Velocity Composites Plc (GB:VEL) has released an update.
Velocity Composites PLC has awarded 1.6 million share options to its directors, PDMRs, and key management team, to align their interests with the company’s strategic goals and incentivize performance. These options, with an exercise price of 41.5 pence per share, will vest over time based on EBITDA targets and can be exercised within ten years of the award date. The company, a leading supplier of advanced composite material kits to the aerospace industry, now has approximately 6.2% of its issued share capital under option.
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