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Regulatory Story
Company Surface Transforms PLC
TIDM SCE
Headline Director/PDMR Shareholding
Released 07:00 28-Mar-2019
Number 2383U07

RNS Number : 2383U
Surface Transforms PLC
28 March 2019
 

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 210,000 new ordinary shares of 1 pence each in the Company ("Ordinary Shares") under its existing share option scheme (the "Options") to an executive, being "a person with with direct management responsibility" (PDMR) as follows:

 

PDMR

Position

Number of options granted

Total options held following this grant

 

 

 

 

Stephen Harvey

Senior Operations Manager

210,000

210,000

 

 

 

 

 

The Options are exercisable at a price of 15.25 pence per share being the closing share price on 25 March 2019

 

The vesting of the Options 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 production cell OEM1 being fully operational, the Company achieving an agreed (but commercially confidential) target cost for the manufacture of a carbon ceramic disc and generating revenue in a financial year of not less than £5m sales.

 

 

For enquiries, please contact:

 

Surface Transforms plc                                                                      +44 151 356 2141

 

Kevin Johnson, CEO

Michael Cunningham, CFO

David Bundred, Chairman

 

Cantor Fitgerald Europe (Nomad & Joint Broker)                            +44 20 7894 7000

 

David Foreman/ Michael Boot (Corporate Finance)

Caspar Shand Kydd/Gregor Paterson/Maisie Atkinson (Sales)

 

finnCap Ltd (Joint Broker)                                                                      +44 20 7220 0500

 

Ed Frisby/Giles Rolls (Corporate Finance)

Richard Chambers (ECM)

 

This announcement has been released by Kevin Johnson, Chief Executive Officer, on behalf of the Company.

 

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

Stephen Harvey

2

Reason for notification

 

 

 

a.

Position/Status

PDMR

Senior Operations Manager

b.

Initial notification/

Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a.

Name

Surface Transforms plc

b.

LEI

213800GQHNJPE5O8XO79

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 the financial instrument, type of instrument

Identification Code

Options over ordinary shares of 1p each
 

ISIN: GB0002892528

b.

Nature of the transaction

Grant of options over 210,000 ordinary shares of 1 pence

c.

Price(s) and volume(s)

 

Price(s)

Volume(s)

Not applicable

210,000

 

d.

Aggregated information

 

Not applicable

e.

Date of the transaction

26 March 2019

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
 
 
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