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LONDON (Alliance News) - Transense Technologies PLC Thursday said Non-Executive Deputy Chairman Nigel Rogers bought 1 million shares on Wednesday.
The shares were purchased at a price of 1.4p each with 500,000 to be held by Rogers and 500,000 to be held by his wife.
Following this transaction, the beneficial holding of Nigel Rogers totals 3 million shares representing approximately 0.6 % of the issued share capital.
Transense, which provides transportation sensor systems, said Wednesday it agreed to sell its loss-making IntelliSAW division to US manufacturer Emerson Electric Co for USD5 million. Transense also will get a one-off licence fee for the exclusive use for intellectual property related to the IntelliSAW business. The total sum payable to Transense net of all costs in sterling will be GBP2.9 million, it said.
The stock was up 6.5% at 1.65p Thursday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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