Exercise of options

RNS Number : 1143C

Surface Transforms PLC

18 February 2022

 

18 February 2022

Surface Transforms plc

("Surface Transforms" or the "Company")

Exercise of Options

Surface Transforms (AIM: SCE) announces that the Company was notified on 16 February 2022 that 2 employees, one of whom is a PDMR, had exercised options over a total of 67,842 ordinary shares of 1p each in the Company ("Ordinary Shares"). Specifically, Geoff Whitfield, Engineering Manager, exercised options over 27,842 Ordinary Shares at an exercise price of 11.5p. At the same time, an employee who is not a PDMR, exercised options over a total of 40,000 Ordinary Shares at exercise prices of 15.25p and 14.5p.

Admission and Total Voting Rights

The new Ordinary Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares. Application will be made for the 67,842 new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence at 8.00 a.m. on 24 February 2022. Following Admission, the total number of voting rights in the Company will be 195,256,161 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	[phone]
David Bundred, Chairman Kevin Johnson, CEO  Michael Cunningham CFO
Zeus Capital Limited (Nominated Advisor and Joint Broker)	[phone]
David Foreman / Dan Bate / Jordan Warburton (Corporate Finance) Dominic King (Corporate Broking)
finnCap Ltd (Joint Broker)	[phone]
Ed Frisby / Abigail Kelly (Corporate Finance) Richard Chambers / Barney Hayward (ECM)

For further Company details, visit  www.surfacetransforms.com

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 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

Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities ("PDMR") and persons closely associated with them ("PCA") Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Mr Geoff Whitfield
2	Reason for notification
a.	Position/Status	PDMR
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
	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 instrument Identification Code	Ordinary Shares of 1p each   ISIN: GB0002892528
b.	Nature of the transaction	Exercise of Options
c.	Price(s) and volume(s) -  Transaction 1 (Purchase)	Price(s) Volume(s) 11.5p 27,842
d.	Aggregated information -  Transaction 1 (purchase)	Price(s) Aggregated volume(s) Aggregated Total 11.5p 27,842 £3,201.83
e.	Date of the transaction	16/02/2022
f.	Place of the transaction	London Stock Exchange

 

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