TIDMTRT

RNS Number : 7146A

Transense Technologies PLC

27 September 2022

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

27 September 2022

Transense Technologies plc

("Transense", or "the Company")

Share Repurchase Programme

Transense Technologies plc (AIM: TRT), the developer of specialist sensor systems, is pleased to announce that it will commence a programme to conduct market purchases of ordinary shares of 10 pence each in the Company ("Ordinary Shares") up to a maximum aggregate purchase price of GBP650,000 (the "Programme").

The Company has entered into an arrangement with Shard Capital Stockbrokers ("Shard") in relation to the Programme where Shard will make the trading decisions concerning the timing of the market purchases of Ordinary Shares independently of and uninfluenced by the Company, with such trading decisions being in accordance with the terms of the Programme. Purchases may continue during any periods during the term of the Programme when the Company itself would be prohibited from dealing by the UK version of the Market Abuse Regulation 596/2014/EU (which is part of UK law by virtue of the European Union (Withdrawal) Act 2018) ("UK MAR"). The Company reserves the right to terminate the Programme if at any time it deems this to be appropriate and would make an announcement in advance of so doing.

The Company confirms that it currently has no unpublished inside information.

The Programme will commence today, 27 September 2022, and will continue until 30 November 2023 unless terminated earlier.

The Programme will be conducted by the Company in accordance with and under the terms of the general authority granted by the Company's shareholders at the Company's Annual General Meeting on 23 November 2021 to purchase up to 1,643,774 Ordinary Shares. This authority will expire at the earlier of the end of the next Annual General Meeting of the Company or 23 February 2023. Purchases under the Programme prior to the Annual General Meeting of the Company to be held on 1 December 2022 will be restricted to an aggregate of GBP150,000, and the balance of the Programme will continue after the Annual General Meeting subject to renewal of the appropriate authority by the shareholders.

Any market purchases will be conducted in compliance with the following restrictions regarding price conditions:

-- the minimum price (exclusive of any expenses) at which any Ordinary Share may be purchased shall be its nominal value of 10 pence

-- the maximum price (exclusive of any expenses) at which any Ordinary Share may be purchased shall be the higher of: (i) an amount equal to 5 per cent, above the average of the middle market quotations of an Ordinary Share as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the date of such purchase, and (ii) the higher of the price of the last independent trade and the highest current independent bid on the trading venue where the purchase is carried out.

Due to the limited liquidity in the Ordinary Shares, any market purchase of Ordinary Shares pursuant to the Programme on any trading day could represent a significant proportion of the daily trading volume in the Ordinary Shares on AIM and could exceed 25 per cent. of the average daily trading volume. This means that the Company will not benefit from the exemption contained in Article 5(1) of UK MAR.

The objective of the Programme is to offset the dilutive impact of share awards to directors and employees.

Ordinary Shares acquired as a result of the Programme will be held by the Company in treasury and in accordance with the Companies Act 2006, will not have any voting rights. It is anticipated that any Ordinary Shares held in treasury but surplus to unexercised option requirements from time to time will be cancelled.

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 Broker)      Tel: +44 (0)20 
  Jeremy Porter / George Payne (Corporate Finance)    3328 5656 
  Tony Quirke (Sales & Corporate Broking) 
 Walbrook PR                                         Tel: +44 (0)20 
  Tom Cooper / Nick Rome                              7933 8780 
                                                      Transense@walbrookpr.com

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, electric motors & drives, industrial machinery and performance automotive.

The Company '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   transense@walbrookpr.com .

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September 27, 2022 02:02 ET (06:02 GMT)

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