Surface Transforms Regulatory News (SCE)

Hardman & Co Research: Everything has come together

In January, Surface Transforms (SCE) secured a £20.0m fund raise, including a £2.0m Open Offer, to support expansion. The bulk of the proceeds are for capital expenditure, supporting well-advanced order enquiries in hand - from existing and new clients. 2020 saw several contract wins, including a new OEM 8. As a direct consequence, we previously doubled our 2022 sales estimates. We are not raising forward estimates until further orders are signed. To be winning such orders shows that these exacting clients embrace SCE's product, its robust supply chain and manufacturing capability.

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About Hardman & Co: For the past 25 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

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