Surface Transforms PLC Result of Excess Open Offer (1279N)
18 Maggio 2020 - 8:00AM
UK Regulatory
TIDMSCE
RNS Number : 1279N
Surface Transforms PLC
18 May 2020
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.
18 May 2020
Surface Transforms plc.
("Surface Transforms " or the "Company ")
Result of Excess Open Offer
Surface Transforms plc, a manufacturer of carbon fibre ceramic
brake discs, (AIM:SCE) is pleased to announce that the excess Open
Offer totaling 5,384,56 Ordinary Shares, as detailed in the
Company's RNS announcement on 4 May 2020, has been fully
subscribed. Subject to the passing of the resolutions at the
General Meeting to be held at 09:00 a.m. on 21 May 2020, the
Company expects the 5,384,616 Ordinary Shares to be admitted to
trading on AIM on 25 May 2020.
David Bundred, Chairman commented:
"This further confirmation of shareholder support during the
current Covid 19 pandemic is greatly appreciated by the Board. It
is particularly pleasing that, on this occasion, we have been able
to provide the opportunity for smaller shareholders to participate,
at scale, in an equity fundraising on the same terms as
institutional shareholders. The total amount raised by the Placing
and extended Open Offer is GBP2.4 million, which significantly
strengths the Company's balance sheet and provide management with
flexibility to fully take advantage of opportunities as they
arise."
For further information, please contact:
Surface Transforms plc.
Kevin Johnson, CEO +44 151 356 2141
David Bundred, Chairman
Michael Cunningham, Finance Director
Cantor Fitzgerald Europe (Nomad & Joint Broker)
David Foreman (Corporate Finance) +44 20 7894 7000
Caspar Shand Kydd (Sales)
finnCap Ltd (Joint Broker)
Richard Chambers (ECM) +44 20 7220 0500
Ed Frisby, Giles Rolls (Corporate Finance)
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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.
END
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