REG - Surface Transforms - Grant of Options <Origin Href="QuoteRef">SCEU.L</Origin>

Surface TransformsAnnouncement

20/09/2017 09:36

RNS Number : 2697R
Surface Transforms PLC
20 September 2017
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. 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")
Grant of Options
Surface Transforms plc (AIM: SCE) announces that it has granted options over 990,000 new ordinary shares of 1 pence each in the Company ("Ordinary Shares") under its existing share option scheme (the "Options"). The Options have been granted as follows:
Name
Position
No. of Options granted



Kevin Johnson
Chief Executive Officer
990,000
The Options are exercisable at a price of 15.875 pence per share being the closing share price on 19 September 2017 and vest against achievement of the performance criteria described below no earlier than 19 September 2020. The Options expire on the tenth anniversary of the date of grant. 
The vesting of the Options is conditional on the continued employment of the option holder as well as the satisfaction of certain financial and non-financial performance conditions. The Options will vest in one-third tranches upon the Company being awarded a contract on a track car from a mainstream volume OEM, being awarded a contract for a volume road car from a mainstream volume OEM and/or generating revenue in a financial year of not less than 5 million.
Details of the director's resultant holdings of Ordinary Shares and options over Ordinary Shares are as follows:
Name
Total No. of Options
No. of Existing Ordinary Shares



Kevin Johnson
3,055,707
124,000
For enquiries, please contact:
Surface Transforms plc

Kevin Johnson, CEO
+44 151 356 2141 
David Bundred, Chairman
+44 7785 388 848
Cantor Fitzgerald Europe (Nomad & Joint-Broker)
+44 20 7894 7000
David Foreman, Callum Butterfield (Corporate Finance)
Alex Pollen (Sales)



FinnCap Ltd (Joint-Broker)
+44 20 7220 0500
Stephen Norcross / Nikita Jain (Corporate Broking)
Ed Frisby / Giles Rolls (Corporate Finance)

For further Company details, visit www.surfacetransforms.com. 
The notification below, made in accordance with the requirements of the EU Market Abuse Regulations, provides further detail in respect of the transaction as described above.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1
Details of the person discharging managerial responsibilities/person closely associated
a.
Name
Kevin Johnson
2
Reason for notification
a.
Position/Status
PDMR
Chief Executive Officer
b.
Initial notification/
Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.
Name
Surface Transforms plc
b.
LEI
N/A
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.
Description of the financial instrument, type of instrument

Identification Code
Options over ordinary shares of 1p each

ISIN:GB0002892528
b.
Nature of the transaction
Grant of options over 990,000 ordinary shares of 1 pence
c.
Price(s) and volume(s)
Price(s)
Volume(s)
Not applicable
990,000
d.
Aggregated information
Not applicable
e.
Date of the transaction
20 September 2017
f.
Place of the transaction
London Stock Exchange

This information is provided by RNS
The company news service from the London Stock Exchange
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