Transense Technologies plc (the 'Company' or 'Transense')
Re Directorate Changes
11 January 2010
The board of Transense (the "Board") wishes to announce that Norman Smith, Joint
CEO, and Melvyn Segal, Finance Director, will be stepping down from their
respective Executive positions and taking up Non-executive Board roles with
effect from 1st February 2010.
Norman Smith has fulfilled a specific role for Transense over the past eighteen
months, developing key relationships between Transense and its partners, and
managing a range of operational process improvements that allow the Company to
fully exploit its world class technology and engineering expertise. Norman will
continue to provide his valuable experience to Transense in his new
Non-executive role.
Melvyn joined the Board in December 2007 having been part of the team that
successfully raised £4 million of funding in January 2008. Over the last two
years Melvyn has organised the accounting functions, reviewed and reduced
overhead expenditure and put in place a range of reporting tools, financial
controls and management processes that ensure the Company is run as efficiently
as possible. This work is now largely complete and no longer requires a
full-time member of staff. Melvyn will be available to comment on the accounts
of the Company in his new Non-executive role.
The Board wishes to thank both Norman and Melvyn for their valuable
contributions in transforming Transense into a modern, efficient and growing
technology group and looks forward to working with them in their new roles.
Contacts:
Transense Technologies PLC
Graham Storey 01869 238380
Brewin Dolphin Investment Banking
Neil Baldwin 0845 213 4730
Sean Wyndham-Quin
About Transense
Transense Technologies is a technology transfer company based in Upper Heyford,
Oxfordshire. Transense develops Surface Acoustic Wave (SAW), wireless,
batteryless, sensor systems in partnership with its licensees and partners,
Honeywell, Melexis, Michelin, Sengenuity, Stack, Tai-Saw, Texas Instruments,
SCHOTT, McLaren Electronic Systems and Carbon Motors.
Current applications include Tyre Pressure Monitoring Systems (TPMS) and torque
systems for Electrical Power Assisted Steering (EPAS) and driveline management.
Transense is listed on the Alternative Investment Market of the London
Stock Exchange (TRT).
www.transense.co.uk <http://www.transense.co.uk>
ENDS
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