Grant of Share Options to Directors/PDMRs
Board granted 1.36m share options to directors and management at 12.56p exercise price.
- Share options granted 1,360,000
- Exercise price 12.56p
- Market price at grant date 15.50p (prior 18 March 2026)
- Total options outstanding 5,610,519
- Options as % of issued capital 10.3%
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Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced composite material kits to the aerospace market, announces that on 23 March 2026, the Board granted a total of 1,360,000 to certain directors, PDMRs and other members of the management team. These Share Options recognise each of their roles and responsibilities in developing and implementing the Company's strategic plans and are designed to continue to incentivise them appropriately.
The Share Options can be exercised after 2 years from the date of vesting and will vest each half year once a target PBT, set by the Remuneration Committee, has been achieved for the previous 12-month period. Once vested, the Share options have been granted at a price of 12.56p, a discount of 2.94p, to the closing market price of 15.50p as at 18 March 2026.
The Share Options have been granted to the following Directors/PDMRs:
| Existing Shareholding | Existing Options Held | New Share Options | New Share Options as a % of issued share capital | |
|---|---|---|---|---|
| Jonathan Bridges 1 | 5,032,596 | 657,015 | 200,000 | 0.37% |
| James Eastbury | Nil | 1,063,876 | 200,000 | 0.37% |
| Oliver Smalley | Nil | 454,105 | 200,000 | 0.37% |
| Rob Smith | 40,000 | 545,298 | 200,000 | 0.37% |
1 Jonathan Bridges' holding includes 4,015,929 ordinary shares held in his own name and 1,016,667 held by his wife.
The Share Options granted to Jonathan Bridges, Oliver Smalley and Rob Smith have been issued under the Company's EMI scheme.
Following the above grants, the Company has a total of 5,610,519 Ordinary Shares currently under option, representing approximately 10.3 per cent of the Company's issued share capital.
| a) | Name | James Eastbury | |
| 2 | Reason for the notification | ||
| a) | Position/status | PDMR/ Chief Customer officer | |
| 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 0.25p each | |
| Identification code | GB00BF339H01 | ||
| b) | Nature of the transaction | Grant of share options over ordinary shares of 0.25p each | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| nil | 200,000 | ||
| d) | Aggregated information | N/A single transaction | |
| Aggregated volume | N/A single transaction | ||
| Price | N/A single transaction | ||
| e) | Date of the transaction | 23 March 2026 | |
| f) | Place of the transaction | XOFF | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Jonathan Bridges | |
| 2 | Reason for the notification | ||
| a) | Position/status | Director / CEO | |
| 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 0.25p each | |
| Identification code | GB00BF339H01 | ||
| b) | Nature of the transaction | Grant of share options over ordinary shares of 0.25p each | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| nil | 200,000 | ||
| d) | Aggregated information | N/A single transaction | |
| Aggregated volume | N/A single transaction | ||
| Price | N/A single transaction | ||
| e) | Date of the transaction | 23 March 2026 | |
| f) | Place of the transaction | XOFF | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Oliver Smalley | |
| 2 | Reason for the notification | ||
| a) | Position/status | PDMR / Chief Operations Officer | |
| 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 0.25p each | |
| Identification code | GB00BF339H01 | ||
| b) | Nature of the transaction | Grant of share options over ordinary shares of 0.25p each | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| nil | 200,000 | ||
| d) | Aggregated information | N/A single transaction | |
| Aggregated volume | N/A single transaction | ||
| Price | N/A single transaction | ||
| e) | Date of the transaction | 23 March 2026 | |
| f) | Place of the transaction | XOFF | |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Robert Smith | |
| 2 | Reason for the notification | ||
| a) | Position/status | Director / Chief Financial Officer | |
| 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 0.25p each | |
| Identification code | GB00BF339H01 | ||
| b) | Nature of the transaction | Grant of share options over ordinary shares of 0.25p each | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| nil | 200,000 | ||
| d) | Aggregated information | N/A single transaction | |
| Aggregated volume | N/A single transaction | ||
| Price | N/A single transaction | ||
| e) | Date of the transaction | 23 March 2026 | |
| f) | Place of the transaction | XOFF |
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