Surface Transforms PLC Director dealing and total voting rights (1424X)
24 Aprile 2023 - 8:00AM
UK Regulatory
TIDMSCE
RNS Number : 1424X
Surface Transforms PLC
24 April 2023
24 April 2023
Surface Transforms plc
("Surface Transforms" or the "Company")
PDMR Dealing and Total Voting Rights
Surface Transforms (AIM: SCE) announces that the Company was
notified on 21 April 2023 that Chief Financial Officer, Michael
Cunningham has exercised his rights over 990,000 options in the
Company at an exercise price of 15.25p. In order to assist funding
a house move, Mr Cunningham then sold 917,168 ordinary shares of 1p
each in the Company ("Ordinary Shares") at an average price of
32.98p. Following these transactions, Mr Cunningham has a
beneficial interest in 242,832 Ordinary Shares.
Admission and Total Voting Rights
The new Ordinary Shares will, when issued, rank pari passu in
all respects with the existing Ordinary Shares of the Company.
Application will be made for the 990,000 new Ordinary Shares to be
admitted to trading on AIM and dealings are expected to commence at
8.00 a.m. on 28 April 2023. Following Admission, the total number
of voting rights in the Company will be 241,603,233 and
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
David Bundred, Chairm an
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)
Andrew Burdis / 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
The information set out below is provided in accordance with the
requirements of Article 19 of the Market Abuse Regulation.
Notification and public disclosure of transactions by Persons
Discharging Managerial Responsibilities ("PDMR") and persons closely
associated with them ("PCA")
1 Details of the person discharging managerial responsibilities/person
closely associated
--- ---------------------------------------------------------------------------------
a. Name Mr Michael Cunningham
-------------------------------------------
2 Reason for notification
------------------------------------ -------------------------------------------
a. Position/Status Chief Financial Officer
------------------------------------ -------------------------------------------
b. Initial notification/ Initial Notification
Amendment
------------------------------------ -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------
a. Name Surface Transforms plc
------------------------------------
b. LEI 213800GQHNJPE5O8XO79
------------------------------------ -------------------------------------------
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 Ordinary Shares of 1p each
the financial
instrument, type
of instrument ISIN: GB0002892528
Identification
Code
------------------------------------ -------------------------------------------
b. Nature of the Purchase of shares
transaction
------------------------------------ -------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) 15.25p 990,000
* Transaction 1 (Purchase) ----------
32.98p 917,168
----------
- Transaction
2 (Sale)
------------------------------------ -------------------------------------------
d. Aggregated information Price(s) Aggregated Aggregated Total
volume(s)
15.25p 990,000 GBP150,975.00
* Transaction 1 ----------- -----------------
32.98p 917,168 GBP302,470.08
(purchase)
* Transaction 2 (Sale)
------------------------------------ -------------------------------------------
e. Date of the transaction 21/04/2023
------------------------------------ -------------------------------------------
f. Place of the London Stock Exchange
transaction
------------------------------------ -------------------------------------------
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END
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