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.