REG - Surface Transforms - Directorate Change

Surface TransformsAnnouncement

06/11/2024 07:00

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RNS Number : 0789L  Surface Transforms PLC  06 November 2024

6 November 2024

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 Andrew Kitchingman, non-executive
chairman, has resigned with immediate effect. Ian Cleminson will become
chairman on an interim basis until a successor has been appointed.

 

Ian Cleminson, Interim Chairman commented:

 

"Andrew's time with the Company was unfortunately brief and we wish him well
in his future endeavours. While short term business priorities are focused on
operational improvements and tight management of cash, we are reviewing
strategic opportunities to bring longer term financial stability to the
Company."

For enquiries, please contact:

 Surface Transforms plc                              +44 151 356 2141
 Ian Cleminson, Interim Chairman
 Zeus (Nominated Adviser and Joint Broker)           +44 203 829 5000
 David Foreman / James Edis (Investment Banking)
 Dominic King (Corporate Broking)

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)

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