17:00 Wed 21 Oct 2020
Surface Transforms - Grant of Options
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Surface Transforms plc
("Surface Transforms" or the "Company")
Grant of Options
Surface Transforms plc (AIM: SCE) announces that it has granted options over 180,000 new ordinary shares of
The Options are exercisable at a price of
The vesting of the Options for all employees is conditional on the continued employment of the option holder. For managers there are also the following financial and non-financial performance conditions. The Options will vest in one-third tranches upon meeting confidential internal financial criteria, 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
For all employees below manager level, the Options will vest in two years, subject to their continued employment.
| For enquiries, please contact: |
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| Surface Transforms plc | +44 151 356 2141 |
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| Zeus Capital Limited (Nominated Advisor and Joint Broker) | +44 203 829 5000 |
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| finnCap Ltd (Joint Broker) | +44 20 7220 0500 |
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For further Company details, visit www.surfacetransforms.com.
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