SURFACE TRANSFORMS PLC — Remuneration Information 2018

Jan 4, 2018

National Storage Mechanism | Additional information

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RNS Number : 9091A

Surface Transforms PLC

04 January 2018

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 2,965,000 new ordinary shares of 1 pence each in the Company ("Ordinary Shares") under its existing share option scheme (the "Options") to a director, 5 executives being "people with direct management responsibility" (PDMR) and 22 employees.  The Options for the director and PDMRs have been granted as follows:

Director or PDMR		Position		Number of options granted		Total options held following this grant
David Bundred		Chairman		450,000		1,000,000
Michael Cunningham		Finance Director		990,000		990,000
Geoff Whitfield		Engineering Manager		215,000		500,180
Des Farrell		Operations Manager		300,000		500,000
Michael Sinai		European Sales Manager		250,000		350,000
Kerry Wood		Quality Manager		200,000		200,000

The Options are exercisable at a price of 15.25 pence per share being the closing share price on 3 January 2018

The vesting of the Options for the director and PDMRs 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 £5 million.

The vesting of the options for the 22 employees are over three years for middle managers or after six months satisfactory service for junior employess, both are dependent on continung employment of the option holder

Details of the director's resultant holdings of Ordinary Shares and options over Ordinary Shares are as follows:

Name	Total No. of Options	No. of Existing Ordinary Shares
David Bundred	1,000,000	894,641

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

David Bundred

2

Reason for notification

a.

Position/Status

PDMR

Chairman

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 450,000 ordinary shares of 1 pence

c.

Price(s) and volume(s)

Price(s)	Volume(s)
Not applicable	450,000

d.

Aggregated information

Not applicable

e.

Date of the transaction

3 January 2018

f.

Place of the transaction

London Stock Exchange

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

Michael Cunningham

2

Reason for notification

a.

Position/Status

PDMR

Finance Director

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 990,000 ordinary shares of 1 pence

c.

Price(s) and volume(s)

Price(s)	Volume(s)
Not applicable	990,000

d.

Aggregated information

Not applicable

e.

Date of the transaction

3 January 2018

f.

Place of the transaction

London Stock Exchange

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

Geoffrey Whitfield

2

Reason for notification

a.

Position/Status

PDMR

Engineering 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 215,000 ordinary shares of 1 pence

c.

Price(s) and volume(s)

Price(s)	Volume(s)
Not applicable	215,000

d.

Aggregated information

Not applicable

e.

Date of the transaction

3 January 2018

f.

Place of the transaction

London Stock Exchange

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

Desmond Farrell

2

Reason for notification

a.

Position/Status

PDMR

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 300,000 ordinary shares of 1 pence

c.

Price(s) and volume(s)

Price(s)	Volume(s)
Not applicable	300,000

d.

Aggregated information

Not applicable

e.

Date of the transaction

3 January 2018

f.

Place of the transaction

London Stock Exchange

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

Michael Sinai

2

Reason for notification

a.

Position/Status

PDMR

European Sales 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 250,000 ordinary shares of 1 pence

c.

Price(s) and volume(s)

Price(s)	Volume(s)
Not applicable	250,000

d.

Aggregated information

Not applicable

e.

Date of the transaction

3 January 2018

f.

Place of the transaction

London Stock Exchange

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

Kerry Wood

2

Reason for notification

a.

Position/Status

PDMR

Quality 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 200,000 ordinary shares of 1 pence

c.

Price(s) and volume(s)

Price(s)	Volume(s)
Not applicable	200,000

d.

Aggregated information

Not applicable

e.

Date of the transaction

3 January 2018

f.

Place of the transaction

London Stock Exchange

This information is provided by RNS

The company news service from the London Stock Exchange

END

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