REG - Surface Transforms - Director dealing and total voting rights

Surface TransformsAnnouncement

24/04/2023 07:15

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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                            +44 151 356 2141
 David Bundred, Chairman
 Kevin Johnson, CEO
 Michael Cunningham, CFO

 Zeus (Nominated Adviser and Joint Broker)         +44 203 829 5000
 David Foreman / Dan Bate / James Edis (Investment Banking)
 Dominic King (Corporate Broking)

 finnCap Ltd (Joint Broker)                        +44 20 7220 0500
 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
(http://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/                                        Initial Notification

     Amendment
 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  Ordinary Shares of 1p each

Identification Code                                         ISIN: GB0002892528
 b.  Nature of the transaction                                    Purchase of shares

 c.  Price(s) and volume(s)                                       Price(s)  Volume(s)

                                                            15.25p    990,000
     -    Transaction 1 (Purchase)                                32.98p    917,168

     -    Transaction 2 (Sale)

 d.  Aggregated information                                       Price(s)  Aggregated volume(s)  Aggregated Total

                                                            15.25p    990,000               £150,975.00
                                                                  32.98p    917,168               £302,470.08

     -    Transaction 1

     (purchase)

     -    Transaction 2 (Sale)

 e.  Date of the transaction                                      21/04/2023
 f.  Place of the transaction                                     London Stock Exchange

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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