REG - Surface Transforms - Result of General Meeting & Total Voting Rights

Surface TransformsAnnouncement

19/10/2022 12:30

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RNS Number : 4376D  Surface Transforms PLC  19 October 2022

19 October 2022

 

Surface Transforms plc

("Surface Transforms" or the "Company")

 

Result of General Meeting and

Total Voting Rights

 

Surface Transforms (AIM: SCE), manufacturers of carbon fibre reinforced
ceramic automotive brake discs, announces that, at its General Meeting held
earlier today, all Resolutions were duly passed.

 

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

     Resolution                                                                    Votes For   % For  Votes Against  % Against  Votes Withheld
 1.  To increase the limit of the maximum number of shares the Company may issue   90,302,156  99.9%  83,372         0.1%       18,413
 2.  To authorise the Directors to allot relevant securities for the Fundraising   90,293,113  99.9%  92,415         0.1%       18,413
 3.  To authorise the Directors to issue Ordinary Shares for cash other than on a  90,290,945  99.9%  81,020         0.1%       31,976
     pre-emptive basis*

 * 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 17 October 2022 was 195,356,161
with no shares in treasury.

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

Following the approval of the Resolutions, the Placing and Subscription to
raise in aggregate £16.0 million (before expenses) for the Company, and the
Open Offer to raise c.£2.0 million (before expenses) for the Company, each as
described in more detail in the announcement made by the Company on 28
September 2022, remain conditional on Admission.

Application has also been made for 44,963,739 new Ordinary Shares pursuant to
the Placing, Subscription and Open Offer, to be admitted to trading on AIM,
with dealings expected to commence at 8.00 a.m. on 20 October 2022.

Total Voting Rights

Following Admission, the total number of voting rights in the Company will be
240,319,900. 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.

The capitalised terms used in this announcement have the same meanings as in
the Circular, unless otherwise stated.

 

 For further information, 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)
 Richard Chambers / 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

 

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