Surface Transforms PLC Holding(s) in Company (2985X)
December 19 2023 - 3:37AM
UK Regulatory
TIDMSCE
RNS Number : 2985X
Surface Transforms PLC
19 December 2023
19 December 2023
Surface Transforms plc
("Surface Transforms" or "the Company")
Change in Shareholding
Surface Transforms plc (AIM:SCE) announces that it was informed
on 15 December that Group 14 Ltd had on the same day, sold its
entire shareholding in Surface Transforms, being 11,470,628
ordinary shares of GBP0.01 in the Company ("Shares") to Craven
Combie Ltd.
Group 14 Ltd is controlled by a former director of the Company,
Mr Richard Gledhill. Craven Combie Ltd is controlled by members of
Mr Gledhill's family whom are not deemed closely associated
persons, and Mr Gledhill has no ownership of, nor control in,
Craven Combie Ltd.
As a result of the sale, Craven Crombie Ltd owns 3.26% of the
total Shares in issue as at the date of this announcement. Mr
Gledhill and his wife continue to hold 3,542,718 shares in a
personal capacity, being 1.01% of the total Shares in issue as at
the date of this announcement.
David Bundred (Chairman) said : "Richard has been a long term
supporter of the Company and has been planning this sale of his
shareholding to family members for some time. I want to repeat our
thanks to Richard that we made when he retired from the Board. His
contribution, both as a director and shareholder, have been of
inestimable value. We look forward to working with the next
generation of his family."
For enquiries, please contact:
Surface Transforms plc +44 151 356 2141
David Bundred, Chairman
Kevin Johnson CEO
Isabelle Maddock CFO
Zeus (Nominated Adviser and Joint Broker) +44 203 829 5000
David Foreman / Dan Bate / James Edis (Investment
Banking)
Dominic King (Corporate Broking)
Cavendish Capital Markets Ltd (Joint Broker) +44 20 7220 0500
Ed Frisby / Abigail Kelly (Corporate Finance)
Andrew Burdis / Harriet Ward (ECM)
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
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END
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