Velocity Composites PLC Director Dealing (3048V)
November 01 2017 - 10:45AM
UK Regulatory
TIDMVEL
RNS Number : 3048V
Velocity Composites PLC
01 November 2017
1 November 2017 For immediate release
VELOCITY COMPOSITES plc
("Velocity" or the "Company")
Director Dealing
Velocity Composites plc, the leading supplier of advanced
composite material kits, providing engineering value-solutions for
the global aerospace industry, announces that it has been notified
that today, Mark Mills, Non-Executive Chairman of the Company,
purchased 58,824 ordinary shares of 0.25 pence each ("Ordinary
Shares") at a price of 85 pence per Ordinary Share (the
"Purchase").
Following the Purchase, Mr. Mills has a beneficial interest in
1,884,024 Ordinary Shares representing approximately 5.26% of the
issued share capital of the Company.
Ends
CONTACT DETAILS:
Velocity c/o Camarco
Jon Bridges, CEO Tel: 020
Alan Kershaw, CFO 3757 4980
Tel: 020
finnCap (Nominated Adviser and Broker) 7220 0500
Adrian Hargrave / Scott Mathieson
/ 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.
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 Mark Mills
--- ------------------------------- --------------------------------
2. Reason for the Notification
--- -----------------------------------------------------------------
a) Position/status Non-Executive Chairman
--- ------------------------------- --------------------------------
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 Ordinary shares of 0.25
the Financial pence each ("Ordinary Shares")
instrument, type
of instrument
---
Identification VEL GB00BF339H01
code
--- ------------------------------- --------------------------------
b) Nature of the Purchase of Ordinary Shares
transaction
--- ------------------------------- --------------------------------
c) Price(s) and volume(s) Volume - 58,824
Price - 85p
--- ------------------------------- --------------------------------
d) Aggregated information:
Aggregated volume See 4c) above
Price
--- ------------------------------- --------------------------------
e) Date of the transaction 1 November 2017
--- ------------------------------- --------------------------------
f) Place of the transaction London Stock Exchange,
AIM Market (XLON)
--- ------------------------------- --------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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