Successful Placing to Raise £350,000

RNS Number : 3402K

Surface Transforms PLC

16 April 2015

 

16 April 2015

Surface Transforms plc

("Surface Transforms" or the "Company")

Successful Placing to Raise £350,000

Surface Transforms (AIM: SCE) is pleased to announce the placing of 2,692,309 ordinary shares of 1 pence each in the Company ("Ordinary Shares") at a placing price of 13.0 pence per share to raise £350,000 (the "Placing").  The net proceeds of the Placing are approximately £335,000.

On 18 November 2014, the Board of Surface Transforms announced its intention to raise up to £1.5 million pursuant to a placing and open offer and on 12 December confirmed that it had raised in aggregate £1.07 million. This Placing, undertaken at the same price as the previous placing and open offer, increases the aggregate gross proceeds to £1.42 million.

Application has been made for the 2,692,309 new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence at 8.00am on 21 April 2015 ("Admission").

The new Ordinary Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares of the Company.  Following Admission, the total number of voting rights in the Company will be 53,181,081 Ordinary Shares. This number may be used by shareholders 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 and Transparency Rules.

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Enquiries:

Surface Transforms plc

Dr. Kevin Johnson, CEO	[phone]
David Bundred, Chairman	[phone]

Cantor Fitzgerald Europe (Nomad and Broker)

David Foreman, Michael Reynolds (Corporate Finance)	[phone]
David Banks, Tessa Sillars (Corporate Broking)	[phone]

Hardman & Co

Keith Hiscock, Richard Angus, Andrew Edwards

[phone]

 

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