Issue of Options

RNS Number : 0291W

Surface Transforms PLC

23 January 2012

 



Surface Transforms plc

("Surface Transforms" or the "Company")

Issue of Options

Surface Transforms plc (AIM: SCE), manufacturer of carbon fibre reinforced ceramic materials, announces it granted options over 300,000 ordinary shares of the Company ("Options") to David Bundred, Chairman, following Remuneration Committee and Board approval on 14 October 2011. 

The Options have been approved with an exercise price of 8.83 pence, being the weighted average closing price 3 days after grant on 17 October 2011 of his appointment as Chairman of the Company. 

The Options vest equally over the three year period: 100,000 immediately, 100,000 vest subject to certain conditions on 14 October 2012 and the final 100,000 vest subject to certain conditions on 14 October, 2013.  The Options are exercisable, once vested, until 14 October 2021.

The delay in announcement is the result of an administrative oversight at the Company.

- Ends -

Enquiries:

Surface Transforms Plc
Dr. Kevin Johnson, CEO	[phone]
David Bundred, Chairman	[phone]
Seymour Pierce Ltd	[phone]
Guy Peters / David Foreman (Corporate Finance)
Paul Jewell (Corporate Broking)

Notes to Editors:

About Surface Transforms

Surface Transforms plc is the UK's leading manufacturer of `next-generation' carbon fibre reinforced ceramic composite materials (CRFCs). It is one of two global manufacturers of carbon ceramic brake discs and the Company's high-performance products are being commercialised with major industry partners, for an expanding range of innovative global applications in automobile brakes, aircraft brakes and rocket components.

 

END

 

 

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