REG - Surface Transforms - Update on Intention to Appoint Administrators

Surface TransformsAnnouncement

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RNS Number : 1396Y  Surface Transforms PLC  25 March 2026

THE INFORMATION COMMUNICATED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE
INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO.
596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH THE
COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.

 

Surface Transforms plc

("Surface Transforms" or the "Company")

 

Update on notice of intention to appoint administrators

Surface Transforms (AIM: SCE) manufacturers of carbon fibre reinforced
ceramic automotive brake discs, provides the following update on its intention
to appoint administrators (the "NOI").

Following the announcement on 12 March 2026, the Company confirms that a
second NOI has today been filed at the High Court to appoint Michael Magnay,
Jonathan Marston, and Joanna Bull of Alvarez & Marsal Europe LLP ("Alvarez
& Marsal") as Joint Administrators. The NOI protects the Company against
any creditor enforcement action for a further period of 10 working days.

This filing follows the Company launching a strategic review and formal sale
process, announced on 20 March 2026. The Company is continuing to work
alongside Alvarez & Marsal to explore all options and is engaged in
discussions with potential interested parties.

Notwithstanding the settled intention of the Board to appoint Joint
Administrators, the second NOI provides time for the Company and Alvarez &
Marsal to progress discussions with the aim of maximising value for all
stakeholders.

Further updates will be provided by the Company in due course.

For enquiries, please contact:

 Surface Transforms plc                                        +44 151 356 2141
 Kevin Johnson, CEO
 Steve Harrison, CFO

 Zeus (Nominated Adviser, Broker, and Rule 3 Adviser)          +44 203 829 5000
 David Foreman / James Edis / Ed Beddows (Investment Banking)
 Dominic King (Corporate Broking)

 Alvarez and Marsal (Financial Adviser)                        INS_SURFTP@alvarezandmarsal.com (mailto:INS_SURFTP@alvarezandmarsal.com)
 Tom Jack / Joe Page

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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