REG - Transense Technlgy - Grant of Share Options

Transense TechnologiesAnnouncement

17/07/2024 07:00

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RNS Number : 6514W  Transense Technologies PLC  17 July 2024

Transense Technologies plc

("Transense" or the "Company")

 

 Grant of share options

 

 

Transense Technologies plc (AIM: TRT), the provider of specialist sensor
technology and measurement systems, announces that on 16 July 2024, the
Company's remuneration committee (the "Remuneration Committee") approved the
grant of 125,000 share options (the "Options") to acquire ordinary shares of
10 pence each in the Company ("Ordinary Shares") to Ryan Maughan, the
Company's Managing Director.

 

In accordance with the Company's share option scheme, the Options have an
exercise price of 10 pence per Ordinary Share, being the nominal value of an
Ordinary Share, and can be exercised after three years until the tenth
anniversary of the grant (or earlier on a change of control) subject to the
adjusted profit before taxation of the Company (excluding the contribution
from the iTrack royalty) being above break even for the calendar year 2026.

 

Ryan Maughan is now interested in a total of 350,000 unexercised share options
over Ordinary Shares in the Company.

 

This grant of Options brings the total number of unexercised options over
Ordinary Shares as at 16 July 2024 to 1,767,500, representing 10.75% of the
Company's issued share capital. The Board has previously indicated a guideline
that options will be granted within an overall limit of 10% of the Company's
issued share capital in any ten year period.  Following consultation with
major shareholders, the Board now considers it appropriate to increase the
overall headroom to 15% in ten years.

 

The Company's remuneration policy utilises share options as an element of
remuneration for all employees, and a significant element of remuneration for
the executive directors and other members of the senior management team.  The
Remuneration Committee consider that an increase in headroom is appropriate
because this policy promotes:

 

1. creation of long term shareholder value through effective alignment of
management objectives;

2. enhanced recruitment, retention and reward of executive talent;

3. focus on performance and business improvement across the organisation;

4. meaningful widespread equity participation for all; and

5. cost effective and tax efficient remuneration.

 

Full details will be set out in the remuneration report in the Company's
annual report for the year ending 30 June 2024, which will be subject of an
indicative vote of shareholders at the annual general meeting which is
expected to take place in November 2024.

 

For further information please visit https://www.transense.com
(https://www.transense.com) or contact:

 

 Transense Technologies plc                                   Via Walbrook PR

 Nigel Rogers (Executive Chairman)

 Melvyn Segal (Chief Financial Officer)
 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/Joesph 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

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Ryan Maughan

 2    Reason for the notification

 a)   Position/status                                              Managing Director

 b)   Initial notification /Amendment                              Initial

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Transense Technologies plc

 b)   LEI                                                          2138005N52J6KKQ3EY67

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted

 a)   Description of the financial instrument, type of instrument  Options over Ordinary shares of 10 pence each

      Identification code                                          GB00BDHDTH21

 b)   Nature of the transaction                                    Grant of options

 c)   Price and volume                                             Exercise Price(s) 10p

                                                                   Volume(s) 125,000
 d)   Aggregated information

      - Aggregated volume                                          As above

      - Price

 e)   Date of the transaction                                      16 July 2024

 f)   Place of the transaction                                     Outside a trading venue

 

 

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