Appointment of new Chief Finance Officer

Surface Transforms PLC

19 June 2023

 

19 June 2023

Surface Transforms plc

("Surface Transforms" or the "Company") 

Appointment of new Chief Finance Officer

Surface Transforms plc (AIM:SCE) manufacturers of carbon fibre reinforced ceramic automotive brake discs, is pleased to announce the appointment of Isabelle Maddock as Chief Financial Officer ("CFO") and an Executive Director of the Board. Isabelle will join the Company on 4 September 2023.

Isabelle joins Surface Transforms from James Cropper plc, where she was CFO for the past nine years. Isabelle has 30 years of experience in finance across a variety of sectors and is a fellow of the Chartered Institute of Management Accountants. During her 17-year tenure at James Cropper plc, an advanced materials and paper products manufacturing group, she held senior financial positions before promotion to their board of directors in 2014.

Isabelle's appointment to Surface Transforms strengthens both the Company's senior management team and the Board as the Company continues to focus on delivering its current expansion plan and financial transformation. This includes converting its £290m (lifetime value) order book into sales and its £393m (lifetime value) prospective contract pipeline into further new orders.

Isabelle Maddock currently holds no shares in the Company. Her directorships, over the past five years, which all relate to James Cropper plc and its subsidiaries are listed below.

Kevin Johnson, CEO of Surface Transforms said "We are delighted to welcome Isabelle to the board of Surface Transforms, her drive and financial leadership along with the strategic, governance and manufacturing experience she brings are well suited to our current and anticipated rapid growth.  We look forward to working with Isabelle as the Company executes its plans." 

Isabelle Maddock said "I am thrilled to be joining Surface Transforms. I have been following the Company's progress for some time and I am very impressed with its environmentally cleaner, lighter, more durable, high performance braking technologies, and strong growth potential. My experience in finance and manufacturing can help Surface Transforms to continue to achieve its goals and I look forward  to working with the rest of the management team and talented workforce to build a successful future."

Isabelle Maddock (aged 55) holds or has held the following directorships or partnerships in the last five years:

Current	Last five years
-	James Cropper plc
	TFP Hydrogen Products Limited
	James Cropper Germany GMBH
	James Cropper Overseas Trading Limited
	James Cropper 3D Products Limited
	Melmore Company Limited
	James Cropper Paper Limited
	Technical Fibre Products Limited
	The Paper Mill Shop Company
	James Cropper Speciality Papers Limited
	James Cropper Converting Limited
	Tech Fibres Inc
	Technical Fibre Products Inc
	Electro Fibre Technologies LLC
	Metal Coated Fibres Inc
	James Cropper (Guangzhou) Trading Co Ltd

Save as disclosed above, there are no further disclosures to be made in accordance with Rule 17 or Schedule 2(g) of the AIM Rules for Companies.

For enquiries, please contact:

Surface Transforms plc David Bundred, Chairman Kevin Johnson, CEO	[phone]
Zeus (Nominated Advisor and Joint Broker) David Foreman / Dan Bate / James Edis (Investment Banking) Dominic King (Corporate Broking)	[phone]
finnCap Ltd (Joint-Broker) Ed Frisby / Abigail Kelly (Corporate Finance) Andrew Burdis / Barney Hayward (ECM)	[phone]

About Surface Transforms

Surface Transforms plc. (AIM:SCE) develops and produces 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 long strand 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

 

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