Surface Transforms PLC Grant of Options (7054C)
21 Ottobre 2020 - 08:00AM
UK Regulatory
TIDMSCE
RNS Number : 7054C
Surface Transforms PLC
21 October 2020
.
Surface Transforms plc
("Surface Transforms" or the "Company")
Grant of Options
Surface Transforms plc (AIM: SCE) announces that it has granted
options over 180,000 new ordinary shares of 1 pence each in the
Company ("Ordinary Shares") under its existing share option scheme
(the "Options") to a number of employees, none of whom are
PDMR's.
The Options are exercisable at a price of 46.0 pence per share
being the closing share price on 19 October 2020.
The vesting of the Options for all employees is conditional on
the continued employment of the option holder. For managers there
are also the following financial and non-financial performance
conditions. The Options will vest in one-third tranches upon
meeting confidential internal financial criteria, the Company
achieving an agreed (but commercially confidential) target cost for
the manufacture of a carbon ceramic disc and generating revenue in
a financial year of not less than GBP5m sales.
For all employees below manager level, the Options will vest in
two years, subject to their continued employment.
For enquiries, please contact:
Surface Transforms plc +44 151 356 2141
Kevin Johnson, CEO
Michael Cunningham, CFO
David Bundred, Chairman
Zeus Capital Limited (Nominated Advisor and
Joint Broker) +44 203 829 5000
David Foreman / Dan Bate / Jordan Warburton
(Corporate Finance)
Dominic King (Corporate Broking)
finnCap Ltd (Joint Broker) +44 20 7220 0500
Ed Frisby / Giles Rolls (Corporate Finance)
Richard Chambers (ECM)
For further Company details, visit www.surfacetransforms.com
.
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END
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