Velocity Composites PLC Issue of Options (3414U)
October 23 2017 - 5:32AM
UK Regulatory
TIDMVEL
RNS Number : 3414U
Velocity Composites PLC
23 October 2017
23 October 2017
Velocity Composites plc
("Velocity" or the "Company")
Issue of Options
Velocity Composites plc, the leading supplier of advanced
composite material kits, providing engineering value-solutions for
the global aerospace industry, announces that the Company has
issued a total of 35,000 options to subscribe for new ordinary
shares in the Company under the Velocity Composites Limited
Enterprise Management Incentive and Unapproved Scheme, as adopted
by the Board on 09 March 2017, to various employees and a PDMR of
the Company (the "Options"). The Options shall become exercisable
on or after the second anniversary of the grant date.
The Options are exercisable at 69.26 pence and will expire on
the day before the tenth anniversary of the grant date. Details of
the PDMR award are in the disclosure notice at the end of this
announcement.
Ends
CONTACT DETAILS:
Velocity c/o Camarco
Jon Bridges, CEO Tel: 020
Alan Kershaw, CFO 3757 4980
finnCap (Nominated Adviser and Broker) Tel: 020
Adrian Hargrave / Scott Mathieson 7220 0500
/ Kate Bannatyne (Corporate Finance)
Tim Redfern / Sultan Awan (Corporate
Broking)
Camarco (Financial PR) Tel: 020
Georgia Edmonds / James Crothers 3757 4980
About Velocity Composites
Velocity Composites is a manufacturer of composite material kits
for the aerospace industry, delivering engineered kits for its
customers to build component parts. The Company's clients 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 A330, A350, A380, Eurofighter Typhoon,
F35 Joint Strike Fighter and Bell Boeing 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
Composites also exports to Denmark, France, and Belgium.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
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 Matthew Archer
--- ------------------------------- ---------------------------
2. Reason for the Notification
--- ------------------------------------------------------------
a) Position/status Chief Commercial Officer
--- ------------------------------- ---------------------------
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 Options to subscribe for
the Financial new ordinary shares of
instrument, type 0.25p each
of instrument
---
Identification VEL GB00BF339H01
code
--- ------------------------------- ---------------------------
b) Nature of the Grant of options
transaction
--- ------------------------------- ---------------------------
c) Price(s) and volume(s) Volume - 25,000
Price - 69.26p
--- ------------------------------- ---------------------------
d) Aggregated information:
Aggregated volume See 4c) above
Price
--- ------------------------------- ---------------------------
e) Date of the transaction Share Options as described
in 4c) Granted 17 October
2017
--- ------------------------------- ---------------------------
f) Place of the transaction Outside of a trading venue
--- ------------------------------- ---------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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