Velocity Composites Plc (GB:VEL) has released an update.
Velocity Composites Plc, a key supplier of advanced composite material kits to the aerospace industry, has announced the exercise of 41,338 share options and the subsequent issue of equity, with the new shares expected to be admitted for trading on October 7, 2024. Following the admission, the company will have 53,509,706 Ordinary Shares in circulation, none of which are held in treasury. The move is part of Velocity’s growth strategy, which could extend its reach beyond aerospace into markets such as wind energy and electric vehicles.
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