Transense Technologies PLC Grant of share options to Director and employee (3089V)

TIDMTRT

RNS Number : 3089V

Transense Technologies PLC

01 December 2023

1 December 2023

Transense Technologies plc

("Transense", or the "Company")

Grant of share options to Director and employee

Transense Technologies plc, the provider of specialist sensing solutions and measurement systems, announces that it has today granted 125,000 options to acquire ordinary shares of 10 pence each in the Company ("Ordinary Shares") to an employee and a Director (the "Options").

In accordance with the Company's share scheme, the Options have an exercise price of 10 pence per Ordinary Share, being nominal value of an Ordinary 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 Ordinary Share for ten consecutive trading days at any time. The remaining one third of the Options are only exercisable in full if the share price exceeds 200 pence per Ordinary 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.

Following these grants there are 1,567,500 unexercised share options over Ordinary Share in issue, representing approximately 9.54% of the current issued share capital of the Company.

Included in the above grant of options are 75,000 options granted to Ryan Maughan, a Director of the Company, taking his total unexercised share options to 225,000.

Further details are provided in the forms below in accordance with the requirements of the UK Market Abuse Regulation.

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

 
 Transense Technologies plc                 Via Walbrook PR 
  Nigel Rogers (Executive Chairman) 
  Melvyn Segal (CFO) 
 Allenby Capital (Nominated Adviser and     Tel: [phone] 
  Broker)                                    5656 
  Jeremy Porter / George Payne (Corporate 
  Finance) 
  Stefano Aquilino / Tony Quirke (Sales & 
  Corporate Broking) 
 Walbrook PR                                Tel: [phone] 
  Tom Cooper/Nick Rome/Joe Walker            8780 
                                             [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      Initial 
       /Amendment 
     ------------------------  ----------------------------------------- 
 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               Options over Ordinary shares of 10 pence 
       of the financial          each 
       instrument, 
       type of instrument 
 
      Identification            GB00BDHDTH21 
       code 
 
 b)   Nature of the             Grant of options 
       transaction 
     ------------------------  ----------------------------------------- 
 c)   Price and volume          Exercise Price(s) 10p 
                                 Volume(s) 75,000 
     ------------------------  ----------------------------------------- 
 d)   Aggregated information 
 
      - Aggregated              As above 
       volume 
 
      - Price 
 
 e)   Date of the               1 December 2023 
       transaction 
     ------------------------  ----------------------------------------- 
 f)   Place of the              Outside a trading venue 
       transaction 
     ------------------------  ----------------------------------------- 
 

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December 01, 2023 02:00 ET (07:00 GMT)