Business
Result of Placing and Subscription, & Notice of GM
Result of Placing and Subscription, & Notice of GM.
About this update from Surface Transforms Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2934M\n Surface Transforms PLC\n 20 January 2021\n \n \n \n \n 20 January 2021\n \n \n \n \n \n THIS ANNOUNCEMENT, AND THE INFORMATION CONTAINED HEREIN, IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.\n \n \n \n \n \n THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 (\"MAR\"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA THE REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. \n \n \n \n \n \n Surface Transforms plc.\n \n \n (\"Surface Transforms\" or the \"Company\")\n \n \n \n \n \n Result of Placing and Subscription \n \n \n and proposed Open Offer\n \n \n Notice of General Meeting\n \n \n \n \n \n Surface Transforms (AIM: SCE), manufacturers of carbon fibre reinforced ceramic automotive brake discs, is pleased to announce that further to the Company's announcement released at approximately 5.30 p.m. on 19 January 2021 (\"Launch Announcement\"), the Bookbuild has closed and the Company has conditionally raised gross proceeds of £18.0 million, through the successful placing of 35,750,000 Placing Shares and 250,000 Subscription Shares at the Issue Price of 50 pence per Ordinary Share.\n \n \n \n \n \n The Placing Shares and Subscription Shares represent approximately 23.2 per cent. of the Company's Existing Ordinary Shares. The Issue Price represents a \n discount of approximately 5.7% to the closing price on 5 January 2021 following the Company's Trading Update announced on that date, and \n 11.0 per cent. to the volume weighted average price of 56.3263 pence per Ordinary Share for the period from 5 to 19 January 2021 being the period following the Company's last Trading Update to the date of the Launch Announcement. The Issue Price also represents a discount of approximately 17.0 per cent. to the closing mid-market price per Ordinary Share of 60.5 pence on 19 January, being the date of the Launch Announcement.\n \n \n \n \n \n In addition to the Placing...