REG - Surface Transforms - Result of Annual General Meeting

Surface TransformsAnnouncement

27/06/2023 17:15

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RNS Number : 1014E  Surface Transforms PLC  27 June 2023

27 June 2023

Surface Transforms plc

("Surface Transforms" or the "Company")

Result of Annual General Meeting

Surface Transforms (AIM: SCE) is pleased to announce that all resolutions
proposed at its Annual General Meeting ("AGM") held at 10:00 a.m. earlier
today were duly passed by shareholders.

A summary of the votes lodged by proxy at the AGM is set out below:

     Resolution                                                                    Votes For   % Votes For  Votes Against  % Votes Against  Votes Withheld
 1.  Receive the audited accounts of the Company                                   95,537,633  98.64%       1,317,419      1.36%            22,652
 2.  Re-appoint Grant Thornton UK LLP as auditors                                  96,752,549  99.99%       2,303          0.01%            122,852
 3.  Re-elect Dr Kevin Johnson as a Director                                       96,852,749  99.99%       2,303          0.01%            22,652
 4.  Re-elect Matthew Taylor as a Director                                         96,852,749  99.99%       2,303          0.01%            22,652
 5.  Approve the Company's Long Term Incentive Plan (LTIP)*                        95,018,127  98.17%       1,774,125      1.83%            85,452
 6.  Authorise the directors to grant options under the LTIP scheme*               94,993,127  98.14%       1,796,777      1.86%            87,800
 7.  Authorise the establishment of an EBT*                                        96,764,949  99.97%       24,955         0.03%            87,800
 8   Authorise the incorporation of a subsidiary to act as trustee of the EBT*     96,750,290  99.96%       39,614         0.04%            87,800
 9   Approve the Company's Share Incentive Plan (SIP)*                             96,707,993  99.92%       81,911         0.08%            87,800
 10  Authorise the directors to implement and give effect to the SIP*              96,707,993  99.92%       81,911         0.08%            87,800
 11  Authorise the directors to make awards (the SIP Awards)*                      96,707,993  99.92%       81,911         0.08%            87,800
 12  Authorisation for the purpose of section 551 of the Act*                      96,792,927  99.94%       59,477         0.06%            25,300
 13  Authorisation pursuant to section 570 of the Act to allot equity securities*  96,589,903  99.77%       225,101        0.23%            62,700

 

* Special resolution

(1)     Any proxy appointments, which gave discretion to the Chairman have
been included in the 'For' votes total.

(2)     Votes "For" and "Against" any resolution are expressed as a
percentage of votes validly cast for that resolution.

(3)     A "Vote withheld" is not a vote in law and is not counted in the
calculation of the percentage of shares voted "For" or "Against".

(4)     The number of shares in issue on 27 June 2023 was 241,693,233 with
no shares in treasury.

(5)     The full text of the resolutions passed at the AGM can be found in
the Notice of Annual General Meeting which is available on the Company's
website at www.surfacetransforms.com (http://www.surfacetransforms.com) .

 

For enquiries, please contact:

 Surface Transforms plc                                       +44 151 356 2141

 Kevin Johnson, CEO

 David Bundred, Chairman
 Zeus (Nomad & 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) 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 and electric vehicles. While
competitor carbon‐ceramic brake discs use discontinuous chopped carbon
fibre, Surface Transforms interweaves long strand 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

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