19 Jun 2023 17:25
The following amendments have been made to the 'Director/PDMR Dealing' announcement released on 09 June 2023 at 09:13 under RNS No 2558C.
· Due to a historical administrative error, the existing and total beneficial interests of Philip Holland, Non-executive Chairman, following his subscription for 400,000 Placing Shares have been understated by 15,516 Ordinary Shares. Mr Holland's existing beneficial interest should have been disclosed as 1,343,634 Ordinary shares, and his beneficial interest following Admission should have been disclosed as 1,743,634 Ordinary Shares representing 0.11% of the Company's Enlarged Share Capital.
· As a result, following Admission on 9 June, the Directors who subscribed in the Placing hold an aggregate interest in 6,512,079 Ordinary Shares (not 6,496,563 Ordinary shares) representing approximately 0.4 per cent. of the Enlarged Share Capital of the Company.
All other details remain unchanged.
The full amended text is shown below.
Velocys plc
("Velocys" or the "Company")
Director/PDMR Dealing
Velocys plc (VLS.L), the sustainable fuels technology company, announces the following dealings by directors and persons discharging managerial responsibility ('PDMR'), following the proposed subscription by certain directors of the Company as detailed in the proposed Placing, Open Offer and Retail Offer announcement from 18 May 2022 and as set out in the circular to shareholders published on 22 May 2023.
Henrik Wareborn, Philip Sanderson, Philip Holland, Ann Markey, and Thomas Quigley, subscribed for an aggregate of 2,400,000 Placing Shares at the Issue Price. Following Admission today, the above Directors hold an aggregate interest in 6,512,079 Ordinary Shares, representing approximately 0.4 per cent. of the Enlarged Share Capital of the Company. 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 |
Henrik Wareborn | Chief Executive Officer | 2,318,445 | 800,000 | 3,118,445 | 0.18% |
Philip Sanderson | Chief Financial Officer | 200,000 | 400,000 | 600,000 | 0.03% |
Philip Holland | Non-Executive Chairman | 1,343,634 | 400,000 | 1,743,634 | 0.11% |
Ann Markey | Non-Executive Director | 125,000 | 400,000 | 525,000 | 0.03% |
Tom Quigley | Non-Executive Director | 125,000 | 400,000 | 525,000 | 0.03% |
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 22 May 2023.
Enquiries:
Velocys Henrik Wareborn, CEO Philip Sanderson, CFO | +44 1865 800821 |
Panmure Gordon (UK) Limited (Nomad, Joint Bookrunner & Joint Broker) Hugh Rich (Corporate Broking) Emma Earl (Corporate Finance) John Prior (Corporate Finance) Mark Rogers (Corporate Finance) | +44 20 7886 2500 |
Shore Capital Stockbrokers Limited (Joint Bookrunner & Joint Broker) Henry Willcocks (Corporate Broking) Toby Gibbs (Corporate Advisory) James Thomas (Corporate Advisory) Angus Murphy (Corporate Advisory) | +44 20 7408 4090 |
Radnor Capital (Investor Relations) Joshua Cryer Iain Daly
| +44 20 3897 1830 |
Buchanan (Financial PR) Helen Tarbet Simon Compton | +44 20 7466 5000 |
Notes to Editors
Velocys is an AIM quoted, international sustainable fuels technology company, providing customers with a technology solution to enable the production of negative Carbon Intensity synthetic, drop-in fuels from a variety of waste materials. Synthetic fuel is the only commercially available, permanent alternative to fossil aviation fuels. The Velocys technology is IP-protected in all major jurisdictions.
Two reference projects in the US and UK (Bayou Fuels and Altalto respectively) 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 synthetic fuel production in response to the clean energy transition, with significant additional positive air quality impacts.
www.velocys.com
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 U.S. Securities Act of 1933, as amended, 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.
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)
| Names
| a) Henrik Wareborn b) Philip Sanderson c) Philip Holland d) Ann Markey e) Thomas Quigley | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| a) Chief Executive Officer b) Chief Financial Officer c) Non-Executive Chairman 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) 2.5 pence | a) 800,000 | ||||
b) 2.5 pence | b) 400,000 | ||||
c) 2.5 pence | c) 400,000 | ||||
d) 2.5 pence | d) 400,000 | ||||
e) 2.5 pence | e) 400,000 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 2,400,000 | ||||
- Price | 2.5 pence per share | ||||
e)
| Date of the transaction
| 9 June 2023 | |||
f)
| Place of the transaction | XLON | |||