Surface Transforms PLC Directorate Change

RNS Number : 0789L

Surface Transforms PLC

06 November 2024

 

6 November 2024

Surface Transforms plc

("Surface Transforms" or the "Company")

 

Directorate change

 

Surface Transforms (AIM:SCE), manufacturers of carbon fibre reinforced ceramic automotive brake discs, announces that Andrew Kitchingman, non-executive chairman, has resigned with immediate effect. Ian Cleminson will become chairman on an interim basis until a successor has been appointed.

 

Ian Cleminson, Interim Chairman commented:

 

"Andrew's time with the Company was unfortunately brief and we wish him well in his future endeavours. While short term business priorities are focused on operational improvements and tight management of cash, we are reviewing strategic opportunities to bring longer term financial stability to the Company."

For enquiries, please contact:

Surface Transforms plc	[phone]
Ian Cleminson, Interim Chairman
Zeus (Nominated Adviser and Joint Broker)	[phone]
David Foreman / James Edis (Investment Banking)
Dominic King (Corporate Broking)

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 cars and electric vehicles. While competitor carbon‐ceramic brake discs use discontinuous chopped carbon fibre, Surface Transforms interweaves continuous 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.

The Company holds the London Stock Exchange's Green Economy Mark.

For additional information please visit www.surfacetransforms.com

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