REG - Surface Transforms - Holding(s) in Company

Surface TransformsAnnouncement

19/12/2023 09:45

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RNS Number : 2985X  Surface Transforms PLC  19 December 2023

 

19 December 2023

 

Surface Transforms plc

("Surface Transforms" or "the Company")

 

Change in Shareholding

 

Surface Transforms plc (AIM:SCE) announces that it was informed on 15
 December that Group 14 Ltd had on the same day, sold its entire shareholding
in Surface Transforms, being 11,470,628 ordinary shares of £0.01 in the
Company ("Shares") to Craven Combie Ltd.

 

Group 14 Ltd is controlled by a former director of the Company, Mr Richard
Gledhill. Craven Combie Ltd is controlled by members of Mr Gledhill's family
whom are not deemed closely associated persons, and Mr Gledhill has no
ownership of, nor control in, Craven Combie Ltd.

 

As a result of the sale, Craven Crombie Ltd owns 3.26% of the total Shares in
issue as at the date of this announcement. Mr Gledhill and his wife continue
to hold 3,542,718 shares in a personal capacity, being 1.01% of the total
Shares in issue as at the date of this announcement.

 

David Bundred (Chairman) said: "Richard has been a long term supporter of the
Company and has been planning this sale of his shareholding to family members
for some time. I want to repeat our thanks to Richard that we made when he
retired from the Board. His contribution, both as a director and shareholder,
have been of inestimable value. We look forward to working with the next
 generation of his family."

For enquiries, please contact:

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

 Isabelle Maddock CFO
 Zeus (Nominated Adviser and Joint Broker)                        +44 203 829 5000
 David Foreman / Dan Bate / James Edis (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)

 

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