Exercise of Share Options and Issue of Equity
Directors exercised 483,660 share options at 0.25p; new shares admitted to AIM on 24 December 2024.
- Options exercised 483,660
- Exercise price 0.25p
- Total Ordinary Shares in issue post-Admission 53,993,366
- Andy Beaden shareholding post-exercise 930,010 shares (1.72%)
- Annette Rothwell shareholding post-exercise 78,547 shares (0.15%)
- David Bailey shareholding post-exercise 52,313 shares (0.10%)
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Velocity Composites plc (AIM: VEL), the leading supplier of composite material kits to aerospace, has been notified that, on 18 December 2024, a total of 483,660 options over Velocity ordinary shares of 0.25 pence each ("Ordinary Shares") were exercised at a price of 0.25p (the "Option Exercises"). Following the exercises, sufficient Ordinary Shares were sold to cover the tax liabilities ("Disposals)".
The Option Exercises and Disposals include the following dealings by PDMRs:
| PDMR | Number of Options | Disposals | Number of Ordinary Shares held following Option Exercise and Disposal | Percentage of issued share capital following Admission |
|---|---|---|---|---|
| Andy Beaden | 249,035 | Nil | 930,010 | 1.72% |
| Annette Rothwell | 96,674 | 18,127 | 78,547 | 0.15% |
| David Bailey | 75,734 | 23,421 | 52,313 | 0.10% |
Application has been made for 483,660 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur on 24 December 2024 and the Ordinary Shares will, on issue, rank pari passu in all respects with the Company's existing Ordinary Shares.
On Admission, the Company will have a total of 53,993,366 Ordinary Shares in issue. No Ordinary Shares are held in treasury. The figure of 53,993,366 may be used by the Company's shareholders as the denominator in the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure, Guidance and Transparency Rules.
| a) | Name | Andy Beaden |
| 2 | Reason for the notification | |
| a) | Position/status | Chairman |
| b) | Initial notification/Amendment | Initial Notification |
| a) | Name | Velocity Composites plc |
| b) | LEI | 213800W4W46J8HGZP672 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of 0.25 pence each |
| Identification code | GB00BF339H01 | |
| b) | Nature of the transaction | Exercise of share options over ordinary shares of 0.25p each AND disposal of sufficient shares to discharge tax liability upon exercise |
| c) | Price(s) and volumes(s) | Price Volume Option Exercise n/a 249,035 |
| d) | Aggregated information | N/A single transaction |
| Aggregated volume | N/A single transaction | |
| Aggregated Price | N/A single transaction | |
| e) | Date of the transaction | Option Exercise: 18 December 2024 |
| f) | Place of the transaction | Option Exercise: XOFF |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Annette Rothwell |
| 2 | Reason for the notification | |
| a) | Position/status | NED |
| b) | Initial notification/Amendment | Initial Notification |
| a) | Name | Velocity Composites plc |
| b) | LEI | 213800W4W46J8HGZP672 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of 0.25 pence each |
| Identification code | GB00BF339H01 | |
| b) | Nature of the transaction | Exercise of share options over ordinary shares of 0.25p each AND disposal of sufficient shares to discharge tax liability upon exercise |
| c) | Price(s) and volumes(s) | Price Volume Option Exercise n/a 96,674 Disposal 25.5p 18,127 |
| d) | Aggregated information | N/A single transaction |
| Aggregated volume | N/A single transaction | |
| Aggregated Price | N/A single transaction | |
| e) | Date of the transaction | Option Exercise: 18 December 2024 Disposal: 20 December 2024 |
| f) | Place of the transaction | Option Exercise: XOFF Disposal: AIM |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | David Bailey |
| 2 | Reason for the notification | |
| a) | Position/status | NED |
| b) | Initial notification/Amendment | Initial Notification |
| a) | Name | Velocity Composites plc |
| b) | LEI | 213800W4W46J8HGZP672 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of 0.25 pence each |
| Identification code | GB00BF339H01 | |
| b) | Nature of the transaction | Exercise of share options over ordinary shares of 0.25p each AND disposal of sufficient shares to discharge tax liability upon exercise |
| c) | Price(s) and volumes(s) | Price Volume Option Exercise n/a 75,734 Disposal 25.5p 23,421 |
| d) | Aggregated information | N/A single transaction |
| Aggregated volume | N/A single transaction | |
| Aggregated Price | N/A single transaction | |
| e) | Date of the transaction | Option Exercise: 18 December 2024 Disposal: 20 December 2024 |
| f) | Place of the transaction | Option Exercise: XOFF Disposal: AIM |
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