Director/PDMR Shareholding

RNS Number : 8539C
Velocity Composites PLC
25 January 2018
 

 

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

 

2.               

Reason for the Notification

 

a)

Position/status

Non-Executive Chairman

 

b)

Initial notification/Amendment

Initial notification

3.    

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

Name

Velocity Composites plc

 

b)

LEI

213800W4W46J8HGZP672

 

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 0.25 pence each ("Ordinary Shares")

Identification code

VEL  GB00BF339H01

 

b)

Nature of the transaction

Purchase of Ordinary Shares

 

c)

Price(s) and volume(s)

Volume - 50,000 ordinary shares

Price - 95 pence

 

d)

Aggregated information:

Aggregated volume

Price

 

See 4c) above

 

e)

Date of the transaction

24 January 2018

 

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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