Surface Transforms PLC Result of General Meeting and Total Voting Rights (1700X)
18 Diciembre 2023 - 6:24AM
UK Regulatory
TIDMSCE
RNS Number : 1700X
Surface Transforms PLC
18 December 2023
Surface Transforms plc
("Surface Transforms" or the "Company")
Result of General Meeting and
Total Voting Rights
Surface Transforms (AIM: SCE), manufacturers of carbon fibre
reinforced ceramic automotive brake discs, announces that, at its
General Meeting held earlier today, all Resolutions were duly
passed.
A summary of the votes lodged by proxy at the General Meeting is
set out below:
Resolution Votes % For Votes % Against Votes
For Against Withheld
To increase the limit
of the maximum number
of shares the Company
1. may issue 114,612,257 99.71 333,989 0.29 74,358
------------------------------ ------------ ------ --------- --------- ----------
To authorise the Directors
to allot relevant securities
for the Conditional Placing
2. and Open Offer 114,622,582 99.72 325,532 0.28 72,490
------------------------------ ------------ ------ --------- --------- ----------
To authorise the Directors
to issue Ordinary Shares
for cash other than on
3. a pre-emptive basis* 114,592,931 99.72 326,683 0.28 100,900
------------------------------ ------------ ------ --------- --------- ----------
* Special Resolution
(1) Any proxy appointments, which gave discretion to the
Chairman have been included in the 'For' votes total.
(2) Votes "For" and "Against" any resolution are expressed as a
percentage of votes validly cast for that resolution.
(3) A "Vote withheld" is not a vote in law and is not counted in
the calculation of the percentage of shares voted "For" or
"Against".
(4) The number of shares in issue on 15 December 2023 was
261,733,233 with no shares in treasury.
(5) The full text of the resolutions passed at the General
Meeting can be found in the Circular which is
available on the Company's website at www.surfacetransforms.com .
Following the approval of the Resolutions, the Conditional
Placing to raise GBP 6.3 million (before expenses) for the Company,
and the Open Offer to raise GBP 2.7 million (before expenses) for
the Company, each as described in more detail in the Circular
published by the Company on 15 November 2023, remain conditional on
Admission.
Application has been made for 90,339,405 new Ordinary Shares
pursuant to the Conditional Placing and Open Offer to be admitted
to trading on AIM, with dealings expected to commence at 8.00 a.m.
on 19 December 2023.
Total Voting Rights
Following Admission, the total number of voting rights in the
Company will be 352,072,638 . 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.
The Capitalised terms used in this announcement have the same
meanings as in the Circular, unless otherwise stated.
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 / James Edis / Ed Beddows (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) 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
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END
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December 18, 2023 07:24 ET (12:24 GMT)
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