Director dealing and total voting rights

RNS Number : 1424X

Surface Transforms PLC

24 April 2023

 

24 April 2023

Surface Transforms plc

("Surface Transforms" or the "Company")

PDMR Dealing and Total Voting Rights

Surface Transforms (AIM: SCE) announces that the Company was notified on 21 April 2023 that Chief Financial Officer, Michael Cunningham has exercised his rights over 990,000 options in the Company at an exercise price of 15.25p. In order to assist funding a house move, Mr Cunningham then sold 917,168 ordinary shares of 1p each in the Company ("Ordinary Shares") at an average price of 32.98p. Following these transactions, Mr Cunningham has a beneficial interest in 242,832 Ordinary Shares.

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 990,000 new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence at 8.00 a.m. on 28 April 2023. Following Admission, the total number of voting rights in the Company will be 241,603,233 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, Chairm an
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	Mr Michael Cunningham
2	Reason for notification
a.	Position/Status	Chief Financial Officer
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 (Sale)	Price(s) Volume(s) 15.25p 990,000 32.98p 917,168
d.	Aggregated information -    Transaction 1 (purchase) -    Transaction 2 (Sale)	Price(s) Aggregated volume(s) Aggregated Total 15.25p 990,000 £150,975.00 32.98p 917,168 £302,470.08
e.	Date of the transaction	21/04/2023
f.	Place of the transaction	London Stock Exchange

 

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