Surface Transforms Regulatory News (SCE)

19 Oct 2006 11:30

19 October 2006 SURFACE TRANSFORMS PLC ('the Company') AGM Statement At the Annual General Meeting of the Company, to be held at 11:30 a.m today,the Chairman will welcome Mr. Ken Baker, OBE to the board and he will make thefollowing statement:"The Company, having completed the initial development, has begun theinstallation of its carbon densification process, CVIST, to reduce the processtimes and lower the manufacturing costs associated with the production of acarbon ceramic brake disc. The installation is expected to be completed by theend of the financial year and the value of the capital expenditure will beapproximately ‚£250,000 before the application of grants. The net cost of theexpenditure, after grants are applied, is estimated to be ‚£155,000.The contract to supply brake discs to Koenigsegg Automotive, manufacturer ofCCX, the 860 hp Swedish supercar which holds the record as Europe's fastestproduction car, is making satisfactory progress and deliveries since thebeginning of this financial year are running at approximately 2 car sets permonth. These brake discs are installed on the CCX as a factory fitted option.Work continues with three UK automotive OEMs who build high performance carsand recently an initial, small order was received from a US brake systemsupplier for a carbon ceramic brake set which will be on test and display atthe SEMA Convention in Las Vegas later this month."For a further summary report of questions and answers at the AGM:Visit www.surface-transforms.comClick on Armshare and then on Company Review.For enquiries please contact:Telephone:Surface Transforms Plc 0151 472 3733Kevin Johnson, Managing DirectorJohn East & Partners Limited (Nomad) 020 7628 2200Johnny TownsendSimon ClementsTeather & Greenwood Limited (Broker) 020 7426 9000Sindre OttesenENDSURFACE TRANSFORMS PLC