Last checked at 28 Mar 2019 07:00
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Surface Transforms plc
("Surface Transforms" or the "Company")
Grant of Options
Surface Transforms plc (AIM: SCE) announces that it has granted options over 210,000 new ordinary shares of 1 pence each in the Company ("Ordinary Shares") under its existing share option scheme (the "Options") to an executive, being "a person with with direct management responsibility" (PDMR) as follows:
PDMR | Position | Number of options granted | Total options held following this grant |
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Stephen Harvey | Senior Operations Manager | 210,000 | 210,000 |
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The Options are exercisable at a price of 15.25 pence per share being the closing share price on 25 March 2019
The vesting of the Options is conditional on the continued employment of the option holder as well as the satisfaction of certain financial and non-financial performance conditions. The Options will vest in one-third tranches upon production cell OEM1 being fully operational, the Company achieving an agreed (but commercially confidential) target cost for the manufacture of a carbon ceramic disc and generating revenue in a financial year of not less than £5m sales.
For enquiries, please contact:
Surface Transforms plc +44 151 356 2141
Kevin Johnson, CEO
Michael Cunningham, CFO
David Bundred, Chairman
Cantor Fitgerald Europe (Nomad & Joint Broker) +44 20 7894 7000
David Foreman/ Michael Boot (Corporate Finance)
Caspar Shand Kydd/Gregor Paterson/Maisie Atkinson (Sales)
finnCap Ltd (Joint Broker) +44 20 7220 0500
Ed Frisby/Giles Rolls (Corporate Finance)
Richard Chambers (ECM)
This announcement has been released by Kevin Johnson, Chief Executive Officer, on behalf of the Company.
For further Company details, visit www.surfacetransforms.com.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transaction as described above.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
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1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a. | Name | Stephen Harvey | ||||
2 | Reason for notification |
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a. | Position/Status | PDMR Senior Operations Manager | ||||
b. | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a. | Name | Surface Transforms plc | ||||
b. | LEI | 213800GQHNJPE5O8XO79 | ||||
4 | 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 | |||||
a. | Description of the financial instrument, type of instrumentIdentification Code | Options over ordinary shares of 1p each ISIN: GB0002892528 | ||||
b. | Nature of the transaction | Grant of options over 210,000 ordinary shares of 1 pence | ||||
c. | Price(s) and volume(s)
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d. | Aggregated information
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e. | Date of the transaction | 26 March 2019 | ||||
f. | Place of the transaction | London Stock Exchange | ||||