Posting of Annual Report and Notice of AGM

RNS Number : 0874G

Transense Technologies PLC

23 November 2020

 

23 November 2020

Transense Technologies plc

("Transense" or the "Company")

Posting of Annual Report and Accounts and Notice of AGM

Investor Presentation

Transense Technologies plc, the provider of specialist sensor systems, will today post to shareholders the Company's annual report and accounts for the year ended 30 June 2020 and a circular containing notice of the Company's annual general meeting ("AGM"), together with details of a proposed capital reduction and proposed changes to the Articles of Association.

The purpose of the capital reduction is to create distributable reserves. While the Company is not making a specific proposal, nor has any decision been taken as to the use of any such distributable reserves, this will have the effect of increasing the Company's flexibility to pay dividends and/or make market purchases of its own shares in the future, subject to the financial performance of the Company. The proposals regarding the capital reduction are conditional upon both the passing of a resolution at the AGM and Court approval being obtained.

A resolution will also be proposed at the AGM to adopt new articles of association for the Company, primarily to enable greater flexibility around the mechanics of convening and running general meetings, in case this is needed in the future.  Whilst the Company considers it is best to communicate with shareholders using physical meetings wherever possible, the recent outbreak of the Covid-19 pandemic has highlighted the need for greater flexibility. The new articles allow for a meeting to take place in more than one physical location and for participation via an electronic platform.

A copy of the annual report and accounts, the circular and the proposed new articles of association of the Company are available from the Company's website,  www.transense.com .

Details of the AGM

The AGM will be held on 17 December 2020 at 10.00 a.m. at the Company's offices at 1 Landscape Close, Weston on the Green, Oxfordshire OX25 3SX. Given the current COVID-19 pandemic and the associated UK Government measures, it will not be possible to hold an open AGM and accordingly the AGM this year will be run as a closed meeting. It will not be possible for shareholders to attend the AGM and the Company will not be able to grant entry to anyone seeking to attend the AGM in person. 

As the AGM will be a closed meeting, it will only be possible to vote by completing a Form of Proxy (or, in the case of CREST members, a CREST proxy instruction). Shareholders are strongly encouraged to vote and to appoint the chairman of the meeting as proxy to ensure their votes are counted.  The chairman of the meeting will direct that all resolutions will take place by way of a poll, rather than on a show of hands. The voting results of the proposed resolutions will be announced as soon as possible after the conclusion of the AGM.

Any shareholder wishing to ask questions regarding the business of the AGM is encouraged to submit their questions to the Board in advance by email to  [e-mail] . Where questions are received by 10.00 a.m. on 15 December 2020 direct responses will be provided in advance of the AGM. Where questions are received after this time, direct responses will be provided subsequently.

Investor Presentation

Nigel Rogers and Melvyn Segal will provide a short online presentation and an opportunity for further questions at 4.00 p.m. on 17 December 2020 using the digital platform Investor Meet Company. Investors can sign up to Investor Meet Company for free and register to meet Transense Technologies plc via the following link: www.investormeetcompany.com/transense-technologies-plc/register-investor .

For those investors who have already registered with Investor Meet Company ("IMC") and selected to meet the Company, they will automatically be invited to the presentation. Questions can be submitted pre-event via the IMC dashboard or in real time during the presentation, via the "Ask a Question" function. Whilst the Company may not be in a position to answer every question it receives, it will address the most prominent within the confines of information already disclosed to the market through regulatory notifications. A recording of the presentation, a PDF of the slides used, and responses to the Q&A session will be available on the Investor Meet Company platform afterwards.

For further information please contact:

Transense Technologies plc	Tel: [phone]
Nigel Rogers, Executive Chairman
Melvyn Segal, Chief Financial Officer
Allenby Capital Limited (Nominated Adviser and Broker)	Tel: [phone]
Jeremy Porter / James Reeve / Asha Chotai - Corporate Finance Tony Quirke - Sales

About Transense Technologies plc:

Based in Oxfordshire, UK, Transense has developed highly specialised sensor systems and supporting technology for use in a variety of diverse high growth markets.

It's iTrack technology, used for monitoring the tyre and vehicle performance of heavy duty off-road vehicles, was licensed to Bridgestone Corporation for a ten year term commencing in June 2020.

Transense's Surface Acoustic Wave (SAW) sensors are wireless and battery-less, and are used in the real-time measurement of torque, temperature and pressure to improve power, performance and efficiency. This patent-protected technology offers significant advantages over alternative measurement tools, and is particularly targeted towards the avionics, specialised automotive, green energy and industrial markets.

It's Translogik probe range comprises highly accurate tyre testing equipment which enables rapid data capture aimed at fleet managers and tyre service providers.

Further details are available at www.transense.com.

 

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