REG - Transense Technlgy - Appointment of Independent Non-Executive Director

Transense TechnologiesAnnouncement

26/06/2024 07:00

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RNS Number : 8643T  Transense Technologies PLC  26 June 2024

The information contained within this announcement is deemed by the Company to
constitute inside information pursuant to Article 7 of EU Regulation 596/2014
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 as amended. Upon the publication of this announcement,
this inside information is now considered to be in the public domain.

26 June 2024

Transense Technologies plc

("Transense" or the "Company")

 

Appointment of Independent Non-Executive Director

And

 Planned Director Retirement

 

Transense Technologies plc (AIM: TRT), the provider of specialist sensor
technology and measurement systems, is pleased to announce the appointment of
Craig Wilson as an additional independent non-executive director of the
Company with effect from 1 July 2024.

 

Craig joins the Board after stepping down from his role as Chief Executive
Officer at Williams Advanced Engineering ("WAE") last year, where he spent 10
years and led the development of the business from its foundations in Formula
One racing to provide innovative technology across a range of sectors,
becoming recognised as a leader in electrification and energy storage.  WAE
was acquired by Fortescue Metals Group in March 2022.

 

Prior to joining WAE, Craig held leadership positions in the automotive sector
in Australia at Walkinshaw Performance and Holden Special Vehicles.  He was
an independent non-executive director of Transport Research Foundation from
2014 to 2020 and Managing Director of TWR group until 2005.

 

Rodney Westhead, an independent non-executive Director, has confirmed that he
will not stand for re-election at the upcoming annual general meeting ("AGM")
of the Company, which is expected to be in November 2024.  Rodney indicated
his intention to retire from the Board last year having served as an
independent non-executive director since 2007.  He will continue to act as a
director and chair of the audit committee until his retirement at the AGM.

 

Executive Chairman, Nigel Rogers, commented:

 

"We are delighted to welcome Craig to the board.  He brings a wealth of
knowledge across our primary market sectors and has both strategic and
operational experience that is highly relevant. Under his 10 year leadership,
WAE grew annual revenues from £6m to £180m and staff numbers from 40 to
1,000, offering an insight into the challenges and opportunities presented in
scaling up an innovative organisation.

 

I would also like to take this opportunity to thank Rodney for his advice and
support in guiding Transense through its transitional phase since I became
Executive Chairman in 2020.  The Company is now poised for growth and
success, and has benefited substantially from Rodney's valuable input
throughout this crucial period."

 

The following additional information is provided in accordance with Rule 17
and Schedule Two paragraph (g) of the AIM Rules for Companies:

 

Craig Beresford Wilson is aged 59 and is, or has been during the previous five
years, a director or partner of the following companies or partnerships:

 

 Current Directorships or Partnerships  Previous Directorships or Partnerships within last five years
 C B Wilson Limited                     Fortescue Zero Limited

 Oxford Applied Technologies Limited    Hypebat Limited

 01194903 Limited                       Joule Bidco Limited

                                        Joule Midco Limited

                                        Joule Holdco Limited

                                        WAE Ventures Limited

                                        WAE Joint Ventures Limited

                                        Lion Red Racing Pty Limited (Australia)

                                        Transport Research Foundation

 

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

 Transense Technologies plc                                   Via Walbrook PR

 Nigel Rogers (Executive Chairman)

 Melvyn Segal (Chief Financial Officer)

 Ryan Maughan (Managing Director)
 Allenby Capital (Nominated Adviser and Broker)               Tel: +44 (0)20 3328 5656

 Jeremy Porter/George Payne (Corporate Finance)

 Stefano Aquilino/Tony Quirke (Sales and Corporate Broking)
 Walbrook PR                                                  Tel: +44 (0)20 7933 8780

 Tom Cooper/Nick Rome/Joseph Walker                           Transense@walbrookpr.com

 

Notes to Editors:

Transense is a developer of specialist sensor technology and measurement
systems.  The Company has two active business divisions:

 

·     Translogik a range of smart, connected tyre inspection and
management equipment, used by leading tyre manufacturers, dealers and fleet
operators to reduce costs and improve safety; and

 

·     SAWsense, developing Surface Acoustic Wave (SAW) sensor technology,
to improve performance, reliability and efficiency in focus markets of
aerospace, automotive, robotics and industrial machinery.

 

In addition, the Company earns residual royalty income from Bridgestone iTrack
(new branding name for iTrack), a tyre condition and performance monitoring
system, that was developed by Translogik and subsequently licensed to
Bridgestone Corporation for a ten year period in 2020, expiring in 2030.

 

The Group's strategy is to maximise shareholder value through the delivery of
sustained revenue growth from its business divisions by leveraging excellence
in innovation and know-how to commercialise technologies through 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
(mailto:transense@walbrookpr.com) .

 

 

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