Last checked at 31 Jul 2017 07:00
Transense Technologies plc
("Transense" or the "Company")
Trading Update
Appointment of Joint Broker
Transense Technologies plc, the AIM listed company focused on patent-protected sensor systems and supporting technology is pleased to provide a trading update for the year ended 30 June 2017.
The trading results for the year ended 30 June 2017 are expected to be marginally ahead of the Board's expectations as revised on the release of the interim results in March, with revenues of approximately GBP2M, and closing cash balances of GBP2.5M.
In addition, the Company announces the appointment of Beaufort Securities Limited ("Beaufort") as joint broker to the Company to improve the service available to the large group of private investors interested in Transense. Beaufort look forward to marketing Transense to its network of UK retail and HNW investors, including providing retail tailored research on Transense as part of its ongoing services to the Company.
Graham Storey, CEO of Transense, commented: "I am delighted that the new iTrack II is gaining traction as evidenced by the recent announcements relating to Glencore and that our numbers are ahead of expectations. The appointment of Beaufort fits perfectly with our marketing strategy to open up Transense to a wider investment audience and enhance communication with our current retail shareholders."
For further information please visit www.transense.co.uk or contact:
Transense Technologies plc Graham Storey, Chief Executive
| Tel: +44 1869 238 380 |
finnCap Ed Frisby, Giles Rolls (Corporate Finance) Tony Quirke, Alice Lane (Corporate Broking)
Beaufort Securities Ltd Elliot Hance (Corporate Broking)
| Tel: +44 20 7220 0500
Tel: +44 207 382 8300 |
IFC Advisory Tim Metcalfe, Graham Herring, Heather Armstrong | Tel: +44 20 3053 8671 |
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014
About Transense Technologies
Based in Oxfordshire, UK, Transense has developed patent-protected sensor systems and supporting technology for use in a variety of diverse high growth markets. Transense's Surface Acoustic Wave (SAW) wireless, battery-less, sensor systems offer significant advantages over legacy wireless sensor systems. Transense is targeting the global transport and mining industries, and the global torque, temperature and pressure sensing markets, via its two trading divisions,Translogik and SAWSense.
Transense's shares are admitted to trading on AIM, a market operated by the London Stock Exchange (AIM: "TRT").
www.transense.co.uk