REG - Surface Transforms - Appointment of new non-executive chair

Surface TransformsAnnouncement

16/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240916:nRSP1988Ea&default-theme=true

RNS Number : 1988E  Surface Transforms PLC  16 September 2024

16 September 2024

Surface Transforms plc

("Surface Transforms" or the "Company")

 

Appointment of new non-executive chair

 

Surface Transforms (AIM:SCE), manufacturers of carbon fibre reinforced ceramic
automotive brake discs, is pleased to announce the appointment of Andrew
Kitchingman as non-executive chair, with immediate effect.

 

Andrew is an experienced public company director, including being
non-executive chair of Mpac Group plc since 2016, and also a non-executive
director of Andrew Sykes Group plc and London Security Group plc. Prior to
Andrew's non-executive career, he spent many successful years in corporate
finance, working for both consultancy firms and stockbrokers, including KPMG,
Hill Samuel, Albert E Sharp, Brewin Dolphin and WH Ireland, across a wide
range of business sectors, both public and private. Andrew is also a Fellow of
the Institute of Chartered Accountants in England and Wales.

 

David Bundred will step down as chair and retire from the Board with immediate
effect.

 

Andrew Kitchingman, new chair, said:

 

"I am delighted to be joining Surface Transforms as chair and would like to
thank my predecessor, David Bundred, for his service over the last twelve
years The company has excellent technology and plenty of demand for its
products. The short-term priorities will focus on operational excellence,
efficiency and tight management of working capital."

 

David Bundred, outgoing chair said:

 

"I am pleased to be handing over to such an experienced chair as Andrew whom I
am confident will lead the Company into the next stage of its development to
seize the opportunities for the Company, and our shareholders and employees.

 

 I am proud of the team's performance over the last 12 years in turning a
concept into a product that is so world beating that we have been awarded
contracts of £390m from some of the world's leading automotive OEMs.
Establishing a scaled-up manufacturing process has taken longer than planned.
However capacity has been built and yield continues to improve.

 

This success could not have been achieved without the dedication and effort of
a remarkable team. I want to thank all of you."

 

Additional disclosures required under the AIM Rules for Companies

 

Pursuant to Rule 17 and Schedule Two Paragraph (g) of the AIM Rules for
Companies, Andrew James Kitchingman, age 60, owns no ordinary shares in the
Company and is, or has during the last five years, been a director or partner
of the following companies and partnerships:

 

 Current directorships or partnerships  Previous directorships or partnerships held within the last 5 years

 London Security Group plc              Southworks UK Ltd
 Andrew Sykes Group plc                 MORhomes plc
 Mpac Group plc                         Burton Leonard Opposition Group Ltd
 HC Slingsby plc                        LonPro Holdings Ltd
 ESE Direct Ltd                         Cathedral Choir School Ripon Limited (The)
 British Board of Agrément              Incommunities Group Limited
                                        Northern Aldborough Festival*

 

* Northern Aldborough Festival was converted to a Charitable Incorporated
Organisation in July 2022, and remains active

 

Save as set out in this announcement, Andrew Kitchingman has confirmed that
there are no further disclosures to be made in accordance with paragraph (g)
of Schedule Two to the AIM Rules for Companies.

 

For enquiries, please contact:

 Surface Transforms plc                                           +44 151 356 2141
 Kevin Johnson, CEO

 Isabelle Maddock, CFO
 Zeus (Nominated Adviser and Joint Broker)                        +44 203 829 5000
 David Foreman / James Edis / Ed Beddows (Investment Banking)
 Dominic King (Corporate Broking)
 Cavendish Capital Markets Ltd (Joint Broker)                     +44 20 7220 0500
 Ed Frisby / Abigail Kelly (Corporate Finance)

 Andrew Burdis / Harriet Ward (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 cars 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.

The Company holds the London Stock Exchange's Green Economy Mark.

For additional information please visit www.surfacetransforms.com
(http://www.surfacetransforms.com)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOADZGMLDFVGDZM