Last checked at 23 May 2023 07:00
Surface Transforms plc
("Surface Transforms" or the "Company")
Exercise of Options and Total Voting Rights
Surface Transforms (AIM: SCE) announces that the Company was notified on 19 May 2023 that an options holder, who is not a PDMR, has exercised rights over 70,000 options in the Company at an exercise price of 15.25p (the "Exercise").
Admission and Total Voting Rights
As a result of the Exercise, the Company will issue 70,000 new ordinary shares of 1p each in the Company ("Ordinary Shares") which will, when issued, rank pari passu in all respects with the existing Ordinary Shares of the Company. Application will be made for the 70,000 new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence at 8.00 a.m. on 26 May 2023 ("Admission"). Following Admission, the total number of voting rights in the Company will be 241,673,233 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 David Bundred, Chairman Kevin Johnson, CEO | +44 151 356 2141 |
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Zeus (Nominated Adviser and Joint Broker) David Foreman / Dan Bate / James Edis (Investment Banking) Dominic King (Corporate Broking) | +44 203 829 5000 |
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finnCap Limited (Joint Broker) Ed Frisby / Abigail Kelly (Corporate Finance) Andrew Burdis / Barney Hayward (ECM) | +44 207 220 0500 |
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