Grant of Options

RNS Number : 9091A

Surface Transforms PLC

04 January 2018

 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Surface Transforms plc

("Surface Transforms" or the "Company")

Grant of Options

Surface Transforms plc (AIM: SCE) announces that it has granted options over 2,965,000 new ordinary shares of 1 pence each in the Company ("Ordinary Shares") under its existing share option scheme (the "Options") to a director, 5 executives being "people with direct management responsibility" (PDMR) and 22 employees.  The Options for the director and PDMRs have been granted as follows:

Director or PDMR		Position		Number of options granted		Total options held following this grant
David Bundred		Chairman		450,000		1,000,000
Michael Cunningham		Finance Director		990,000		990,000
Geoff Whitfield		Engineering Manager		215,000		500,180
Des Farrell		Operations Manager		300,000		500,000
Michael Sinai		European Sales Manager		250,000		350,000
Kerry Wood		Quality Manager		200,000		200,000

The Options are exercisable at a price of 15.25 pence per share being the closing share price on 3 January 2018

The vesting of the Options for the director and PDMRs is conditional on the continued employment of the option holder as well as the satisfaction of certain financial and non-financial performance conditions. The Options will vest in one-third tranches upon the Company being awarded a contract on a track car from a mainstream volume OEM, being awarded a contract for a volume road car from a mainstream volume OEM and/or generating revenue in a financial year of not less than £5 million.

The vesting of the options for the 22 employees are over three years for middle managers or after six months satisfactory service for junior employess, both are dependent on continung employment of the option holder

Details of the director's resultant holdings of Ordinary Shares and options over Ordinary Shares are as follows:

Name	Total No. of Options	No. of Existing Ordinary Shares
David Bundred	1,000,000	894,641

For enquiries, please contact:

Surface Transforms plc
Kevin Johnson, CEO	[phone]
David Bundred, Chairman	[phone]
Cantor Fitzgerald Europe (Nomad & Joint-Broker)	[phone]
David Foreman, Callum Butterfield (Corporate Finance) Alex Pollen (Sales)
FinnCap Ltd (Joint-Broker)	[phone]
Stephen Norcross / Nikita Jain (Corporate Broking) Ed Frisby / Giles Rolls (Corporate Finance)

For further Company details, visit www.surfacetransforms.com.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transaction as described above.

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	David Bundred
2	Reason for notification
a.	Position/Status	PDMR Chairman
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
4	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	Options over ordinary shares of 1p each ISIN: GB0002892528
b.	Nature of the transaction	Grant of options over 450,000 ordinary shares of 1 pence
c.	Price(s) and volume(s)	Price(s) Volume(s) Not applicable 450,000
d.	Aggregated information	Not applicable
e.	Date of the transaction	3 January 2018
f.	Place of the transaction	London Stock Exchange

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	Michael Cunningham
2	Reason for notification
a.	Position/Status	PDMR Finance Director
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
4	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	Options over ordinary shares of 1p each ISIN: GB0002892528
b.	Nature of the transaction	Grant of options over 990,000 ordinary shares of 1 pence
c.	Price(s) and volume(s)	Price(s) Volume(s) Not applicable 990,000
d.	Aggregated information	Not applicable
e.	Date of the transaction	3 January 2018
f.	Place of the transaction	London Stock Exchange

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	Geoffrey Whitfield
2	Reason for notification
a.	Position/Status	PDMR Engineering Manager
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
4	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	Options over ordinary shares of 1p each ISIN: GB0002892528
b.	Nature of the transaction	Grant of options over 215,000 ordinary shares of 1 pence
c.	Price(s) and volume(s)	Price(s) Volume(s) Not applicable 215,000
d.	Aggregated information	Not applicable
e.	Date of the transaction	3 January 2018
f.	Place of the transaction	London Stock Exchange
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	Desmond Farrell
2	Reason for notification
a.	Position/Status	PDMR Operations Manager
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
4	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	Options over ordinary shares of 1p each ISIN: GB0002892528
b.	Nature of the transaction	Grant of options over 300,000 ordinary shares of 1 pence
c.	Price(s) and volume(s)	Price(s) Volume(s) Not applicable 300,000
d.	Aggregated information	Not applicable
e.	Date of the transaction	3 January 2018
f.	Place of the transaction	London Stock Exchange

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	Michael Sinai
2	Reason for notification
a.	Position/Status	PDMR European Sales Manager
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
4	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	Options over ordinary shares of 1p each ISIN: GB0002892528
b.	Nature of the transaction	Grant of options over 250,000 ordinary shares of 1 pence
c.	Price(s) and volume(s)	Price(s) Volume(s) Not applicable 250,000
d.	Aggregated information	Not applicable
e.	Date of the transaction	3 January 2018
f.	Place of the transaction	London Stock Exchange

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	Kerry Wood
2	Reason for notification
a.	Position/Status	PDMR Quality Manager
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
4	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	Options over ordinary shares of 1p each ISIN: GB0002892528
b.	Nature of the transaction	Grant of options 200,000 ordinary shares of 1 pence
c.	Price(s) and volume(s)	Price(s) Volume(s) Not applicable 200,000
d.	Aggregated information	Not applicable
e.	Date of the transaction	3 January 2018
f.	Place of the transaction	London Stock Exchange

 

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