REG - Transense Technlgy - AGM Trading Update

Transense TechnologiesAnnouncement

01/12/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221201:nRSA1286Ia&default-theme=true

RNS Number : 1286I  Transense Technologies PLC  01 December 2022

Transense Technologies plc

("Transense", or "the Company")

 

AGM Trading Update

Transense Technologies plc, the provider of specialist sensor systems,
announces the following trading update ahead of its Annual General Meeting to
be held at 10 a.m. today.

Trading Update

Revenues in the first five months of the current financial year to 30 November
2022 are in line with the Board's expectations, and approximately one third up
on the level achieved in the same period last year.

Trading continues to be profitable with positive operating cashflow. Net cash
at 30 November was approximately £0.80 million (30 June 2022: £1.06
million), reflecting a further investment in share buybacks of £0.1 million
and a substantial increase in Translogik inventory to satisfy both existing
and pipeline levels of demand.

Commercial development opportunities across all three segments of the
Company's business show good prospects for further growth as the financial
year progresses.

Since the announcement of a £650,000 share buyback programme on 27 September
2022, the Company has acquired 110,000 shares for treasury at a total cost of
£97,000.  The remainder of £553,000 is available for further such purchases
subject to shareholder approval at today's AGM.

Site Visit & Presentation

The AGM will be held at 10 a.m. today at 1 Landscape Close, Weston on the
Green, Oxfordshire, OX25 3SX.  Following the AGM there will be a
presentation and site visit for those who have pre-registered.  There will be
no new price sensitive information disclosed during the presentation. A copy
of the presentation will be made available on the Company's website from
approximately midday today.

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 Broker)   Tel: +44 (0)20 3328 5656

 Jeremy Porter/George Payne (Corporate Finance)

 Tony Quirke (Equity Sales)
 Walbrook PR                                      Tel: +44 (0)20 7933 8780

 Tom Cooper/Nick Rome/Joe Walker                  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.

For further information please contact transense@walbrookpr.com or visit
www.transense.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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTBUBDBSXXDGDG