Last checked at 20 Oct 2022 08:01
20 October 2022
Surface Transforms plc
("Surface Transforms" or the "Company")
Director Dealing
Surface Transforms (AIM:SCE), manufacturers of carbon fibre reinforced ceramic automotive brake discs pursuant to the Placing and Subscription, as described in the announcement dated 29 September 2022, David Bundred, Non-Executive Chairman, and Matthew Taylor, Julia Woodhouse and Ian Cleminson, each a Non-Executive Director, subscribed in aggregate for 600,000 Ordinary Shares at the issue price of 40 pence per Ordinary Share, that were admitted to trading on AIM today.
Following the Subscription, each Director is beneficially interested in the following Ordinary Shares:
Director | Shares subscribed for | Beneficial interest in Ordinary Shares | % of issued share capital |
David Bundred | 37,500 | 1,397,525 | 0.58% |
Matthew Taylor | 375,000 | 430,000 | 0.18% |
Julia Woodhouse | 125,000 | 125,000 | 0.05% |
Ian Cleminson | 62,500 | 164,553 | 0.07% |
The capitalised terms used in this announcement have the same meanings as defined in the Circular issued by the Company on 29 September 2022, unless otherwise stated.
For further information, please contact: |
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Surface Transforms plc | +44 151 356 2141 | ||
David Bundred, Chairman | |||
Kevin Johnson, CEO | |||
Michael Cunningham, CFO | |||
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Zeus (Nominated Adviser and Joint Broker) | +44 203 829 5000 | ||
David Foreman / Dan Bate / James Edis (Investment Banking) | |||
Dominic King (Corporate Broking) | |||
finnCap Ltd (Joint Broker) | +44 20 7220 0500 | ||
Ed Frisby / Abigail Kelly (Corporate Finance) | |||
Richard Chambers / Barney Hayward (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
The information set out below is provided in accordance with the requirements of Article 19 of the Market Abuse Regulation
Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities ("PDMR") and persons closely associated with them ("PCA")
1 | Details of the person discharging managerial responsibilities / person closely associated
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a) | Name | i) David Bundred
ii) Matthew Taylor
iii) Julia Woodhouse
iv) Ian Cleminson
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2 | Reason for the notification
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a) | Position/status
| i) Non-Executive Chairman ii) Non-Executive Director iii) Non-Executive Director iv) Non-Executive Director | ||||||||||||||||||||
b)
| Initial notification /Amendment | Initial notification
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| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a) | Name | Surface Transforms plc
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b) | LEI | 213800GQHNJPE5O8XO79 | ||||||||||||||||||||
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| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
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a)
| Description of the financial instrument, type of instrument
Identification code | Ordinary Shares of £0.01 each
ISIN: GB0002892528
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b) | Nature of the transaction | (i) Purchase of 37,500 Ordinary Shares by David Bundred. (ii) Purchase of 375,000 Ordinary Shares by Matthew Taylor. (iii) Purchase of 125,000 Ordinary Shares by Julia Woodhouse. (iv) Purchase of 62,500 Ordinary Shares by Ian Cleminson.
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c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price | N/A
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e) | Date of the transaction | 29 September 2022
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f) | Place of the transaction | London Stock Exchange, AIM
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