Transense Regulatory News (TRT)

Transense Technologies plc

("Transense", or "the Company")

AGM Trading Update

Launch of new website

Investor Presentation

Transense Technologies plc (AIM: TRT), the developer of specialist sensor systems, announces the following trading update ahead of its Annual General Meeting, being held at 10 a.m. today.

Trading update

Revenues from Surface Acoustic Wave (SAW) technology and Translogik probe products are substantially ahead of the modest level achieved in the equivalent period last year. Additionally, the rate of royalty income from iTrack has been increasing as expected, with expectations of further growth as the licencee continues to implement its roll-out and marketing strategy. The net result for the financial year to date is around break even and cash neutral, in line with management expectations, and the Board is optimistic about the outlook for the full year and beyond.

SAWCAP

The newly formed SAW Commercial Advisory Panel ("SAWCAP") held its first group meeting last week. The role of SAWCAP is to provide advice to the Board and management in support of i) the development of commercial strategy; ii) the implementation of sales and marketing activities to promote revenue growth; and iii) to forge strategic alliances that enhance long term shareholder value, with a particular focus on the Company's SAW technology. 

The initial observations of SAWCAP indicate that the commercial opportunities for SAW technology span a broad range of sectors, and are driven by the utilisation of real time data to monitor and enhance performance, diagnose condition and faults, and reduce energy consumption. The target markets previously identified in the SAW strategic business plan have been validated, and in each market there are several potential applications and customers. Work has now commenced to evaluate and prioritise which areas are both technically feasible and most likely to generate significant commercial value over the medium term.

Our parallel short term objective is to establish projects which enable the SAW business to cover its directly attributable costs, without reliance on other sources of group income. In the meanwhile, project costs and operating overheads are manageable, and will only be increased in a controlled manner as future success becomes more tangible.

Launch of new website

The Company has today launched a major revamp of its website, www.transense.com, with enhancements to the range and presentation of information on the Company and its business and improved navigation tools. The new website also provides investors with an opportunity to register their interest in receiving updates on the Company and access to equity research reports on the Company. In addition, the website continues to contain the information required to be disclosed pursuant to Rule 26 of the AIM Rules for Companies.

Executive Chairman, Nigel Rogers, commented:

"We have taken some important first steps in building sustainable long term value for all of our stakeholders. We are now operating from a secure financial platform, with clear visibility of future revenue growth and medium term commercial opportunities to enhance these returns."

AGM Investor Presentation: 4.00pm today, Thursday 17 December 2020

Nigel Rogers (Executive Chairman) and Melvyn Segal (Chief Financial Officer) will hold a presentation about Transense and its prospects at 4.00pm today, Thursday 17 December 2020. The presentation will be hosted through the digital platform Investor Meet Company. Investors can sign up to Investor Meet Company for free and add to meet Transense Technologies plc via the following link: https://www.investormeetcompany.com/transense-technologies-plc/register-investor. Investors who have already registered and added to meet the Company will automatically be invited.

Questions can be submitted pre-event to transense@walbrookpr.com or in real time during the presentation via the "Ask a Question" function. 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

For further information please visit www.transense.com or contact:

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, recently licensed to Bridgestone Corporation, the world's largest tyre producer, under a ten-year deal; and a range of intelligent tyre monitoring equipment under the Translogik brand. Target sectors include automotive, aerospace, industrial, green energy, rail and marine.

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.