Surface Transforms - Share Incentive Plan – Allocation of Share

Surface Transforms

01/05/2025 07:00

RNS Number : 9259G

Surface Transforms PLC

01 May 2025

 

Surface Transforms plc

("Surface Transforms" or "the Company")

Share Incentive Plan - Allocation of Ordinary Shares

 

Surface Transforms (AIM:SCE), manufacturers of carbon fibre reinforced ceramic automotive brake discs, announces the allocation of 21,462,860 ordinary shares of 1p each in the Company ("Ordinary Shares") (the "SIP Shares"), pursuant to the Company's Share Incentive Plan (the "SIP").

The SIP was established to incentivise employees through the acquisition (or issue) of Ordinary Shares, with individual contributions ranging between £10 and £150 per month, together with a discretionary award of bonus shares (known as Matching Shares in the SIP Agreement) up to a 2:1 basis with the paid-for Ordinary Shares.

This is the first award under the SIP, which was approved by shareholders at the Company's AGM on 27 June 2023. The paid-for SIP Shares and discretionary award of matching Ordinary Shares, on a 1:1 basis have been acquired at an average price of 0.3206 pence per Ordinary Share. Accordingly, employees paid in aggregate £34,405 which was matched by the Company with respect to the discretionary award.

The SIP Shares have been allocated to 37 participating employees, including the following individuals, who are Persons Discharging Managerial Responsibilities ("PDMRs"):

Name
Position
Number of SIP Shares
Total Shareholding post issue of SIP Shares
Total Shareholding as a % of issued share capital
Kevin Johnson
CEO
1,122,894
4,764,202
0.37
Isabelle Maddock
CFO
748,596
1,212,359
0.09
Stephen Easton
COO
748,596
2,248,596
0.17

 

Further information is set out in the PDMR Dealing table at the end of this announcement.

Following this announcement, the Board confirms it has launched the second accumulation period under the SIP.

Total voting rights

Following the allocation of the SIP Shares, the total number of voting rights in the Company remains unchanged at 1,302,072,638. 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.

 

For enquiries, please contact:

Surface Transforms plc
+44 151 356 2141
Ian Cleminson, Interim Chairman
Kevin Johnson CEO
Zeus (Nominated Adviser and Broker)
+44 203 829 5000
David Foreman / James Edis (Investment Banking)
Dominic King (Corporate Broking)


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

 

Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities ("PDMR") and persons closely associated with them ("PCA")

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
1) Kevin Johnson
2) Isabelle Maddock
3) Stephen Easton
2
Reason for notification
a.
Position/Status
1) CEO
2) Director
3) COO
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
213800GQHNJPE5O8XO79
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
Ordinary Shares of 1p each
ISIN: GB0002892528
b.
Nature of the transaction
Allocation of shares under Surface Transforms plc's 2024 Share Incentive Plan
c.
Price(s) and volume(s)
Transaction
Price(s)
Volume(s)
1) Kevin Johnson
0.3206p
1,122,894
2) Isabelle Maddock
0.3206p
748,596
3) Stephen Easton
0.3206p
2,248,596
d.
Aggregated information
Transaction
Price(s)
Aggregated volume(s)
Aggregated Total
Same as 4 (c )
e.
Date of the transaction
29 April 2025
f.
Place of the transaction
London

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 
  END

 

 
DSHIMMRTMTBJBMA