17 Dec 2021 08:01
Velocys plc
("Velocys" or the "Company")
Director/PDMR Dealings
Velocys plc (VLS.L), the sustainable fuels technology company, announces that further to the announcement on 25 November 2021 detailing the proposed Placing and Open Offer and the Circular sent to shareholders on 29 November 2021, which contained details advising the proposed subscription by certain of the directors of the Company, the following Directors' dealings as part of the Placing and Open Offer have completed:
Andrew Morris, Chief Financial Officer, has subscribed for 125,000 New Ordinary Shares through the Open Offer at the Issue Price of 8 pence per Ordinary Share.
Philip Holland, Non-Executive Chairman, has subscribed for 125,000 New Ordinary Shares through the Open Offer at the Issue Price of 8 pence per Ordinary Share.
Darran Messem, Non-Executive Director, has subscribed for 125,000 New Ordinary Shares through the Placing at the Issue Price of 8 pence per Ordinary Share.
Ann Markey, Non-Executive Director, has subscribed for 125,000 New Ordinary Shares through the Placing at the Issue Price of 8 pence per Ordinary Share.
Thomas Quigley, Non-Executive Director, has subscribed for 125,000 New Ordinary Shares through the Placing at the Issue Price of 8 pence per Ordinary Share.
Details of the Ordinary Shares held by these Directors are detailed in the table below:
Director/ PDMR | Position | Existing interest in Ordinary Shares | Ordinary Shares purchased | Total beneficial interest in Ordinary Shares | Total interest in Company's issued share capital |
Andrew Morris | Chief Financial Officer | 1,047,817 | 125,000 | 1,172,817 | 0.08% |
Philip Holland | Non-Executive Chairman | 1,203,118 | 125,000 | 1,328,118 | 0.09% |
Darran Messem | Non-Executive Director | 433,333 | 125,000 | 558,333 | 0.04% |
Ann Markey | Non-Executive Director | - | 125,000 | 125,000 | 0.01% |
Thomas Quigley | Non-Executive Director | - | 125,000 | 125,000 | 0.01% |
The notification set out below, provides further details of such dealings:
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Names
| a) Andrew Mrorris b) Philip Holland c) Darran Messem d) Ann Markey e) Thomas Quigley | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| a) Chief Financial Officer b) Non-Executive Chairman c) Non-Executive Director d) Non-Executive Director e) 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
| Velocys plc | |||
b)
| LEI
| 549300KGMQV70HA5Y715 | |||
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 instrument, type of instrument | Ordinary Shares of 1 pence each | |||
Identification code | GB00B11SZ269 | ||||
b)
| Nature of the transaction
| Purchase of Ordinary Shares | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
a) 8 pence | a) 125,000 | ||||
b) 8 pence | b) 125,000 | ||||
c) 8 pence | c) 125,000 | ||||
d) 8 pence | d) 125,000 | ||||
e) 8 pence | e) 125,000 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 625,000 | ||||
- Price | 8 pence per share | ||||
e)
| Date of the transaction
| 17 December 2021 | |||
f)
| Place of the transaction | XLON | |||
Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the circular sent to shareholders of the Company on 29 November 2021.
Enquiries:
Velocys Henrik Wareborn, CEO Andrew Morris, CFO Lak Siriwardene, Director of Communications & Sustainability | +44 1865 800821 |
Panmure Gordon (UK) Limited (Nomad and Joint Broker) Emma Earl (Corporate Finance) John Prior (Corporate Finance) Hugh Rich (Corporate Broking) | +44 20 7886 2500 |
Shore Capital Stockbrokers Limited (Joint Broker) Henry Willcocks (Corporate Broking) Toby Gibbs (Corporate Advisory) James Thomas (Corporate Advisory) Liam Zabludowicz (Corporate Advisory) | +44 20 7408 4090 |
Buchanan (Financial PR) Helen Tarbet Simon Compton | +44 20 7466 5000 |
Radnor Capital (Investor Relations) Joshua Cryer Iain Daly | +44 20 3897 1830 |
Notes to Editors
Velocys is an LSE-listed, international sustainable fuels technology company, traded on the AIM, providing clients with a technology solution to enable the production of negative Carbon Intensity synthetic, drop-in fuels from a variety of waste materials. SAF ('Sustainable Aviation Fuel') is the only commercially available, permanent alternative to fossil aviation fuels.
The technology is IP-protected in all major jurisdictions.
Two reference projects in the US and UK (Bayou Fuels and Altalto) are designed to accelerate the adoption and standardise the Velocys proprietary Fischer Tropsch (FT) technology with an integrated end to end solution, including renewable power and sequestration. Velocys is enabling commercial scale SAF production in response to the clean energy transition.
Velocys technology pathway is enabling the next generation of low carbon sustainable fuels with significant additional positive air quality impacts.
www.velocys.com