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. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
26 June 2024
Transense Technologies plc
("Transense" or the
"Company")
Appointment of Independent
Non-Executive Director
And
Planned Director
Retirement
Transense Technologies plc (AIM:
TRT), the provider of specialist sensor technology and measurement
systems, is pleased to announce the appointment of Craig Wilson as
an additional independent non-executive director of the Company
with effect from 1 July 2024.
Craig joins the Board after stepping
down from his role as Chief Executive Officer at Williams Advanced
Engineering ("WAE") last year, where he spent 10 years and led the
development of the business from its foundations in Formula One
racing to provide innovative technology across a range of sectors,
becoming recognised as a leader in electrification and energy
storage. WAE was acquired by Fortescue Metals Group in March
2022.
Prior to joining WAE, Craig held
leadership positions in the automotive sector in Australia at
Walkinshaw Performance and Holden Special Vehicles. He was an
independent non-executive director of Transport Research Foundation
from 2014 to 2020 and Managing Director of TWR group until
2005.
Rodney Westhead, an independent
non-executive Director, has confirmed that he will not stand for
re-election at the upcoming annual general meeting ("AGM") of the
Company, which is expected to be in November 2024. Rodney
indicated his intention to retire from the Board last year having
served as an independent non-executive director since 2007.
He will continue to act as a director and chair of the audit
committee until his retirement at the AGM.
Executive Chairman, Nigel Rogers, commented:
"We are delighted to welcome Craig to the board. He
brings a wealth of knowledge across our primary market sectors and
has both strategic and operational experience that is highly
relevant. Under his 10 year leadership, WAE grew annual revenues
from £6m to £180m and staff numbers from 40 to 1,000, offering an
insight into the challenges and opportunities presented in scaling
up an innovative organisation.
I
would also like to take this opportunity to thank Rodney for his
advice and support in guiding Transense through its transitional
phase since I became Executive Chairman in 2020. The Company
is now poised for growth and success, and has benefited
substantially from Rodney's valuable input throughout this crucial
period."
The following additional information
is provided in accordance with Rule 17 and Schedule Two paragraph
(g) of the AIM Rules for Companies:
Craig Beresford Wilson is aged 59
and is, or has been during the previous five years, a director or
partner of the following companies or partnerships:
|
Current Directorships or Partnerships
|
Previous Directorships or Partnerships within last five
years
|
|
C B Wilson Limited
Oxford Applied Technologies
Limited
01194903 Limited
|
Fortescue Zero Limited
Hypebat Limited
Joule Bidco Limited
Joule Midco Limited
Joule Holdco Limited
WAE Ventures Limited
WAE Joint Ventures Limited
Lion Red Racing Pty Limited
(Australia)
Transport Research
Foundation
|
For further information please
visit www.transense.com or contact:
|
Transense Technologies plc
Nigel Rogers (Executive
Chairman)
Melvyn Segal (Chief Financial
Officer)
Ryan Maughan (Managing
Director)
|
Via
Walbrook PR
|
|
Allenby Capital (Nominated Adviser
and Broker)
Jeremy Porter/George Payne (Corporate
Finance)
Stefano Aquilino/Tony Quirke (Sales
and Corporate Broking)
|
Tel: +44
(0)20 3328 5656
|
|
Walbrook PR
Tom Cooper/Nick Rome/Joseph
Walker
|
Tel: +44
(0)20 7933 8780
Transense@walbrookpr.com
|
Notes to Editors:
Transense is a developer of
specialist sensor technology and measurement systems. The
Company has two active business divisions:
·
Translogik a range of smart, connected tyre
inspection and management equipment, used by leading tyre
manufacturers, dealers and fleet operators to reduce costs and
improve safety; and
·
SAWsense, developing Surface Acoustic Wave (SAW)
sensor technology, to improve performance, reliability and
efficiency in focus markets of aerospace, automotive, robotics and
industrial machinery.
In addition, the Company earns
residual royalty income from Bridgestone iTrack (new branding name
for iTrack), a tyre condition and performance monitoring system,
that was developed by Translogik and subsequently licensed to
Bridgestone Corporation for a ten year period in 2020, expiring in
2030.
The Group's strategy is to maximise
shareholder value through the delivery of sustained revenue growth
from its business divisions by leveraging excellence in innovation
and know-how to commercialise technologies through 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.
