Appointment of Independent Non-Executive Director

The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

26 June 2024

Transense Technologies plc

("Transense" or the "Company")

Appointment of Independent Non-Executive Director

And

 Planned Director Retirement

Transense Technologies plc (AIM: TRT), the provider of specialist sensor technology and measurement systems, is pleased to announce the appointment of Craig Wilson as an additional independent non-executive director of the Company with effect from 1 July 2024.

Craig joins the Board after stepping down from his role as Chief Executive Officer at Williams Advanced Engineering ("WAE") last year, where he spent 10 years and led the development of the business from its foundations in Formula One racing to provide innovative technology across a range of sectors, becoming recognised as a leader in electrification and energy storage.  WAE was acquired by Fortescue Metals Group in March 2022. 

Prior to joining WAE, Craig held leadership positions in the automotive sector in Australia at Walkinshaw Performance and Holden Special Vehicles.  He was an independent non-executive director of Transport Research Foundation from 2014 to 2020 and Managing Director of TWR group until 2005.

Rodney Westhead, an independent non-executive Director, has confirmed that he will not stand for re-election at the upcoming annual general meeting ("AGM") of the Company, which is expected to be in November 2024.  Rodney indicated his intention to retire from the Board last year having served as an independent non-executive director since 2007.  He will continue to act as a director and chair of the audit committee until his retirement at the AGM.

Executive Chairman, Nigel Rogers, commented:

"We are delighted to welcome Craig to the board.  He brings a wealth of knowledge across our primary market sectors and has both strategic and operational experience that is highly relevant. Under his 10 year leadership, WAE grew annual revenues from £6m to £180m and staff numbers from 40 to 1,000, offering an insight into the challenges and opportunities presented in scaling up an innovative organisation.

I would also like to take this opportunity to thank Rodney for his advice and support in guiding Transense through its transitional phase since I became Executive Chairman in 2020.  The Company is now poised for growth and success, and has benefited substantially from Rodney's valuable input throughout this crucial period."

The following additional information is provided in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies:

Craig Beresford Wilson is aged 59 and is, or has been during the previous five years, a director or partner of the following companies or partnerships:

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

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

For further information please contact [email protected].

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