Surface Transforms PLC Grant of Options (4460J)
December 05 2018 - 1:01AM
UK Regulatory
TIDMSCE
RNS Number : 4460J
Surface Transforms PLC
05 December 2018
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 2,585,000 new ordinary shares of 1 pence each in the
Company ("Ordinary Shares") under its existing share option scheme
(the "Options") to a director, 2 executives being "people with
direct management responsibility" (PDMR) and 14 employees. The
Options for the director and PDMRs have been granted as
follows:
Total options
Number of held following
Director Position options granted this grant
Dr Kevin Johnson CEO 1,910,000 4,175,000
PDMR
Geoff Whitfield Engineering Manager 75,000 498,595
Kerry Wood Quality Manager 150,000 350,000
The Options are exercisable at a price of 13 pence per share
being the closing share price on 4 December 2018
The vesting of the Options for the director and PDMRs 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, being
awarded a contract for a volume road car from a mainstream volume
OEM and generating revenue in a financial year of not less than
GBP5 million.
The vesting of the options for the 14 employees are over three
years for middle managers or after six months satisfactory service
for other employees, both are dependent on continung employment of
the option holder.
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
Dr Kevin Johnson 4,175,000 124,000
For enquiries, please contact:
Surface Transforms plc
Kevin Johnson, CEO +44 151 356 2141
Michael Cunningham CFO +44 151 348 8882
David Bundred, Chairman +44 7785 388 848
Cantor Fitzgerald Europe (Nomad & Joint-Broker) +44 20 7894 7000
David Foreman, Richard Salmond, Michael Boot
(Corporate Finance)
Caspar Shand Kydd, Gregor Paterson (Sales)
FinnCap Ltd (Joint-Broker) +44 20 7220 0500
Richard Chambers (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 Dr Kevin Johnson
---------------------------------------------
2 Reason for notification
--------------------------------------- ---------------------------------------------
a. Position/Status PDMR
CEO
--------------------------------------- ---------------------------------------------
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 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 Options over ordinary shares of 1p each
the financial
instrument, type ISIN: GB0002892528
of instrument
Identification
Code
--------------------------------------- ---------------------------------------------
b. Nature of the Grant of options over 1,910,000 ordinary
transaction shares of 1 pence
--------------------------------------- ---------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
Not applicable 1,910,000
--------------
--------------------------------------- ---------------------------------------------
d. Aggregated information Not applicable
--------------------------------------- ---------------------------------------------
e. Date of the transaction 5 December 2018
--------------------------------------- ---------------------------------------------
f. Place of the transaction London Stock Exchange
--------------------------------------- ---------------------------------------------
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 Geoffrey Whitefield
-------------------------------------------------
2 Reason for notification
--------------------------------------- -------------------------------------------------
a. Position/Status PDMR
Engineering Manager
--------------------------------------- -------------------------------------------------
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 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 Options over ordinary shares of 1p each
the financial
instrument, type ISIN: GB0002892528
of instrument
Identification
Code
--------------------------------------- -------------------------------------------------
b. Nature of the Grant of options over 75,000 ordinary shares
transaction of 1 pence
--------------------------------------- -------------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
Not applicable 75,000
--------------
--------------------------------------- -------------------------------------------------
d. Aggregated information Not applicable
--------------------------------------- -------------------------------------------------
e. Date of the transaction 5 December 2018
--------------------------------------- -------------------------------------------------
f. Place of the transaction London Stock Exchange
--------------------------------------- -------------------------------------------------
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 Kerry Wood
-------------------------------------------------
2 Reason for notification
--------------------------------------- -------------------------------------------------
a. Position/Status PDMR
Quality Manager
--------------------------------------- -------------------------------------------------
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 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 Options over ordinary shares of 1p each
the financial
instrument, type ISIN: GB0002892528
of instrument
Identification
Code
--------------------------------------- -------------------------------------------------
b. Nature of the Grant of options 150,000 ordinary shares
transaction of 1 pence
--------------------------------------- -------------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
Not applicable 150,000
--------------
--------------------------------------- -------------------------------------------------
d. Aggregated information Not applicable
--------------------------------------- -------------------------------------------------
e. Date of the transaction 5 December 2018
--------------------------------------- -------------------------------------------------
f. Place of the transaction London Stock Exchange
--------------------------------------- -------------------------------------------------
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.
END
DSHDZLFBVLFZFBL
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