REG - Surface Transforms - Directorate Change

Surface TransformsAnnouncement

20/12/2022 07:00

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RNS Number : 2403K  Surface Transforms PLC  20 December 2022

The information contained within this announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018.  Upon the publication of this
announcement via the Regulatory Information Service, this inside information
is now considered to be in the public domain.

 

 

20 December 2022

 

Surface Transforms plc

("Surface Transforms" or "the Company")

 

Directorate Change

 

 

Surface Transforms (AIM:SCE) manufacturers of carbon fibre reinforced ceramic
automotive brake discs, announces that Michael Cunningham, Chief Financial
Officer and Company Secretary will leave the Company at the end of May 2023 to
take up a post in another listed company.

 

Michael will ensure that there is an orderly transition including completion
of the statutory accounts and directors report for the year to December 2022.
The Company has begun the process of searching for a successor.

 

Kevin Johnson (CEO) said: "Michael has been a key member of the team for the
past 5 years and we would like to thank him for his contribution to the
transformation of the Company over that period. We also appreciate his
assistance in ensuring an orderly transition over the next few months and wish
him well in his new endeavour."

 

Michael Cunningham (CFO) said: "I have really enjoyed my time at Surface
Transforms and am glad to be leaving the Company in such a healthy position
with a strong order book, and balance sheet. I'd like to thank the team and
particularly my fellow board members for their help and support whilst I have
been here, and I look forward to following the Company's future successes."

For enquiries, please contact:

 Surface Transforms plc                                            +44 151 356 2141

 David Bundred, Chairman

 Kevin Johnson, CEO

 Michael Cunningham, CFO

 Zeus (Nominated Advisor 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)

 

 

 

 

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