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SURFACE TRANSFORMS PLC — Remuneration Information 2018
Dec 5, 2018
7937_dirs_2018-12-05_57282694-e0cc-4115-906b-84f6cda06142.html
Remuneration Information
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RNS Number : 4460J
Surface Transforms PLC
05 December 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 2,585,000 new ordinary shares of 1 pence each in the Company ("Ordinary Shares") under its existing share option scheme (the "Options") to a director, 2 executives being "people with direct management responsibility" (PDMR) and 14 employees. The Options for the director and PDMRs have been granted as follows:
| Director | Position | Number of options granted | Total options held following this grant | |||
| Dr Kevin Johnson | CEO | 1,910,000 | 4,175,000 | |||
| PDMR | ||||||
| Geoff Whitfield | Engineering Manager | 75,000 | 498,595 | |||
| Kerry Wood | Quality Manager | 150,000 | 350,000 |
The Options are exercisable at a price of 13 pence per share being the closing share price on 4 December 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, being awarded a contract for a volume road car from a mainstream volume OEM and generating revenue in a financial year of not less than £5 million.
The vesting of the options for the 14 employees are over three years for middle managers or after six months satisfactory service for other employees, 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 |
| Dr Kevin Johnson | 4,175,000 | 124,000 |
For enquiries, please contact:
| Surface Transforms plc | |
| Kevin Johnson, CEO Michael Cunningham CFO |
+44 151 356 2141 +44 151 348 8882 |
| David Bundred, Chairman | +44 7785 388 848 |
| Cantor Fitzgerald Europe (Nomad & Joint-Broker) | +44 20 7894 7000 |
| David Foreman, Richard Salmond, Michael Boot (Corporate Finance) Caspar Shand Kydd, Gregor Paterson (Sales) |
|
| FinnCap Ltd (Joint-Broker) | +44 20 7220 0500 |
| Richard Chambers (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
Dr Kevin Johnson
2
Reason for notification
a.
Position/Status
PDMR
CEO
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
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 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 1,910,000 ordinary shares of 1 pence
c.
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Not applicable | 1,910,000 |
d.
Aggregated information
Not applicable
e.
Date of the transaction
5 December 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 Whitefield
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
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 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 75,000 ordinary shares of 1 pence
c.
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Not applicable | 75,000 |
d.
Aggregated information
Not applicable
e.
Date of the transaction
5 December 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
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 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 150,000 ordinary shares of 1 pence
c.
Price(s) and volume(s)
| Price(s) | Volume(s) |
| Not applicable | 150,000 |
d.
Aggregated information
Not applicable
e.
Date of the transaction
5 December 2018
f.
Place of the transaction
London Stock Exchange
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.
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