Surface Transforms PLC Grant of Options (2697R)
September 20 2017 - 4:34AM
UK Regulatory
TIDMSCE
RNS Number : 2697R
Surface Transforms PLC
20 September 2017
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 990,000 new ordinary shares of 1 pence each in the
Company ("Ordinary Shares") under its existing share option scheme
(the "Options"). The Options have been granted as follows:
Name Position No. of Options
granted
Chief Executive
Kevin Johnson Officer 990,000
The Options are exercisable at a price of 15.875 pence per share
being the closing share price on 19 September 2017 and vest against
achievement of the performance criteria described below no earlier
than 19 September 2020. The Options expire on the tenth anniversary
of the date of grant.
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 the Company being
awarded a contract on a track car from a mainstream volume OEM,
being awarded a contract for a volume road car from a mainstream
volume OEM and/or generating revenue in a financial year of not
less than GBP5 million.
Details of the director's resultant holdings of Ordinary Shares
and options over Ordinary Shares are as follows:
Name Total No. of No. of Existing Ordinary
Options Shares
Kevin Johnson 3,055,707 124,000
For enquiries, please contact:
Surface Transforms plc
Kevin Johnson, CEO +44 151 356 2141
David Bundred, Chairman +44 7785 388 848
Cantor Fitzgerald Europe (Nomad
& Joint-Broker) +44 20 7894 7000
David Foreman, Callum Butterfield
(Corporate Finance)
Alex Pollen (Sales)
FinnCap Ltd (Joint-Broker) +44 20 7220 0500
Stephen Norcross / Nikita Jain
(Corporate Broking)
Ed Frisby / Giles Rolls (Corporate
Finance)
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 Kevin Johnson
------------------------------------------
2 Reason for
notification
------- -------------------------- ------------------------------------------
a. Position/Status PDMR
Chief Executive Officer
------- -------------------------- ------------------------------------------
b. Initial notification/ Initial Notification
Amendment
------- -------------------------- ------------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
----------------------------------------------------------------------
a. Name Surface Transforms plc
------- -------------------------- ------------------------------------------
b. LEI N/A
------- -------------------------- ------------------------------------------
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 Options over ordinary shares of
of the financial 1p each
instrument,
type of instrument
ISIN: GB0002892528
Identification
Code
------- -------------------------- ------------------------------------------
b. Nature of Grant of options over 990,000
the transaction ordinary shares of 1 pence
------- -------------------------- ------------------------------------------
c. Price(s) and Price(s) Volume(s)
volume(s) -------------------- --------------
Not applicable 990,000
-------------------- --------------
------- -------------------------- ------------------------------------------
d. Aggregated Not applicable
information
------- -------------------------- ------------------------------------------
e. Date of the 20 September 2017
transaction
------- -------------------------- ------------------------------------------
f. Place of the London Stock Exchange
transaction
------- -------------------------- ------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHLIFFTAAIIFID
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September 20, 2017 04:34 ET (08:34 GMT)
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