Surface Transforms plc (LON:SCE) has announced that the Company was notified on 12 May 2021 that Matthew Taylor, non-executive director, has purchased a total of 55,000 ordinary shares of 1p each in the Company comprising a purchase of 30,000 Ordinary Shares at a price of 66.5p on 11 May 2021 and 25,000 Ordinary Shares at a price of 67.0p on 12 May 2021. Following these purchases, Matthew is beneficially interested in 55,000 Ordinary Shares.
Surface Transforms develop and produce 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 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.