Grant of share options to Director and employees

RNS Number : 2274U

Transense Technologies PLC

27 March 2023

 

Transense Technologies plc

("Transense", or "the Company")

Grant of share options to Director and employees

Transense Technologies plc (AIM: TRT), the provider of specialist sensor systems, announces that it has today granted 200,000 options to acquire ordinary shares in the Company to employees and a Director (the "Options").

In accordance with the Company's share scheme, the Options have an exercise price at nominal value of 10 pence per share and can be exercised after three years until the tenth anniversary of the grant.  Two thirds of the options are only exercisable if the Company's share price exceeds 150 pence per share for ten consecutive trading days at any time. The remaining one third are only exercisable in full if the share price exceeds 200 pence per share for ten consecutive trading days at any time, with none of this tranche being exercisable if the share price has not exceeded 150 pence per share for ten consecutive trading days and a pro-rata amount will be exercisable between these two share price targets.

Since the last audited financial statements of the Company, for the year ended 30 June 2022, a total of 332,000 options have lapsed. Accordingly, following this announcement there are 1,462,500 unexercised share options over ordinary shares in issue, representing approximately 8.90% of the current issued share capital of the Company.

Included in the above grant of options are 100,000 options granted to Ryan Maughan, a director of the Company, taking his total unexercised share options to 150,000.

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

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

Notes to Editors:

Transense is a developer of specialist wireless sensor systems used to enable real-time data gathering and monitoring.  Products include the patent protected Surface Acoustic Wave (SAW) sensor technology, used to improve equipment power, performance, reliability and efficiency; iTrack, Transense's Tyre Pressure Monitoring System, licensed to Bridgestone Corporation, the world's largest tyre producer, under a ten-year deal in June 2020; and a range of intelligent tyre monitoring equipment under the Translogik brand. Target sectors include aerospace, automotive (high performance and off-road) and complex machine control.

The Group's strategy is to maximise shareholder value through the delivery of sustained revenue growth from all three principal technologies - SAW, iTrack and Translogik probes - through leveraging excellence in innovation, know-how in commercialising technologies, 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 [e-mail].

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	Business Development Director
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctio n eer 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 instr u ment, type of i n strument	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) 100,000
d)	Aggregated info r mation
	- Aggregated vo l ume	As above
	- Price
e)	Date of the transa c tion	27 March 2023
f)	Place of the tran s action	Outside a trading venue

 

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