PDMR Share Dealing & Total Voting Rights

RNS Number : 1341K

Surface Transforms PLC

19 December 2022

 

19 December 2022

Surface Transforms plc

("Surface Transforms" or the "Company")

PDMR Share Dealing and Total Voting Rights

Surface Transforms (AIM: SCE) announces that the Company was notified on 16 December 2022 that Kerry Wood, who is a PDMR, has exercised her rights over 233,333 options in the Company at exercise prices of 13p and 15.25p. Kerry exercised these through a cashless transaction selling 85,114 ordinary shares of 1p each in the Company ("Ordinary Shares") at 39.36p to fund the exercise. Kerry has retained the remaining 148,219 Ordinary Shares and following the transaction is beneficially interested in 544,140 Ordinary Shares representing 0.23% of the Company's issued share capital.

Admission and Total Voting Rights

The new Ordinary Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares of the Company. Application will be made for the 233,333 new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence at 8.00 a.m. on 20 December 2022 ("Admission"). Following Admission, the total number of voting rights in the Company will be 240,613,233 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	[phone]
David Bundred, Chairman
Kevin Johnson, CEO
Michael Cunningham, CFO
Zeus (Nominated Adviser and Joint Broker)	[phone]
David Foreman / Dan Bate / James Edis (Investment Banking)
Dominic King (Corporate Broking)
finnCap Ltd (Joint Broker)	[phone]
Ed Frisby / Abigail Kelly (Corporate Finance)
Andrew Burdis / Barney Hayward (ECM)

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

The information set out below is provided in accordance with the requirements of Article 19 of the Market Abuse Regulation.

Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities ("PDMR") and persons closely associated with them ("PCA")
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Mrs Kerry Wood
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	Purchase of shares
c.	Price(s) and volume(s) -  Transaction 1 (Purchase) -  Transaction 2 (Purchase) -  Transaction 3 (Sale)	Price(s) Volume(s) 13p 100,000 15.25p 133,333 39.36p 85,114
d.	Aggregated information -  Transaction 1 (purchase) -  Transaction 2 (Purchase) -  Transaction 3 (Sale)	Price(s) Aggregated volume(s) Aggregated Total 13p p 100,000 £13,000.00 15.25p 133,333 £20,333.28 39.36p 85,114 £33,500.87
e.	Date of the transaction	16/12/2022
f.	Place of the transaction	London Stock Exchange

 

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