Velocity Composites PLC Board appointment and change in Company Secretary
RNS Number : 0791V
Velocity Composites PLC
04 August 2020
4 August 2020
VELOCITY COMPOSITES PLC
Change of Company Secretary
Velocity Composites plc (AIM: VEL.L), the leading supplier of
advanced composite material kits to the aerospace market, is
pleased to announce the appointment of Chris Williams as Group
Finance Director with effect from today. Andrew Hebb, who has been
the Company's Interim Finance Director and Company Secretary since
January 2019, will remain available to provide an orderly hand
Chris brings a broad range of experience, most recently in the
position of Finance and Commercial Director at Bettys Café Tea
Rooms, part of the Bettys & Taylors Group Ltd, which also owns
and operates Yorkshire Tea and Taylors of Harrogate coffee.
Previously he has held strategic and divisional finance roles at
the engineering group Caparo Industries plc, Shazans the food
company and 2 Sisters Food Group, where he worked closely with its
Directors on new business starts and growth initiatives.
After achieving his Masters Degree from Birmingham University
with an MSci (Physics), Chris qualified as a Chartered Accountant
with KPMG in 2010, and then remained with KPMG as a Management
Consultant, specialising in Corporate Finance and M&A work.
Chris has no interests in the Company's issued share capital.
The Company also announces that Adam Newton, Velocity's Group
Financial Controller, has been promoted to Company Secretary. Adam
is a Certified Accountant, who joined Velocity shortly before the
Company's IPO, gaining a strong knowledge of the business and is a
key member of the management team.
Andy Beaden, Chairman, commented:
"The Board is pleased to make these announcements which is
another key step in the building of the new dynamic management
team, with a broader spread of skills to drive growth.
"We are grateful for Andrew Hebb's support as a seasoned interim
and wish him well in his next venture."
Christopher (Chris) Williams, aged 36, has held no other
directorships or partnerships within the past five years.
There is no other information that is required to be disclosed
pursuant to paragraph (g) of Schedule Two of the AIM Rules for
Jon Bridges, Chief Executive Officer
Andy Beaden, Chairman +44 (0) 1282 577577
Cenkos (Nominated Adviser and Broker) +44 (0)20 7397 8900
Russell Cook +44 (0)20 7397 1977
Ben Jeynes +44 (0)20 7397 1974
Belvedere Communications (Financial VelocityPR@belvederepr.com
PR) +44 (0) 7715 769 078
Cat Valentine +44 (0) 7967 816 525
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 A320, A330, A350, A380, Eurofighter
Typhoon, F35 Joint Strike Fighter, Boeing 737 and 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 Europe and North America.
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(END) Dow Jones Newswires
August 04, 2020 05:46 ET (09:46 GMT)