Last checked at 18 Feb 2021 15:15
Correction: The Exercise of Options announcement published earlier today (RNS number 5647P) included an incorrect date of Admission in the description. This should have read 24 February 2021 and is corrected below. All other details of the announcement remain the same.
Surface Transforms plc
("Surface Transforms" or the "Company")
Exercise of Options
Surface Transforms (AIM: SCE) announces that the Company was notified on 16 February 2021 that an employee, who is not a PDMR, has exercised options over a total of 20,000 ordinary shares of 1p each in the Company ("Ordinary Shares"). The shares were exercised at a price of 13p per Ordinary Share.
Admission and Total Voting Rights
The new Ordinary Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares of the Company. Application will be made for the 20,000 new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence at 8.00 a.m. on 24 February 2021. Following Admission, the total number of voting rights in the Company will be 195,038,319 and shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
For enquiries, please contact:
Surface Transforms plc. +44 151 356 2141
David Bundred, Chairman
Kevin Johnson, CEO
Michael Cunningham CFO
Zeus Capital Limited (Nominated Advisor and Joint Broker) +44 203 829 5000
David Foreman / Dan Bate/ Jordan Warburton (Corporate Finance)
Dominic King (Corporate Broking)
finnCap Ltd (Joint-Broker) +44 20 7220 0500
Ed Frisby / Giles Rolls (Corporate Finance)Richard Chambers (ECM)
About Surface Transforms
Surface Transforms plc. (AIM:SCE) develop and produce carbon‐ceramic material automotive brake discs. The Company is the UK's only manufacturer of carbon‐ceramic brake discs, and only one of two mainstream carbon ceramic brake disc companies in the world, serving customers that include major OEMs in the global automotive markets.
The Company utilises its proprietary next generation Carbon Ceramic Technology to create lightweight brake discs for high‐performance road and track applications for both internal combustion engine and electric vehicles. While competitor carbon‐ceramic brake discs use discontinuous chopped carbon fibre, Surface Transforms interweaves continuous carbon fibre to form a 3D matrix, producing a stronger and more durable product with improved heat conductivity compared to competitor products; this reduces the brake system operating temperature, resulting in lighter and longer life components with superior brake performance. These benefits are in addition to the benefits of all carbon‐ceramic brake discs vs. iron brake discs: weight savings of up to 70%, longer product life, consistent performance, reduced brake pad dust and corrosion free.
For additional information please visit www.surfacetransforms.com