- Brake disc manufacturer Surface Transforms said it was exploring alternative avenues for meeting demand for an over-subscribed open offer that raise £0.3m.

The company had also raised £1.4m from a share placement, with both offers pitched at 13p per share.

Valid acceptances were received for 10.9m open offer shares.

'The board is exploring various options to satisfy the excess open offer demand of 8.6m shares,' Surface Transforms said.

'A further announcement will be made in due course.'

At 9:38am: [LON:SCE] Surface Transforms PLC share price was 0p at 16p

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