VELOCITY COMPOSITES PLC

Proxy Solicitation & Information Statement • Mar 22, 2019

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RNS Number : 6593T

Velocity Composites PLC

22 March 2019

22 March 2019

Velocity Composites plc

("Velocity" or the "Company")

Result of proxy vote ahead of Annual General Meeting ("AGM")

Velocity announces that the Company has been unsuccessful in seeking an injunction against Jonathan Bridges, Christopher Banks and Gerard Johnson (together the "Founders") which would have precluded them from exercising their voting rights against the re-appointment of the Directors at the Company's AGM scheduled for 25 March 2019.

Whilst the Company was unsuccessful, Christopher Banks and Gerard Johnson gave undertakings not to accept any offers of employment from the Company.

The Annual General Meeting will be held at 10.00 a.m. on 25 March 2019 at the offices of finnCap, 60 New Broad Street, London EC2M 1JJ and the Company will make a further announcement following its conclusion.

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CONTACT DETAILS:

Velocity Mark Mills, Executive Chairman	c/o Camarco Tel: 020 3757 4980
finnCap (Nominated Adviser and Broker) Ed Frisby / Scott Mathieson / Hannah Boros (Corporate Finance)                     Tim Redfern (ECM)	Tel: 020 7220 0500
Camarco (Financial PR) Ed Gascoigne Pees / Georgia Edmonds / James Crothers	Tel: 020 3757 4980

About Velocity Composites

Velocity Composites is a manufacturer of advanced composite material kits for the aerospace industry, delivering engineered waste reduction solutions for its customers to build aircraft components using less time and material. The Company's customers 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 and Boeing 737, 787 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's services are seeing increased demand as the global aircraft industry enters a more-for-less era.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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