Transense Technologies PLC Changes to Board responsibilities (3979D)
19 Febbraio 2020 - 8:00AM
UK Regulatory
TIDMTRT
RNS Number : 3979D
Transense Technologies PLC
19 February 2020
19 February 2020
Transense Technologies plc
("Transense" or the "Company")
Changes to Board responsibilities
Transense Technologies plc, the provider of sensor systems for
the industrial, mining and transportation markets, announces
changes to Board responsibilities with immediate effect.
On 13 February 2020, Transense announced that it had extended
the duration of the Joint Collaboration Agreement with Bridgestone
Corporation ("the Agreement") by which Bridgestone offers the
iTrack system exclusively as a mining tyre monitoring system for
tyres 57 inches and above for its off-the-road (OTR) customers. The
Agreement was extended until February 2022 at the earliest, and the
period during which Transense undertake not to have discussions
with other parties in relation to any merger, acquisition or joint
venture in respect of the iTrack business was extended until 30
April 2020.
David Ford, Executive Chairman of Transense, has undertaken a
leading role in building our close working relationship with our
partners at Bridgestone, and positioning iTrack for a period of
strong growth. He has now decided to step down as Chairman of the
Transense board in order to devote his full attention to delivering
further success as the Chief Executive of the iTrack business. He
will remain a member of the Transense board.
He is replaced as Non-executive Chairman of the Transense board
by Nigel Rogers, who has been Deputy Chairman of Transense since
July 2015.
David Ford commented, "I have found myself focusing more and
more on iTrack as the demands of that business have been
increasing. The business has reached a stage in its development
where it really isn't possible to devote the time needed as well as
discharge effectively the responsibilities of the Chair. I am very
excited by the prospects ahead."
Nigel Rogers commented, "I am delighted to be taking
responsibility as Chairman at a pivotal time in the
commercialisation of our leading technologies in iTrack and Surface
Acoustic Wave sensing. On behalf of the Board, I would like to take
this opportunity to thank David for his leadership over many years.
We look forward to continue working closely together to take full
advantage of the excellent platform that has been built for the
future."
For further information please visit www.transense.co.uk or contact:
Transense Technologies plc Tel: +44 (0) 1869
Nigel Rogers, Non-executive Chairman 238380
Melvyn Segal, Chief Financial Officer nigel.rogers@transense.co.uk
finnCap Tel: +44 (0) 20 7220
Ed Frisby, Giles Rolls, Matthew Radley 0500
(Corporate Finance)
Tim Redfern, Tim Harper (ECM)
About iTrack
The iTrack Mining system provides real-time data on the
condition of the tyres, combined with live tracking of vehicle
location and status. Our 24/7 Control Room monitors the pressures
and temperatures live, and this information can, for example, be
used to ensure tyres do not exceed critical heat thresholds, to
detect incorrect load distributions, predict suspension failures
and eliminate manual tyre pressure checks. The Directors believe
that these benefits maximise the hours a truck is working (Truck
Uptime) and improve productivity by minimising maintenance
requirements and using data to identify underperforming trucks.
www.trans-logik.com/itrack-2/
About Transense Technologies
Based in Oxfordshire, UK, Transense has developed
patent-protected sensor systems and supporting technology for use
in a variety of diverse high growth markets. The Directors believe
that Transense's Surface Acoustic Wave (SAW), wireless,
battery-less, sensor systems offer advantages over legacy wireless
sensor systems. Transense is targeting the transport and mining
industries, and the global torque, temperature and pressure sensing
markets, via its trading divisions, Translogik and SAWSense.
www.transense.co.uk
Transense's shares are admitted to trading on AIM (AIM:
TRT).
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END
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