IN BRIEF: Surface Transforms enters asset sale transaction agreement

Surface Transforms PLC - Liverpool, UK-based carbon ceramic brake manufacturer - Completes GBP90,000 asset sale agreement with Hong Kong-based lifestyle company CCST Ltd. The agreement includes sale of its trading business, computer systems, intellectual property, contracts, equipment, stocks, records and goodwill of the company, including the right to the use of Surface Transforms name. An additional GBP200,000 sale of the company's Germany-based dynamometer remains under consideration, subject to a six-month expiration window.

This follows the April appointment of Michael Magnay, Joanna Bull and Jonathan Marston of Alvarez & Marsal Europe LLP as joint administrators.

Current stock price: 0.11 peence

12-month change: shares suspended

By John Robaina, Alliance News reporter

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