Grant of Share Options

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 or contact:

Transense Technologies plc Nigel Rogers (Executive Chairman) Melvyn Segal (Chief Financial Officer)	Via Walbrook PR
Allenby Capital (Nominated Adviser and Broker) Jeremy Porter/George Payne (Corporate Finance) Stefano Aquilino/Tony Quirke (Sales and Corporate Broking)	Tel: [phone]
Walbrook PR Tom Cooper/Nick Rome/Joesph Walker	Tel: [phone] [e-mail]

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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