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RNS Number : 3093O

Surface Transforms PLC

08 February 2021

8 February 2021

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 Withheld 
      To increase the limit of 
       the maximum number of shares 
 1.    the Company may issue          59,987,306          45,920           16,053 
     ------------------------------  -----------  --------------  --------------- 
      To authorise the Directors 
       to allot relevant securities 
 2.    for the Fundraisings           60,019,850          13,379           16,053 
     ------------------------------  -----------  --------------  --------------- 
      To authorise the Directors 
       to issue Ordinary Shares 
       for cash other than on a 
 3.    pre-emptive basis              59,788,172         229,362           17,871 
     ------------------------------  -----------  --------------  ---------------

* Any proxy appointments, which gave discretion to the Chairman have been included in the 'For' votes total.

Following the approval of the Resolutions, the Placing and Subscription to raise in aggregate GBP18.0 million (before expenses) for the Company, and the Open Offer to raise GBP2.0 million (before expenses) for the Company, each as described in more detail in the announcement made by the Company on 19 January 2021 (the "Launch Announcement"), remain conditional on Admission.

Application has been made for 4,000,000 EIS/VCT Placing Shares to be admitted to trading on AIM and dealings are expected to commence at 8.00 a.m. on 9 February 2021.

Application has also been made for 36,000,000 new Ordinary Shares pursuant to the Placing, Subscription and Open Offer, excluding the EIS/VCT Placing Shares, to be admitted to trading on AIM, with dealings expected to commence at 8.00 a.m. on 10 February 2021.

Total Voting Rights

Following Admission, the total number of voting rights in the Company will be 194,918,319. 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 Launch Announcement, unless otherwise stated.

 
For further information, please contact:

Surface Transforms plc. +44 151 356 2141

David Bundred, Chairman

Kevin Johnson, CEO

Michael Cunningham, CFO

   Zeus Capital Limited (Nominated Adviser 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)

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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February 08, 2021 05:35 ET (10:35 GMT)

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