SURFACE TRANSFORMS PLC — AGM Information 2023

Jun 27, 2023

National Storage Mechanism | Additional information

RNS Number : 1014E

Surface Transforms PLC

27 June 2023

27 June 2023

Surface Transforms plc

("Surface Transforms" or the "Company")

Result of Annual General Meeting

Surface Transforms (AIM: SCE) is pleased to announce that all resolutions proposed at its Annual General Meeting ("AGM") held at 10:00 a.m. earlier today were duly passed by shareholders.

A summary of the votes lodged by proxy at the AGM is set out below:

	Resolution	Votes For	% Votes For	Votes Against	% Votes Against	Votes Withheld
1.	Receive the audited accounts of the Company	95,537,633	98.64%	1,317,419	1.36%	22,652
2.	Re-appoint Grant Thornton UK LLP as auditors	96,752,549	99.99%	2,303	0.01%	122,852
3.	Re-elect Dr Kevin Johnson as a Director	96,852,749	99.99%	2,303	0.01%	22,652
4.	Re-elect Matthew Taylor as a Director	96,852,749	99.99%	2,303	0.01%	22,652
5.	Approve the Company's Long Term Incentive Plan (LTIP)*	95,018,127	98.17%	1,774,125	1.83%	85,452
6.	Authorise the directors to grant options under the LTIP scheme*	94,993,127	98.14%	1,796,777	1.86%	87,800
7.	Authorise the establishment of an EBT*	96,764,949	99.97%	24,955	0.03%	87,800
8	Authorise the incorporation of a subsidiary to act as trustee of the EBT*	96,750,290	99.96%	39,614	0.04%	87,800
9	Approve the Company's Share Incentive Plan (SIP)*	96,707,993	99.92%	81,911	0.08%	87,800
10	Authorise the directors to implement and give effect to the SIP*	96,707,993	99.92%	81,911	0.08%	87,800
11	Authorise the directors to make awards (the SIP Awards)*	96,707,993	99.92%	81,911	0.08%	87,800
12	Authorisation for the purpose of section 551 of the Act*	96,792,927	99.94%	59,477	0.06%	25,300
13	Authorisation pursuant to section 570 of the Act to allot equity securities*	96,589,903	99.77%	225,101	0.23%	62,700

* Special resolution

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

(2)     Votes "For" and "Against" any resolution are expressed as a percentage of votes validly cast for that resolution. 

(3)     A "Vote withheld" is not a vote in law and is not counted in the calculation of the percentage of shares voted "For" or "Against".

(4)     The number of shares in issue on 27 June 2023 was 241,693,233 with no shares in treasury.

(5)     The full text of the resolutions passed at the AGM can be found in the Notice of Annual General Meeting which is available on the Company's website at www.surfacetransforms.com.

For enquiries, please contact:

Surface Transforms plc Kevin Johnson, CEO David Bundred, Chairman	+44 151 356 2141
Zeus (Nomad & Joint Broker)               David Foreman / Dan Bate/ James Edis (Investment Banking) Dominic King (Corporate Broking)	+44 203 829 5000
finnCap Ltd (Joint Broker) Ed Frisby/Abigail Kelly (Corporate Finance) Andrew Burdis /Barney Hayward (ECM)	+44 20 7220 0500

About Surface Transforms

Surface Transforms plc. (AIM:SCE) develops and produces 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 long strand 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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