Transense Technologies PLC AGM Statement (8816P)
November 23 2016 - 1:00AM
UK Regulatory
TIDMTRT
RNS Number : 8816P
Transense Technologies PLC
23 November 2016
23 November 2016
Transense Technologies plc
("Transense" or the "Company")
AGM Statement
At the Company's Annual General Meeting ("AGM") being held at 2
p.m. today at finnCap's offices, 60 New Broad Street, London, EC2M
1JJ, the Chairman, David Ford, will make the following
statement:
"Trading since the start of our financial year in July has
generated total revenue at a similar level to the corresponding
period last year (excluding the prior year IntelliSAW disposal
license fee).
The launch of iTrack II at Minexpo, in Las Vegas, in September,
has generated an encouraging response. A number of pilot
installations have already commenced, while others are scheduled to
commence over the next month or two. We continue to anticipate
receiving orders in the second half of the year.
Testing of our Surface Acoustic Wave ("SAW") technology for
certain torque sensing applications with GE continues to yield
positive results and indications are that the testing programme
will conclude during Q1 2017.
The US$0.4m balance of proceeds from the sale of IntelliSAW to
Emerson in October 2015 has been received in full. Cash flow for
the year to date has been positive, giving rise to an increase in
net cash to GBP3.95m as at 31 October.
Accordingly, the board maintains a cautiously optimistic view of
the short term outlook and remains confident of the longer term
prospects for the Company."
For further information, please contact:
Transense Technologies plc Tel: +44 1869 238 380
Graham Storey, Chief Executive
finnCap Tel: +44 20 7220 0500
Ed Frisby, Giles Rolls (Corporate
Finance)
Tony Quirke, Alice Lane
(Corporate Broking)
IFC Advisory Tel: +44 20 3053 8671
Tim Metcalfe, Graham Herring,
Heather Armstrong
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. Transense's Surface
Acoustic Wave (SAW) wireless, battery-less, sensor systems offer
significant advantages over legacy wireless sensor systems.
Transense is targeting the global transport and mining industries,
and the global torque, temperature and pressure sensing markets,
via its two trading divisions,Translogik and SAWSense.
Transense's shares are admitted to trading on AIM, a market
operated by the London Stock Exchange (AIM: "TRT").
This information is provided by RNS
The company news service from the London Stock Exchange
END
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