Exercise of options

RNS Number : 3876W

Surface Transforms PLC

17 August 2022

 

17 August 2022

Surface Transforms plc

("Surface Transforms" or the "Company")

Exercise of Options

Surface Transforms (AIM: SCE) announces that several employees of the Company, none of whom are PDMRs, have exercised options over a total of 100,000 ordinary shares of 1p each in the Company ("Ordinary Shares"). The options were exercised at an average of 14.55p per Ordinary Share.

The new Ordinary Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares. Application will be made for the 100,000 new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence at 8.00 a.m. on 23 August 2022. Following Admission, the total number of voting rights in the Company will be 195,356,161 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 (Nominated Advisor 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) Richard Chambers / Barney Hayward (ECM)

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

 

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