Anuncio • Apr 25
Surface Transforms plc Announces Board Changes, Effective April 22, 2026 Surface Transforms Plc announced that following the appointment of Joint Administrators, Ian Cleminson, Julia Woodhouse, Mathew Taylor and Paul Marr have resigned as directors of the Company with immediate effect. Anuncio • Jan 19
Surface Transforms Plc Provides Earnings Guidance for the Fiscal Year of 2026 Surface Transforms Plc provided earnings guidance for the fiscal year of 2026. For the period, it expects to deliver revenue of approximately £27.0 million. Anuncio • Jun 10
Surface Transforms Plc, Annual General Meeting, Jul 22, 2025 Surface Transforms Plc, Annual General Meeting, Jul 22, 2025. Location: 98 king street, m2 4wu, manchester United Kingdom Anuncio • Mar 06
Surface Transforms Plc Announces CFO Changes Surface Transforms Plc announced that Isabelle Maddock, CFO has informed the Board of her intention to retire effective 30 June 2025. To facilitate a successful handover and continuity, the Board announced the appointment of Steven Harrison as Interim Chief Financial Officer (non-PLC board), effective 17 March 2025. Steven is a seasoned finance professional with over 20 years in CFO roles based in the UK and Internationally and has a broad range of business experience including IPOs, M&A, public and private companies as well as situations with challenging business environments. Steven joins Surface Transforms from Aurorium, a PE backed global manufacturer of speciality chemicals where he was interim European CFO, prior to which he was CFO at Saietta Group plc. Board Change • Nov 13
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Senior Independent Director Matthew Gordon Taylor was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Nov 07
Surface Transforms plc Announces Board Changes Surface Transforms Plc announced that Andrew Kitchingman, non-executive chairman, has resigned with immediate effect. Ian Cleminson will become chairman on an interim basis until a successor has been appointed. Reported Earnings • Oct 03
First half 2024 earnings released: UK£0.013 loss per share (vs UK£0.021 loss in 1H 2023) First half 2024 results: UK£0.013 loss per share. Revenue: UK£4.65m (up 58% from 1H 2023). Net loss: UK£7.05m (loss widened 41% from 1H 2023). Revenue is forecast to grow 65% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Auto Components industry in Germany. New Risk • Sep 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €5.63m (US$6.27m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (1,424% average daily change). Shareholders have been substantially diluted in the past year (439% increase in shares outstanding). Market cap is less than US$10m (€5.63m market cap, or US$6.27m). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (UK£2.8m net loss in 2 years). Anuncio • Sep 16
Surface Transforms plc Announces Board Changes Surface Transforms Plc announced 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. Reported Earnings • Jun 30
Full year 2023 earnings released: UK£0.079 loss per share (vs UK£0.023 loss in FY 2022) Full year 2023 results: UK£0.079 loss per share (further deteriorated from UK£0.023 loss in FY 2022). Revenue: UK£7.31m (up 43% from FY 2022). Net loss: UK£19.6m (loss widened 309% from FY 2022). Revenue is forecast to grow 59% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Auto Components industry in Germany. Anuncio • Jun 29
Surface Transforms Plc, Annual General Meeting, Jul 23, 2024 Surface Transforms Plc, Annual General Meeting, Jul 23, 2024. Location: 1 paternoster square, ec4m 7dx, london United Kingdom Anuncio • May 25
Surface Transforms Plc has completed a Follow-on Equity Offering in the amount of £9.5 million. Surface Transforms Plc has completed a Follow-on Equity Offering in the amount of £9.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 650,000,000
Price\Range: £0.01
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 300,000,000
Price\Range: £0.01
Transaction Features: Rights Offering; Subsequent Direct Listing Breakeven Date Change • May 10
No longer forecast to breakeven The 3 analysts covering Surface Transforms no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of UK£11.0m in 2025. New consensus forecast suggests the company will make a loss of UK£1.21m in 2025. New Risk • May 03
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: UK£7.4m Forecast net loss in 2 years: UK£1.7m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (897% average daily change). Market cap is less than US$10m (€4.82m market cap, or US$5.19m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (UK£1.7m net loss in 2 years). Shareholders have been diluted in the past year (46% increase in shares outstanding). Anuncio • May 03
Surface Transforms Plc has filed a Follow-on Equity Offering in the amount of £8.5 million. Surface Transforms Plc has filed a Follow-on Equity Offering in the amount of £8.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 650,000,000
Price\Range: £0.01
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 200,000,000
Price\Range: £0.01
Transaction Features: Rights Offering; Subsequent Direct Listing Anuncio • Apr 17
Surface Transforms plc Provides Sales Guidance for the Fiscal Year 2024 Surface Transforms Plc provided sales guidance for the fiscal year 2024. For the year, the company Sales are anticipated to grow by a minimum of 111% in 2024 and up to 165% compared to Fiscal Year 2023 sales of £8.3m, resulting in a projected Fiscal Year 2024 range of £17.5 million to £22 million sales. New Risk • Apr 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (44% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (46% increase in shares outstanding). Market cap is less than US$100m (€16.1m market cap, or US$17.1m). Anuncio • Jan 08
Surface Transforms plc Provides Revenue Guidance for 2024 Surface Transforms Plc provided revenue guidance for 2024. The Company is maintaining its revenue guidance at £23 million. Anuncio • Dec 13
Surface Transforms Plc announced that it expects to receive £13.2 million in funding Surface Transforms Plc announced that it has signed a £13,200,000 loan agreement with the Liverpool City Region Urban Development Fundwhich is part funded by the European Regional Development Fund on December 11, 2023. The loan facility is available for drawdown over an initial two-year period and will be progressively deployed exclusively for capital expenditure purposes. Quarterly capital repayments will commence in the first quarter following the completion of the availability period. Completion of this loan agreement was a condition precedent to the second phase of the recent equity placing. This condition has now been satisfied. The passing of the necessary resolutions is expected at the forthcoming General Meeting on December 18, 2023. New Risk • Nov 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risks Shareholders have been diluted in the past year (8.9% increase in shares outstanding). Market cap is less than US$100m (€31.6m market cap, or US$34.4m). Anuncio • Nov 15
Surface Transforms Plc has filed a Follow-on Equity Offering in the amount of £10 million. Surface Transforms Plc has filed a Follow-on Equity Offering in the amount of £10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 80,000,000
Price\Range: £0.1
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 20,000,000
Price\Range: £0.1
Transaction Features: Regulation S; Rights Offering; Subsequent Direct Listing New Risk • Nov 09
New major risk - Revenue and earnings growth Earnings have declined by 25% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£19m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 25% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Market cap is less than US$100m (€36.1m market cap, or US$38.6m). New Risk • Nov 04
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -UK£19m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£19m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Market cap is less than US$100m (€44.6m market cap, or US$47.9m). Anuncio • Nov 04
Surface Transforms plc Provides Sales Guidance for the Year to December 2023 Surface Transforms Plc provided sales guidance for the year to December 2023. The company is now planning its cash needs and customer commitments based on a shallower ramp and now expects to reach the required rate of production in first quarter 2024, later than previously forecast. As a result, the company is reducing its sales guidance for the year to December 2023 to £8.6 million. Reported Earnings • Sep 28
First half 2023 earnings released: UK£0.02 loss per share (vs UK£0.011 loss in 1H 2022) First half 2023 results: UK£0.02 loss per share (further deteriorated from UK£0.011 loss in 1H 2022). Revenue: UK£3.28m (up 15% from 1H 2022). Net loss: UK£4.84m (loss widened 123% from 1H 2022). Revenue is forecast to grow 65% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Auto Components industry in Germany. Anuncio • Aug 01
Surface Transforms Plc to Report First Half, 2023 Results on Sep 27, 2023 Surface Transforms Plc announced that they will report first half, 2023 results on Sep 27, 2023 Breakeven Date Change • Jun 28
Forecast breakeven date pushed back to 2024 The 3 analysts covering Surface Transforms previously expected the company to break even in 2023. New consensus forecast suggests the company will make a profit of UK£5.35m in 2024. Average annual earnings growth of 99% is required to achieve expected profit on schedule. New Risk • Jun 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €90.0m (US$98.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Significant insider selling over the past 3 months (€412k sold). Market cap is less than US$100m (€90.0m market cap, or US$98.6m). Anuncio • May 31
Surface Transforms Appoints Stephen Easton as the New (Non-Board) Chief Operating Officer, Effective 4 September 2023 Surface Transforms announced the appointment of Stephen Easton as the new (non-board) Chief Operating Officer, effective 4 September 2023. Stephen joins the Company from SGL Carbon where he is currently UK Managing Director. During his 16-year tenure at SGL Carbon, a graphite and fibre manufacturing company, he has held various leadership positions both in the UK and US, specialising in carbon and oxidised fibre. Prior to this, he worked in a number of different operational roles for Brand-Rex, a cable manufacturing company. He holds an honours degree in Manufacturing Engineering & Management from the University of Dundee. 