Last checked at 17 Dec 2020 13:19
Transense Technologies plc
("Transense", or "the Company")
Result of AGM
Transense Technologies plc (AIM: TRT), the developer of specialist sensor systems, announces that at its Annual General Meeting held today all resolutions were duly passed. The proxy voting results for the resolutions will be available on the Company's website in due course at www.transense.com.
Reduction of capital and ability to pay dividends and buy own shares:
With the passing of the relevant resolutions at the AGM in respect of the capital reduction, the Company will apply for Court approval to proceed with the proposed reduction of capital involving the cancellation of the deferred shares and the share premium account. Approval of the Courts is anticipated on or around 27 January 2021, at which time the adjusted opening distributable reserves of the Company are expected to amount to £0.51m.
Full details were included in the circular to shareholders published on 23 November 2020.
For further information please visit www.transense.com or contact:
Transense Technologies plc Nigel Rogers (Executive Chairman) Melvyn Segal (CFO) | Via Walbrook PR |
Allenby Capital (Nominated Adviser and Broker) Jeremy Porter/James Reeve (Corporate Finance) Tony Quirke (Equity Sales) | Tel: +44 (0)20 3328 5656 |
Walbrook PR Tom Cooper/Nick Rome/Nicholas Johnson | Tel: +44 (0)20 7933 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, 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.