16 September 2024
Surface
Transforms plc
("Surface
Transforms" or the "Company")
Appointment of new non-executive chair
Surface Transforms (AIM:SCE),
manufacturers of carbon fibre reinforced ceramic automotive brake
discs, is pleased to announce the appointment of Andrew Kitchingman
as non-executive chair, with immediate effect.
Andrew is an experienced public
company director, including being non-executive chair of Mpac Group
plc since 2016, and also a non-executive director of Andrew Sykes
Group plc and London Security Group plc. Prior to Andrew's
non-executive career, he spent many successful years in corporate
finance, working for both consultancy firms and stockbrokers,
including KPMG, Hill Samuel, Albert E Sharp, Brewin Dolphin and WH
Ireland, across a wide range of business sectors, both public and
private. Andrew is also a Fellow of the Institute of Chartered
Accountants in England and Wales.
David Bundred will step down as
chair and retire from the Board with immediate effect.
Andrew Kitchingman, new chair,
said:
"I
am delighted to be joining Surface Transforms as chair and would
like to thank my predecessor, David Bundred, for his service over
the last twelve years The company has excellent technology and
plenty of demand for its products. The short-term priorities will
focus on operational excellence, efficiency and tight management of
working capital."
David Bundred, outgoing chair
said:
"I
am pleased to be handing over to such an experienced chair as
Andrew whom I am confident will lead the Company into the next
stage of its development to seize the opportunities for the
Company, and our shareholders and employees.
I am proud of the team's performance over the last 12
years in turning a concept into a product that is so world beating
that we have been awarded contracts of £390m from some of the
world's leading automotive OEMs. Establishing a scaled-up
manufacturing process has taken longer than planned. However
capacity has been built and yield continues to
improve.
This success could not have been achieved without the
dedication and effort of a remarkable team. I want to thank all of
you."
Additional disclosures required under the AIM Rules for
Companies
Pursuant to Rule 17 and Schedule Two
Paragraph (g) of the AIM Rules for Companies, Andrew James
Kitchingman, age 60, owns no ordinary shares in the Company and is,
or has during the last five years, been a director or partner of
the following companies and partnerships:
|
Current directorships or partnerships
|
Previous directorships or partnerships held within the last 5
years
|
|
London Security Group plc
|
Southworks UK Ltd
|
|
Andrew Sykes Group plc
|
MORhomes plc
|
|
Mpac Group plc
|
Burton Leonard Opposition Group
Ltd
|
|
HC Slingsby plc
|
LonPro Holdings Ltd
|
|
ESE Direct Ltd
|
Cathedral Choir School Ripon Limited
(The)
|
|
British Board of Agrément
|
Incommunities Group
Limited
|
|
|
Northern Aldborough
Festival*
|
* Northern Aldborough Festival was converted to
a Charitable Incorporated Organisation in July 2022, and remains
active
Save as set out in this
announcement, Andrew Kitchingman has confirmed that there are no
further disclosures to be made in accordance with paragraph (g) of
Schedule Two to the AIM Rules for Companies.
For
enquiries, please contact:
|
Surface Transforms plc
|
+44
151 356 2141
|
|
Kevin Johnson, CEO
Isabelle Maddock, CFO
|
|
|
Zeus (Nominated Adviser and Joint Broker)
|
+44
203 829 5000
|
|
David Foreman / James
Edis / Ed Beddows (Investment Banking)
|
|
|
Dominic King (Corporate
Broking)
|
|
|
Cavendish Capital Markets Ltd (Joint Broker)
|
+44
20 7220 0500
|
|
Ed Frisby / Abigail
Kelly (Corporate Finance)
Andrew Burdis / Harriet
Ward (ECM)
|
|
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
