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VELOCITY COMPOSITES PLC
Remuneration Information • Mar 17, 2022
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Remuneration Information
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National Storage Mechanism | Additional information 
RNS Number : 1337F
Velocity Composites PLC
17 March 2022
17 March 2022
Velocity Composites plc
("Velocity" or the "Company")
Grant of Share Options to Directors/PDMRs
Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced composite material kits to the aerospace market, announces that on 16 March 2022, the Board awarded a total of 479,999 share options over Velocity ordinary shares of 0.25p each (the "Share Options") to certain directors and PDMRs as part of cash salary/fees sacrifice arrangements, related to the cost reduction programme announced on 17 December 2020, as follows:
| Shareholding | Existing Options Held |
New Share Options Granted | Total New Share Options as % of issued share capital | |
| Andy Beaden (Non-executive Chairman) |
400,000 | 108,475(1) | 76,235(1) | 0.21% |
| Robert Soen (Non-executive Director |
- | 28,805(1) | 33,412(1) | 0.09% |
| Christopher Williams (Finance Director) |
- | 272,268(2) | 103,529(2) | 0.29% |
| James Eastbury (PDMR) |
- | 280,932(2) | 103,529(2) | 0.29% |
| Matthew Archer (PDMR) |
- | 480,932(2) | 108,235(2) | 0.30% |
| Jeffrey Armitage (PDMR) |
- | - | 55,059(2) | 0.15% |
(1) Share Options awarded under the Company's Unapproved Option Scheme
(2) Share Options awarded under the Company's EMI scheme
All of the Share Options will become exercisable on 1 November 2022, have a vesting period of one year and are exercisable at a price of 21.5 pence.
Following the above grants, the Company has a total of 2,279,545 Ordinary Shares currently under option, representing approximately 6.28 per cent of the Company's issued share capital.
Enquiries:
| Velocity Composites plc Andy Beaden, Chairman Jon Bridges, Chief Executive Officer |
+44 (0) 1282 577577 |
| Cenkos Securities plc Nominated Adviser and Broker Katy Birkin Ben Jeynes |
+44 (0) 20 7397 4000 |
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 | Andrew Beaden | |
| 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 the financial instrument, type of instrument | Ordinary shares of 0.25p each | |
| Identification code | GB00BF339H01 | ||
| b) | Nature of the transaction | Grant of share options over ordinary shares of 0.25p each | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| £0.215 | 76,235 | ||
| d) | Aggregated information | N/A single transaction | |
| Aggregated volume | N/A single transaction | ||
| Price | N/A single transaction | ||
| e) | Date of the transaction | 16 March 2022 | |
| f) | Place of the transaction | XOFF |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Robert Soen | |
| 2 | Reason for the notification | ||
| a) | Position/status | Non-executive Director | |
| 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 the financial instrument, type of instrument | Ordinary shares of 0.25p each | |
| Identification code | GB00BF339H01 | ||
| b) | Nature of the transaction | Grant of share options over ordinary shares of 0.25p each | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| £0.215 | 33,412 | ||
| d) | Aggregated information | N/A single transaction | |
| Aggregated volume | N/A single transaction | ||
| Price | N/A single transaction | ||
| e) | Date of the transaction | 16 March 2022 | |
| f) | Place of the transaction | XOFF |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Christopher Williams | |
| 2 | Reason for the notification | ||
| a) | Position/status | Finance Director | |
| 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 the financial instrument, type of instrument | Ordinary shares of 0.25p each | |
| Identification code | GB00BF339H01 | ||
| b) | Nature of the transaction | Grant of share options over ordinary shares of 0.25p each | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| £0.215 | 103,529 | ||
| d) | Aggregated information | N/A single transaction | |
| Aggregated volume | N/A single transaction | ||
| Price | N/A single transaction | ||
| e) | Date of the transaction | 16 March 2022 | |
| f) | Place of the transaction | XOFF |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | James Eastbury | |
| 2 | Reason for the notification | ||
| a) | Position/status | PDMR/Customer Programmes Director | |
| 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 the financial instrument, type of instrument | Ordinary shares of 0.25p each | |
| Identification code | GB00BF339H01 | ||
| b) | Nature of the transaction | Grant of share options over ordinary shares of 0.25p each | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| £0.215 | 103,529 | ||
| d) | Aggregated information | N/A single transaction | |
| Aggregated volume | N/A single transaction | ||
| Price | N/A single transaction | ||
| e) | Date of the transaction | 16 March 2022 | |
| f) | Place of the transaction | XOFF |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Matthew Archer | |
| 2 | Reason for the notification | ||
| a) | Position/status | PDMR/Commercial and Supply Chain Director | |
| 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 the financial instrument, type of instrument | Ordinary shares of 0.25p each | |
| Identification code | GB00BF339H01 | ||
| b) | Nature of the transaction | Grant of share options over ordinary shares of 0.25p each | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| £0.215 | 108,235 | ||
| d) | Aggregated information | N/A single transaction | |
| Aggregated volume | N/A single transaction | ||
| Price | N/A single transaction | ||
| e) | Date of the transaction | 16 March 2022 | |
| f) | Place of the transaction | XOFF |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||
| a) | Name | Jeffrey Armitage | |
| 2 | Reason for the notification | ||
| a) | Position/status | PDMR/Strategic Operation Director | |
| 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 the financial instrument, type of instrument | Ordinary shares of 0.25p each | |
| Identification code | GB00BF339H01 | ||
| b) | Nature of the transaction | Grant of share options over ordinary shares of 0.25p each | |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
| £0.215 | 55,059 | ||
| d) | Aggregated information | N/A single transaction | |
| Aggregated volume | N/A single transaction | ||
| Price | N/A single transaction | ||
| e) | Date of the transaction | 16 March 2022 | |
| f) | Place of the transaction | XOFF |
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