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LONDON - Velocity Composites plc (AIM:VEL), a supplier of composite material kits to the aerospace industry, announced that 604,167 share options were exercised on July 7, 2025, at a price of 0.25 pence per share.
According to a company press release, the options were exercised by Matthew Archer, a Person Discharging Managerial Responsibilities (PDMR) at the company. Following the transaction, Archer sold 287,602 shares to cover tax liabilities and retained 316,565 shares, representing approximately 0.5% of the company’s issued share capital.
The newly issued ordinary shares of 0.25 pence each are expected to be admitted to trading on the AIM market on July 11, 2025. Upon admission, these shares will rank equally with existing ordinary shares.
Following the issuance, Velocity Composites will have a total of 54,669,371 ordinary shares in issue, with no shares held in treasury. This figure may be used by shareholders as the denominator for calculations to determine if they need to notify their interest in the company under the Financial Conduct Authority’s Disclosure, Guidance and Transparency Rules.
The company noted that the new shares will rank pari passu with existing ordinary shares upon admission to trading.
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