Hardman & Co Research on Surface Transforms (SCE): Open Offer
Hardman & Co Research Hardman & Co Research on Surface Transforms (SCE): Open Offer
09-May-2024 / 10:38 GMT/BST The issuer is solely responsible for the content of this announcement.
Hardman & Co Research on Surface Transforms (SCE):
Open Offer
Surface Transforms (SCE) has announced the raising of £6.5m new equity and is launching an Open Offer to shareholders. It is raising capacity and quarterly revenue but has needed to address the two sets of production constraints it faced: scrappage and process-line pinch points. Pinch points have been much reduced through capital expenditure and expert maintenance teams. Major capital expenditure is ongoing and unaffected by the fund raise. The scrappage from the fast ramping up of volumes is reducing but still a problem. This, and volumes being below expectations, lead to the need for extra working capital. SCE is delivering product to a range of OEMs.
Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.
About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report.
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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