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
or contact:
|
Transense
Technologies plc
Nigel Rogers (Executive Chairman)
Melvyn Segal (Chief Financial Officer)
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Via Walbrook PR
|
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Allenby Capital
(Nominated Adviser and Broker)
Jeremy Porter/George Payne (Corporate Finance)
Stefano Aquilino/Tony Quirke (Sales and Corporate
Broking)
|
Tel: +44 (0)20 3328
5656
|
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Walbrook
PR
Tom Cooper/Nick Rome/Joesph Walker
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Tel: +44 (0)20 7933
8780
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
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1
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Details of the person discharging managerial responsibilities
/ person closely associated
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a)
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Name
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Ryan Maughan
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2
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Reason for the notification
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a)
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Position/status
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Managing Director
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b)
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Initial notification
/Amendment
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Initial
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3
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Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
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a)
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Name
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Transense Technologies
plc
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b)
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LEI
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2138005N52J6KKQ3EY67
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4
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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
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a)
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Description of the financial
instrument, type of instrument
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Options over Ordinary shares of 10
pence each
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Identification code
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GB00BDHDTH21
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b)
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Nature of the
transaction
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Grant of options
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c)
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Price and volume
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Exercise
Price(s) 10p
Volume(s) 125,000
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d)
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Aggregated information
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- Aggregated volume
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As above
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- Price
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e)
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Date of the transaction
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16 July 2024
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f)
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Place of the transaction
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Outside a trading venue
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