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:

* 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.

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