Grant of Share Options

About this update from Velocity Composites Plc

3 February 2025   Velocity Composites plc ("Velocity" or the "Company")   Grant of Share Options to Directors/PDMRs and Management Team   Velocity Composites plc (AIM: VEL.L), the leading supplier of advanced composite material kits to the aerospace market, announces that on 31 January 2025, the Board granted a total of 2,085,518 share options over Velocity ordinary shares of 0.25p each (the " Share Options ") to certain directors, PDMRs and other members of the management team.  These Share Options are being awarded to align the recipients with the development and implementation of the Company's strategic plans and to incentivise them appropriately on an ongoing basis.   The Share Options have been awarded under three different schemes that have different exercise prices, vesting periods and conditions attached to them. Details are set out as follows:    LTIP Share Options can be exercised after two years from the date of vesting and will vest each half year once a target profit before tax, set by the Remuneration Committee, has been achieved for the previous 12-month period. Once vested, the Share Options may be exercised at any time until the tenth anniversary of the award date. The Share Options are subject to claw back and malus provisions. These Share options have been granted at a price of 25.72p, a discount of 6.02p, to the closing market price of 31.75p as at 30 January 2025.   Joiner Share Options can be exercised after 3 years from the date of joining and will vest on condition that the option holder is still an employee of the Group on their third anniversary of joining the company. Once vested, the Share Options may be exercised at any time until the tenth anniversary of the award date. The Share Options are subject to claw back and malus provisions and have been granted at a price of 25.72p, a discount of 6.02p, to the closing market price of 31.75p as at 30 January 2025.   Salary Sacrifice Share Options can be exercised after 31 October 2025. Once vested, the Share Options may be exercised at any time until the fifth anniversary of the award date. The Share Options are subject to claw back and malus provisions and have been granted at a price of 0.25p on the basis that the Option Holder surrenders 20% of their salary for the entirety of FY25.   The Share Options have been granted to the following Directors/PDMRs:   Existing Shareholding Existing Options Held New Share Options Scheme under which Options being issued New Share Options as a % of issued share capital Matthew Archer Nil 829,167 200,000 LTIP 0.37% Jonathan Bridges 1 5,365,929 200,000 200,000 LTIP 0.37% James Eastbury Nil 495,862 200,000 LTIP 0.37% Oliver Smalley Nil Nil 200,000 LTIP 0.37% 75,000 Joiner 0.14% Rob Smith 40,000 Nil 200,000 LTIP 0.37% 125,000 Joiner 0.23% Andy Beaden 930,010 Nil 88,276 Salary Sacrifice 0.16% David Bailey 52,323 Nil 38,621 Salary Sacrifice 0.07% Annette Rothwell 78,547 Nil 38,621 Salary Sacrifice 0.07%   1 Jonanthan Bridges' holding includes 4,015,929 ordinary shares held in his own name and 1,350,000 held by his wife, Mrs E Bridges.   In addition to director/PDMRs, 720,000 Share Options have been issued to nine members of the management team who report into the executive team and are key to the performance of the business.   With the exception of the salary sacrifice share options granted to Andy Beaden, David Bailey and Annette Rothwell, the Share Options have been issued under the Company's EMI scheme.   Following the above grants, the Company has a total of 4,859,885 Ordinary Shares currently under option, representing approximately 9.0 per cent of the Company's issued share capital.     Enquiries:   Velocity Composites plc Andy Beaden, Chairman Jon Bridges, Chief Executive Officer Rob Smith,  Chief Financial Officer     +44 (0) 1282 577577 Canaccord Genuity Limited Nominated Adviser and Joint Broker Max Hartley George Grainger   +44 (0) 20 7523 8000 Dowgate Capital Limited Joint Broker Russell Cook Nick Chambers   +44 (0) 20 3903 7715 SEC Newgate Financial Communications Robin Tozer George Esmond Harry Handyside +44 (0)7540 106 366 [email protected]   About Velocity Composites plc Based in Burnley, UK, Velocity is the leading supplier of composite material kits to aerospace and other high-performance manufacturers, that reduce costs and improve sustainability.  Customers include Airbus, Boeing, and GKN.   By using Velocity's proprietary technology, manufacturers can also free up internal resources to focus on their core business.  Velocity has significant potential for expansion, both in the UK and abroad, including into new market areas, such as wind energy, urban air mobility and electric vehicles, where the demand for composites is expected to grow.     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 James Eastbury 2 Reason for the notification a) Position/status PDMR/ Chief Customer officer 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) nil        200,000 d) Aggregated information N/A single transaction Aggregated volume N/A single transaction Price N/A single transaction e) Date of the transaction 31 January 2025 f) Place of the transaction XOFF     1 Details of the person discharging managerial responsibilities / person closely associated a) Name Jonathan Bridges 2 Reason for the notification a) Position/status Director / CEO 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) nil                 200,000 d) Aggregated information N/A single transaction Aggregated volume N/A single transaction Price N/A single transaction e) Date of the transaction 31 January 2025 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 / Chief Commercial & Compliance Officer 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) nil                 200,000 d) Aggregated information N/A single transaction Aggregated volume N/A single transaction Price N/A single transaction e) Date of the transaction 31 January 2025 f) Place of the transaction XOFF                                   1 Details of the person discharging managerial responsibilities / person closely associated a) Name Oliver Smalley 2 Reason for the notification a) Position/status PDMR / Chief Operations Officer 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) nil                 200,000 d) Aggregated information N/A single transaction Aggregated volume N/A single transaction Price N/A single transaction e) Date of the transaction 31 January 2025 f) Place of the transaction XOFF                 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Robert Smith 2 Reason for the notification a) Position/status Director / Chief Financial Officer 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) nil                 325,000 d) Aggregated information N/A single transaction Aggregated volume N/A single transaction Price N/A single transaction e) Date of the transaction 31 January 2025 f) Place of the transaction XOFF   1 Details of the person discharging managerial responsibilities / person closely associated a) Name Andrew Beaden 2 Reason for the notification a) Position/status Director / 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) nil                 88,276 d) Aggregated information N/A single transaction Aggregated volume N/A single transaction Price N/A single transaction e) Date of the transaction 31 January 2025 f) Place of the transaction XOFF   1 Details of the person discharging managerial responsibilities / person closely associated a) Name David Bailey 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) nil                 38,621 d) Aggregated information N/A single transaction Aggregated volume N/A single transaction Price N/A single transaction e) Date of the transaction 31 January 2025 f) Place of the transaction XOFF   1 Details of the person discharging managerial responsibilities / person closely associated a) Name Annette Rothwell 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) nil                 38,621 d) Aggregated information N/A single transaction Aggregated volume N/A single transaction Price N/A single transaction e) Date of the transaction 31 January 2025 f) Place of the transaction XOFF                                                                                                

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