Time To ACT PLC - Holding(s) in Company

Time To ACT plc

("Time To ACT", "the Company" or "the Group")

Shareholding change

Time To ACT plc (AQSE: TTA), the Aquis-listed specialist engineering group, provides the following update.

Hugh-Peter ("H-P") Kelly (aged 77), the original inventor of the GreenSpur technology, has sold a portion of his shareholding in the group as part of a financial planning exercise.

Mr Kelly has sold 625,000 shares, reducing his shareholding from 1,250,000 shares (5.7%) to 625,000 shares (2.8%).  The shares were placed with a new shareholder group.

Chris Heminway, Chief Executive & Chief Strategy Officer of Time To ACT plc, said:

"Despite suffering (and recently recovering from) a prolonged period of illness, H-P has maintained a strong hand on the GreenSpur tiller and indeed has recently been working on a new patent application covering optimised manufacturing techniques.  H-P has informed me that he remains a committed long-term shareholder in the Company and I am grateful for his continuing involvement.

I am also pleased that we facilitated the sale and purchase of these shares with relative ease and offer welcome our new shareholder(s)".

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About Time To ACT plc

Time To ACT plc is a growth-focused specialist engineering group operating through two established businesses (Diffusion Alloys and MTE) and one earlier-stage development activity (GreenSpur).  As the parent company of the Group, Time To ACT provides strategic and operational support to the operating companies and capital to enable their growth.

About Diffusion Alloys 

Diffusion Alloys is an established specialist provider of high-temperature diffusion coating and thermal processing technologies for critical industrial applications.

The business supports customers operating in demanding environments where components are exposed to high temperatures, corrosion, erosion and aggressive process conditions, including sectors such as hydrogen, sustainable fuels, nuclear, petrochemical processing and energy transition infrastructure.

Diffusion Alloys operates through two complementary business units:

·    Coating Technology, focused on licensing, technical partnerships and flexible-capacity deployment models; and

·    Coating Services, the operational processing business centred on its Middlesbrough facility.

Alongside its coating technologies, Diffusion Alloys is developing a broader thermal processing platform through the integration of complementary metallurgical and heat treatment capabilities. The business combines large-scale industrial processing capacity with specialist technical expertise in surface engineering and high-temperature metallurgy.

About MTE

MTE is a specialist thermal processing and precision engineering business providing heat treatment, induction hardening, gear cutting, grinding and metallurgical processing services for industrial engineering applications.

The business supports customers across sectors including automotive, energy, marine, heavy industry and precision engineering, supplying critical components requiring high levels of dimensional accuracy, durability, wear resistance and process consistency.

MTE combines sealed quench heat treatment capability, induction hardening expertise and precision gear manufacturing with specialist knowledge in distortion control, quenching techniques, metallurgical verification and associated metrology.  Its integrated processing model enables customers to access multiple complementary engineering services through a single specialist supplier, combining precision metallurgical control with scalable production capability for both specialist low-volume and higher-throughput industrial applications.

The business operates from its facility in West Yorkshire and provides subcontract engineering services to a broad industrial customer base, supported by in-house laboratory, quality assurance and technical inspection capabilities.

About GreenSpur

GreenSpur is a generator technology and intellectual property company focused on advanced electrical machine systems for renewable energy and industrial power applications.

The company develops scalable axial flux generator technologies designed for implementation across a range of sectors, including wind, marine, distributed energy and other specialist power generation applications.  GreenSpur's platform-based approach enables the development of customised generator solutions that are optimised for differing operational, environmental and commercial requirements.

GreenSpur's technologies are supported by an extensive intellectual property portfolio and are designed to provide flexibility across magnetic materials, cooling systems, drive configurations and deployment environments.  GreenSpur has developed the world's first credible Rare Earth-free technology which is competitive with existing Rare Earth magnet-based radial flux machines.  This generator design eliminates the need for Rare Earth magnets and copper coils without any loss in electrical performance.

The business operates primarily through technology development, engineering services and licensing partnerships, while also selectively supporting manufacturing and industrialisation activities where appropriate.