TIDMTRT
RNS Number : 1931T
Transense Technologies PLC
23 November 2021
The information contained within this announcement is deemed by
the Company to constitute inside information pursuant to Article 7
of EU Regulation 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 as amended.
Transense Technologies plc
("Transense" or the "Company")
AGM trading update, Director appointments and
Investor Event
Transense Technologies plc (AIM: TRT), the provider of
specialist sensor systems, is pleased to provide a trading update
ahead of its Annual General Meeting at noon today and to announce
the appointment of two executive directors to the Board of the
Company: Nick Hopkins MBA as Chief Operating Officer, and Ryan
Maughan FIMechE MSc as Business Development Director. These
appointments take effect from 1 December 2021.
AGM trading update
Revenues in the financial year to date are in line with the
Board's expectations and ahead of the level achieved in the
equivalent period last year. Trading results to 31 October 2021
were profitable and cash generative, with net cash at 31 October
2021 of GBP1.34m (30 June 2021: GBP1.05m). The Board is pleased
with overall progress and optimistic about the outlook for the full
year and beyond.
Nick Hopkins - Chief Operating Officer
Nick joined Transense in June 2020 as Managing Director of its
Surface Acoustic Wave (SAW) business. Since his appointment, he has
overseen all the commercial and operational activities of the SAW
business, including cementing existing long-term relationships with
key customers and suppliers, and providing leadership to the team.
Before joining Transense, Nick had several years of business
experience in the electronics sector using SAW for Test and
Instrumentation, following a military career which included the
command of an Army Air Corps operational helicopter squadron and
operational and capability equipment roles with the Joint
Helicopter Command. He now joins the Board of Transense as Chief
Operating Officer with responsibility for the SAW business.
Ryan Maughan - Business Development Director
Ryan joins the Board as Business Development Director, a
part-time executive role that represents a significant extension of
his current activities as a member of the Company's SAW Commercial
Advisory Panel, SAWCAP. He will lead Transense's business
development, commercial and marketing activities for SAW, reporting
to the Board. He will help to develop commercial opportunities in
propulsion systems and complex machine control, where SAW sensor
technology delivers improvements in performance, efficiency, safety
and reliability.
Ryan is an award-winning engineer and business leader with more
than 20 years' experience in the high-performance, heavy-duty and
off-highway automotive markets. Prominent in the development of
power electronics, electric motors and drives (PEMD) for these
demanding applications, he has successfully founded, scaled and
sold three businesses in the electric vehicle space. He is
currently CEO of eTech49 Limited, an advisory business specialising
in disruptive hardware technology in PEMD. In addition, he is
Chairman of EV North, an industry group representing the booming
electric vehicle industry in the north of England, a Board member
of the North East Local Enterprise Partnership and an advisor to a
number of corporations.
For the purposes of the AIM Rules for Companies, further details
of Nick Hopkins and Ryan Maughan are set out further below.
Board structure and governance
In the light of these executive appointments, the Board intends
to appoint an additional independent non-executive director to the
Board within the next six months.
The Board is, as always, mindful of the need to maintain an
appropriate cost structure for the Company whilst the SAW business
is in the commercialisation phase. Accordingly, the basic fees and
salaries of the Board as a whole have been agreed at levels that
continue to be affordable from existing budgets.
Investor Meet Company event on Tuesday 23 November 2021 at
2pm
As previously announced, Nigel Rogers (Executive Chairman) and
Melvyn Segal (Chief Financial Officer) will host an update for
investors after the AGM at 2pm today using the digital platform
Investor Meet Company. Nick Hopkins and Ryan Maughan will be
introduced at this event, and available to answer investor
questions.
To attend the event, investors can sign up to Investor Meet
Company for free and select to meet Transense Technologies plc via
the following link:
https://www.investormeetcompany.com/transense-technologies-plc/register-investor.
Investors who have already registered and selected to meet the
Company will automatically be invited to the event.
Questions can be submitted before the event to
transense@walbrookpr.com or in real time during the presentation
via the "Ask a Question" function.
Executive Chairman, Nigel Rogers, commented:
"We are delighted to welcome Nick and Ryan to the Board of
Transense. Under Nick's leadership over this past year, customer
and supplier relationships have been strengthened further, and our
engineering capabilities have been enhanced through key new staff
appointments. Ryan has provided invaluable input to our business
development capability through his involvement in SAWCAP, and we
are delighted that he is joining the Board to build on this early
success."
Director disclosures
The following information is disclosed pursuant to Rule 17 and
Schedule Two paragraph (g) of the AIM Rules for Companies:
Nicholas St John Hopkins (61 years of age) owns 23 ordinary
shares in the Company (representing 0.00014% of the Company's
issued ordinary shares). In addition, he holds 100,000 options to
acquire new ordinary shares in the Company, exercisable at a price
of 62 pence each between 24 June 2023 and 24 June 2030, and he has
now been granted a further 25,000 options to acquire new ordinary
shares in the Company, exercisable at nominal value of 10 pence per
share between 22 November 2024 and 22 November 2031, all subject to
the satisfaction of appropriate performance targets.
Mr Hopkins is currently a director of Sensaw Limited and during
the past five years has been a director of the following
companies:
AEL Communications Ltd
Antennares Sarl (France)
Astel Communications Sarl (France)
Communication Technical Services Limited
Hilomast LLC (USA)
Hilomast Ltd
MinnsBalluns Ltd
SMC Solutions LLC (USA)
SMC Spain SL (Spain)
South Midlands Communications Ltd
South Condominium Association, Inc. (USA)
SMC Spain SL (Spain)
Ryan Ellis Maughan (42 years of age) owns 5,365 ordinary shares
in the Company (representing 0.033% of the Company's issued
ordinary shares). In addition, he has been granted 50,000 options
to acquire new ordinary shares in the Company, exercisable at
nominal value of 10 pence per share between 22 November 2024 and 22
November 2031, subject to the satisfaction of appropriate
performance targets.
Mr Maughan is currently a director of eTech49 Limited and during
the past five years has been a director of the following
companies:
AVID TechnologyGroup Limited
AVID Technology Limited
AVID Innovation Limited
AVID Vehicles (Projects) Limited
AVID Thermal Technology Limited
AVID Electric Vehicles Limited
For further information please visit www.transense.com or
contact:
Transense Technologies plc Via Walbrook PR
Nigel Rogers (Executive Chairman)
Melvyn Segal (CFO)
Allenby Capital (Nominated Adviser and Tel: +44 (0)20 3328
Broker) 5656
Jeremy Porter/George Payne (Corporate Finance)
Tony Quirke (Sales and Corporate Broking)
Walbrook PR Tel: +44 (0)20 7933
Tom Cooper/Nick Rome 8780
Transense@walbrookpr.com
Notes to Editors:
Transense is a developer of specialist wireless sensor systems
used to enable real-time data gathering and monitoring. Products
include the patent protected Surface Acoustic Wave (SAW) sensor
technology, used to improve equipment power, performance,
reliability and efficiency; iTrack, Transense's Tyre Pressure
Monitoring System, licensed to Bridgestone Corporation, the world's
largest tyre producer, under a ten-year deal in June 2020; and a
range of intelligent tyre monitoring equipment under the Translogik
brand. Target sectors include aerospace, automotive (high
performance and off-road) and complex machine control.
The Group's strategy is to maximise shareholder value through
the delivery of sustained revenue growth from all three principal
technologies - SAW, iTrack and Translogik probes - through
leveraging excellence in innovation, know-how in commercialising
technologies, industry partnerships and exposure to global growth
markets.
Transense is headquartered in Oxfordshire, UK, and was admitted
to trading on AIM, a market operated by the
London Stock Exchange (AIM: TRT), in 1999. www.transense.com
For further information please contact transense@walbrookpr.com
.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTFEMESEEFSESF
(END) Dow Jones Newswires
November 23, 2021 02:00 ET (07:00 GMT)
Transense Technologies (AQSE:TRT.GB)
Gráfico Histórico do Ativo
De Dez 2024 até Jan 2025
Transense Technologies (AQSE:TRT.GB)
Gráfico Histórico do Ativo
De Jan 2024 até Jan 2025
