Share Name Share Symbol Market Type Share ISIN Share Description
Surface Transforms LSE:SCE London Ordinary Share GB0002892528 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 14.00p 0 07:47:13
Bid Price Offer Price High Price Low Price Open Price
13.50p 14.50p 14.00p 14.00p 14.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Automobiles & Parts 0.7 -2.5 -2.4 - 15.96

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DateSubject
23/4/2018
09:20
Surface Transforms Daily Update: Surface Transforms is listed in the Automobiles & Parts sector of the London Stock Exchange with ticker SCE. The last closing price for Surface Transforms was 14p.
Surface Transforms has a 4 week average price of 14p and a 12 week average price of 14p.
The 1 year high share price is 21.88p while the 1 year low share price is currently 13.38p.
There are currently 114,035,416 shares in issue and the average daily traded volume is 33,336 shares. The market capitalisation of Surface Transforms is £15,964,958.24.
18/4/2018
09:48
longshanks: I find my own rose tinted glasses dim every so often, but I think this is still a stonking investment proposition.I take comfort on several fronts:1) it is relatively de-risked given the current share price, the scale of OEM activity and the large production footprint due to be available soon.2) they have a number of very supportive fund managers on the share register3) I am pretty sure that OEM 5 is AMG with launch supply being scheduled for their new Hypercar. News on that must be imminent for SOP to commence in 2019 as planned.4) the response to the AM-RB001 nomination was muted but with income starting to be generated, interest in the cash flow security and visibility of such deals should increase.5) OEM 3 whilst irritatingly niggly in their test requirements (no other OEM thinks the ultra-low temperature test is reasonable) stand to be an amazing long term partner that will be truly transformative for the company's growth.My concerns - and I have some - are principally around:1) when will product testing be complete for OEM3.2) do the company have enough cash to maintain working capital through to cash flow break-even.As and when concern #1 is satisfied, (and/or comfort #3) I suspect I will be satisfied on concern #2.Having a clearer route to profitability will make the shares attractive to more conservative fund managers. They may be able to pick stock up in the market but I think they will approach the company for a top-up fundraising.
17/4/2018
00:01
fillspectre: Longshanks - in your post of the 13th April - are you suggesting a further share price fall in July should the OEM3 nomination move back to a later model and hence DB could have transferred more SCE shares into his ISA? Or rather he could have reserved his ISA allowance for other things? I think DB will have more disappointment that the timetable outlined for SCE was not moving to plan. I'm by no means certain we will have an OEM3 confirmed order by June. Interesting you mention SOP for OEM5. In my mind the race between OEM5 and OEM3 seemed to have recently dissipated. It really would be good news for SCE to have two OEMs vying for the capacity available. Regards OEM3 product testing - the conclusion of this must surely be co-incident with the final commissioning of the OEM cell 1. Which will also be co-incident with VDA 6.3. I rather think we need to hear more news about the commissioning of OEM cell 1 before we hear anything of OEM3 product testing and the VDA 6.3 audit being completed.
13/4/2018
12:59
longshanks: You may be right that timing of an ISA transfer is insignificant but there is precedent: DB transferred in March and April 2016 (for two tax years) just prior to there being the surge in the share price to almost 30p over the summer.As to speculating on the next (positive) RNS, I have no inside knowledge but do perhaps have a clearer picture than others that the company remains very active on all fronts. News could come from a number of quarters. We should hear soon on SOP for OEM 5 but the most likely news is confirmation that product testing for OEM 3 is (finally) complete. There are the quality audits for IATF 16949:2016 due to be completed in May, and one would hope those to be coterminous with the VDA 6.3 audit from OEM 3.If product testing is completed and the processes are approved to VDA 6.3 then OEM 3 will be in a position to nominate ST.Naturally, if by the trading update in June, these events don't come to pass, it could be that OEM 3 are forced into moving nomination on to another later model. Should that happen I am sure that DB will have wished he had waited until July this year before doing his ISA transfer.
13/4/2018
08:48
fillspectre: Well at least the board has woken up! I wonder how many sleeper investors we have interested in surface transforms - just maintaining a watchful eye - fully conversant with the technical and commercial implications the announcement of a significant OEM volume will bring and not least of all the likely upward momentum in the share price. Regards your theory Longshanks about the timing of DB's bed 'n' ISA compared to last year - I think it a bit of a stretch to read as much into it. Let us not clutch at straws. So to move to a stronger thread - Longshanks what in your opinion is the next most likely positive RNS given everything you know. Regards Fils.
13/2/2018
10:07
fillspectre: Longshanks - from past experience Surface Transforms does not have a habit of pulling rabbits out of hats. The only one I can think of was the Aston Martin contract which came out of the blue but which seemed to have no impact on the share price. We are due a trading update sometime this month. It has come at the end of the month before. Let us hope like you say someone is selling for reasons that are personal. FS
05/2/2018
08:34
longshanks: Michael Cunningham was awarded a good number of options recently with other PDMRs and 22 employees. The PDMR options don't appear to have any time component to vesting but are linked to meeting certain "game-changer" milestones.In essence, they should have fully vested in two years time if the current growth plan plays out.We will get results issued this month after which Directors will be free to purchase shares. Michael Cunningham is not a board director and is not restricted in the same way (although insider dealing rules do still apply) and any purchases by him wouldn't need to be declared unless they exceeded the 3% limit.I would expect DB and RG to be the Directors that principally take advantage of the current share price.
04/1/2018
12:00
fillspectre: Incidentally I don't think a race car contract will be announced in Quarter 1 of the 2018 calendar year. I don't think we should build up hopes on this board of imminent contract RNS announcements. I think we are on an eighteen month journey now. Midway through this journey we should expect a lot more progress on the readiness of OEM cell 1. My view now is that all things are being worked to a pragmatic timetable in line with how the car industry and reality works. Everything has to be planned in detail, everything has to be proven, as many unknowns and uncertainties have to be eliminated. The great news for us as shareholders is when an OEM contract announcement is made - we have a far greater degree of certainty with this Company that the revenue stream is secure and realisable. The OEM will have guaranteed as far as possible that Surface Transforms will deliver to quality and timescale. Therefore as soon as the contract announcements are in we can allow ourselves to look forward past booked revenues to further OEM contracts and future capital investment in a OEM cell 2. One thing I noted from the recent AGM presentation is that the capital investment for an OEM cell has a short payback period - this may mean that funds may be borrowed rather than through an equity fundraising. Even so an equity fundraising for OEM cell 2 I would expect be at a much higher share price not dilutive to current shareholders. The biggest random factor is the aircraft contract - which will come when it comes - and will be a nice icing on the cake when it does. As ever the big rise in share price will come with the announcement of first OEM large volume contract. Fils
28/12/2017
11:30
rivaldo: Obviously the share price isn't going to zoom up on this news. However, it's proof once again that SCE's brakes are being used at the top level of their sector, and usually such usage becomes incorporated in greater and greater depth into that sector over time. Proof of the business model is extremely important. Happy New Year to all, even Toffeeman despite his absolutely pointless comment. It's not often I respond personally, but that post takes the biscuit! Talk about Scrooge.
23/11/2017
22:31
fillspectre: Sate_uk - with the sentiments you have expressed below I sense you have been a very long term investor just like I have. Following this Company has taught me many things - I just wasn't asking myself the right questions to begin with. I did actually visit the Company when it was based at the Stanlow refinery complex because I used to pass it on my daily commute. Back then there was talk of rocket components and train brakes as well as car brakes. I'd have to consult the records but I'm thinking when I first got involved the total shares issued numbered comfortably less than twenty million. Fast forward a few years and I attended an investor day in April 2014 at Ellesmere Port. There were only nine attendees, two of whom were from Cantor Fitzgerald and a third guy who represented people in the City. David Bundred stated at that meeting that he was yet to regard Surface Transforms as a "quality Company". I came away from that meeting believing without question that David Bundred was doing absolutely the right thing in focusing the Company on car brakes. I also appreciated his statement about Surface Transforms not yet being a "quality Company" - I could see for myself the essential core of the business processes were established but that there was plenty of room for improvement. The new Knowsley facility will be a quantum leap forward. I do share a concern though about a future dilution but David Bundred has stated that ST are still confident in their numbers until they get to the cash break even point. I also, like you, think this Company is perennially undervalued and that you could never accuse ST Management of talking up the share price. I have watched some Companies in AIM put out RNS announcements that contain positive statements but not necessarily news about booked contracts and the price takes off. These very often loss making Companies go on then to have a fund raise capitalising on the recently bouyant share price. One could say who can blame them! Shareholders in ST are at least getting a part share in a factory that is turning out a quality product to some well respected names in the Car Industry. Physical assets exist in Knowsley. I also hang onto Kevin's comment at the 2016 AGM about the market for Carbon ceramic disc brakes not being a zero sum game - to gain a market share does not necessarily mean stealing clients from a competitor. If it helps you Sate_uk I too am choosing to keep the faith. FS
23/11/2017
10:40
sate_uk: My issue with all of this is that the long term shareholders who have been supporting the company for so long to keep the company running by providing its working capital and capital expenditure can see the long term potential but I don't think the share price adequately reflects this view. I can understand that the price is continuously eroded by the additional issue of shares but the perceived value should still be reflected in the share price. Of course as soon as the first contract is signed the share price will no doubt rocket and there is no reason to believe the current manufacturing capability is not adequate. I think we will all eventually be relatively happy with the share price but it will never be great without dividends which will only come around once they have secured considerable orders and have sufficient cash available for their working capital and future capital expenditure. Once we get to that stage I think I will finally be satisfied about my original investment. Until then we have a few more years to wait but after 14 years it won't seem that long. Sate
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