,583 Ordinary Shares will be issued at a price of 40 pence per Ordinary Share (the "Issue Price") to existing retail investors.

 

Consequently, 1,900,000 Firm Placing Shares, 1,100,000 Subscription Shares and 497,583 REX Retail Offer Shares will be issued resulting in a total of 3,497,583 new Ordinary Shares being issued in connection with the Firm Placing, Subscription and REX Retail Offer, raising total gross proceeds of approximately £1.40 million.

 

The Company has also conditionally raised £5 million (before expenses) through the issue of 12,500,000 EIS/VCT Placing Shares at the Issue Price. The EIS/VCT Placing is conditional, inter alia, upon Shareholder approval at the General Meeting on 29 August 2023.

 

The Company has the authority to issue and allot the Firm Placing Shares, the Subscription Shares and the Retail Offer Shares pursuant to certain existing shareholder authorities granting such powers to the Directors at the Company's Annual General Meeting held on 28 February 2023.

 

Application has been made to the London Stock Exchange for the admission of the Firm Placing Shares, the Subscription Shares and the Retail Offer Shares to trading on AIM. First Admission of the Firm Placing Shares, the Subscription Shares and the Retail Offer Shares to trading on AIM is expected to occur at 8.00 a.m. on 15 August 2023.

 

Following First Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 40,418,368 with each Ordinary Share carrying the right to one vote. There are no Ordinary Shares held in treasury and therefore the total number of voting rights in the Company is 40,418,368. The above figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure, Guidance and Transparency Rules.

 

Unless otherwise defined, capitalised terms within this announcement shall have the same meaning as those contained within the announcement dated 9 August 2023 under RNS number 7242I.

 

Enquiries:

 

Velocity

Andy Beaden, Chairman

Jon Bridges, Chief Executive Officer

Adam Holden, Chief Financial Officer

 

 

+44 (0) 1282 577577

 

Cenkos (Nominated Adviser and Broker)

Katy Birkin

Ben Jeynes

George Lawson

 

 

+44 (0)20 7397 8900

 

SEC Newgate (Financial PR)

Robin Tozer

George Esmond

Harry Handyside

 

 

+44 (0)7540 106 366

velocitycomposites@secnewgate.co.uk

 

 

 

This announcement should be read in its entirety. In particular, the information in the "Important Notices" section of the announcement should be read and understood.

 

Important Notices

 

The content of this announcement, which has been prepared by and is the sole responsibility of the Company.

 

This announcement and the information contained herein is not for release, publication or distribution, directly or indirectly, in whole or in part, in or into or from the United States (including its territories and possessions, any state of the United States and the District of Columbia (the "United States" or "US")), Australia, Canada, New Zealand, Japan, the Republic of South Africa, any member state of the EEA or any other jurisdiction where to do so might constitute a violation of the relevant laws or regulations of such jurisdiction.

 

The REX Retail Offer Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act") or under the applicable state securities laws of the United States and may not be offered or sold directly or indirectly in or into the United States. No public oering of the REX Retail Offer Shares is being made in the United States. The REX Retail Offer Shares are being oered and sold outside the United States in "oshore transactions", as dened in, and in compliance with, Regulation S under the US Securities Act. In addition, the Company has not been, and will not be, registered under the US Investment Company Act of 1940, as amended.

 

This announcement does not constitute an offer to sell or issue or a solicitation of an offer to buy or subscribe for REX Retail Offer Shares in the United States, Australia, Canada, New Zealand, Japan, the Republic of South Africa, any member state of the EEA or any other jurisdiction in which such offer or solicitation is or may be unlawful. No public offer of the securities referred to herein is being made in any such jurisdiction.

 

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the US Securities Act and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

 

The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

 

REX is a proprietary technology platform owned and operated by Peel Hunt LLP (registered address at 7th Floor, 100 Liverpool Street, London EC2M 2AT; FRN 530083). Peel Hunt LLP ("Peel Hunt") is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for the Company and for no-one else and will not regard any other person (whether or not a recipient of this announcement) as its client in relation to the REX Retail Offer and will not be responsible to anyone other than the Company for providing the protections afforded to its clients, nor for providing advice in connection with the REX Retail Offer, First Admission and the other arrangements referred to in this announcement.

 

The value of Ordinary Shares and the income from them is not guaranteed and can fall as well as rise due to stock market movements. When you sell your investment, you may get back less than you originally invested. Figures refer to past performance and past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations.

 

Certain statements in this announcement are forward-looking statements which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. These forward-looking statements, which may use words such as "aim", "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning, include all matters that are not historical facts. These forward-looking statements involve risks, assumptions and uncertainties that could cause the actual results of operations, financial condition, liquidity and dividend policy and the development of the industries in which the Company's businesses operate to differ materially from the impression created by the forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given those risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements.

 

These forward-looking statements speak only as at the date of this announcement and cannot be relied upon as a guide to future performance. The Company and Peel Hunt expressly disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the Financial Conduct Authority, the London Stock Exchange or applicable law.

 

The information in this announcement is for background purposes only and does not purport to be full or complete. None of Peel Hunt or any of its affiliates, accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to this announcement, including the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of the announcement or its contents or otherwise arising in connection therewith. Peel Hunt and its affiliates, accordingly disclaim all and any liability whether arising in tort, contract or otherwise which they might otherwise be found to have in respect of this announcement or its contents or otherwise arising in connection therewith.

 

Any indication in this announcement of the price at which the Ordinary Share have been bought or sold in the past cannot be relied upon as a guide to future performance. Persons needing advice should consult an independent financial adviser. No statement in this announcement is intended to be a profit forecast and no statement in this announcement should be interpreted to mean that earnings or target dividend per share of the Company for the current or future financial years would necessarily match or exceed the historical published earnings or dividends per share of the Company.

 

Neither the content of the Company's website (or any other website) nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into or forms part of this announcement. The REX Retail Offer Shares to be issued or sold pursuant to the REX Retail Offer will not be admitted to trading on any stock exchange other than the London Stock Exchange.

 

It is further noted that the REX Retail Offer is only open to investors in the United Kingdom who fall within Article 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (which includes an existing member of the Company).

 

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
 
 
MSCGPUMWRUPWGCC
Date   Source Headline
21st Dec 20107:26 amRNSContracts win
13th Dec 20102:56 pmRNSF-1 Sixth Amendment
17th Nov 20109:02 amRNSF1 - Fifth Amendment Announcement
17th Nov 20108:12 amRNSNine Month 2010 Interim Results
10th Nov 20107:00 amRNSF1 - Fourth Amendment Announcement
19th Oct 20107:00 amRNSF-1 Third Amendment Announcement
19th Oct 20107:00 amRNSHalf Yearly Report - Replacement
14th Oct 20108:32 amRNSTR-1 notification
11th Oct 20103:10 pmRNSTR-1 notification
1st Oct 20107:00 amRNSAcquisition
30th Sep 20107:00 amRNSHalf Yearly Report
24th Sep 20104:31 pmRNSTR-1 notification
6th Sep 20108:50 amRNSF-1 Second Amendment Announcement
18th Aug 20107:00 amRNSSenior Appointments
4th Aug 20105:00 pmRNSVelti Files First Amendment to Form F-1
30th Jul 20103:25 pmRNSResults of AGM and EGM
23rd Jul 20107:00 amRNSTrading Statement
14th Jul 20109:00 amRNSNotice of AGM and EGM
6th Jul 20109:08 amRNSNotification of major interest in shares
30th Jun 20101:55 pmRNSNotification of major interest in shares
30th Jun 20107:00 amRNSAnnual Report and Accounts
11th Jun 20104:35 pmRNSTR-1 notification
9th Jun 20104:53 pmRNSTR-1 notification REPLACEMENT
9th Jun 201010:27 amRNSTR-1 Notification
9th Jun 20109:13 amRNSDirector/PDMR Shareholding
3rd Jun 201011:09 amRNSAcquisition
14th May 20107:00 amRNSVelti files for IPO on NASDAQ
14th May 20107:00 amRNSFinal Results
5th Feb 20108:39 amRNSNotification of Major Interests in Shares
18th Jan 20107:00 amRNSPre-close trading update
13th Jan 20104:23 pmRNSNotification of Major Interests
18th Dec 20099:47 amRNSAdmission of New Shares
16th Dec 20093:56 pmRNSHigh Court Approval
23rd Nov 200912:23 pmRNSResults of voting at Court and General Meeting
28th Oct 20097:00 amRNSSchedule 1 - Velti plc
28th Oct 20097:00 amRNSPosting of Scheme Circular
26th Oct 200912:07 pmRNSShare purchases
23rd Oct 200911:10 amRNSScheme of arrangement
13th Oct 20094:02 pmRNSDirector/PDMR Shareholding
12th Oct 20095:11 pmRNSNotification of major interests in shares
2nd Oct 20093:00 pmRNSAppointment of CFO
2nd Oct 20093:00 pmRNS?2.9m raised through placing
14th Sep 20097:00 amRNSHalf Yearly Report
4th Sep 20099:15 amRNSChange in date of interim results
28th Aug 20093:53 pmRNSShareholding
29th Jul 200911:48 amRNSResult of AGM
28th Jul 200911:45 amRNSNotice of Results
13th Jul 200910:08 amRNSDeferred Shares
2nd Jul 20097:00 amRNSPre-close trading update
30th Jun 20099:53 amRNSAnnual Report and Accounts

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