Exercise of Share Options and Issue of Equity
Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced composite material kits to the aerospace market, announces that on 29 March 2022, Andrew Beaden, Non-executive Chairman, exercised 108,475 options over Velocity ordinary shares of 0.25 pence each (“Ordinary Shares”) at a price of 0.25p.
Application has been made for 108,475 Ordinary Shares to be admitted to trading on AIM (“Admission”). Admission is expected to occur on 4 April 2022 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 36,411,539 Ordinary Shares in issue. No Ordinary Shares are held in treasury. The figure of 36,411,539 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.
Velocity Composites - +44 (0) 1282 577577
Andy Beaden, Chairman
Jon Bridges, Chief Executive Officer
Chris Williams, Finance Director
Cenkos (Nominated Adviser and Broker) - +44 (0)20 7397 8900
SEC Newgate (Financial PR) - +44 (0)7540 106 366
Robin Tozer / Richard Bicknell