Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced composite material kits to the aerospace market, announced on 17 November 2020 that as part of the cost reduction programme undertaken by the Company the directors and certain senior executives had agreed to a deferment of 20% of their salaries for which they will receive shares in the Company in lieu of cash, through an issue of share options of a similar value.

Due to an oversight at the Company these options which were awarded on 30 October 2020 but no announcement was made at the time.

A total of 615,065 share options (the “Share Options”) over Velocity ordinary shares of 0.25p each (“Ordinary Shares”) have been awarded, including 303,201 Share Options to the following directors.

Full RNS can be viewed here Grant of Share Options to Directors

Enquiries:

Velocity Composites plc

• Andy Beaden, Chairman
• Jon Bridges, Chief Executive Officer +44 (0)1282 577577

Cenkos Securities (Nominated Adviser and Broker)

• Russell Cook
• Ben Jeynes +44 (0)20 7397 8900