leadf
logo-loader
RNS
viewSurface Transforms

Surface Transforms - Grant of Options

RNS Number : 7054C
Surface Transforms PLC
21 October 2020
 

.

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 1 pence each in the Company ("Ordinary Shares") under its existing share option scheme (the "Options") to a number of employees, none of whom are PDMR's.

 

The Options are exercisable at a price of 46.0 pence per share being the closing share price on 19 October 2020.

 

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 £5m sales.

 

For all employees below manager level, the Options will vest in two years, subject to their continued employment.

 

 

For enquiries, please contact:

 

Surface Transforms plc

+44 151 356 2141

Kevin Johnson, CEO

Michael Cunningham, CFO

David Bundred, Chairman

 

Zeus Capital Limited (Nominated Advisor 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)

 

 

For further Company details, visit www.surfacetransforms.com.

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 [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCFLFITISLIFII

Quick facts: Surface Transforms

Price: -

Market: AIM
Market Cap: -
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

3 min read