Business
AGM Statement and Directorate Change
AGM Statement and Directorate Change.
About this update from Transense Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 0874Q Transense Technologies PLC 11 October 2013 \n \n\n11 October 2013\nTransense Technologies plc (\"Transense\" or the \"Company\")\nAGM Statement and Directorate Change\nAt the Company's Annual General Meeting (\"AGM\") being held at 11:00 a.m. today, at 3 Lloyd's Avenue, London EC3N 3DS, the Chairman, David Kleeman, will make the following statement in relation to its board composition:\n\"As stated in the recent results release, the Company is pleased with the recent progress it has made in all of its operating divisions, commercialising its proprietary surface acoustic wave (SAW) technology and know-how. Translogik, our tyre management solutions division, has seen multiple customer orders, including two major contracts for the iTrack system with Anglo American and Otraco, in South Africa and Chile respectively. IntelliSAW, our power industry solutions division, completed its first full-factory fit out in S.E. Asia and has a growing partner network and number of pilots underway, and SAWsense continues to develop torque measurement applications for the automotive, aviation and wind turbine industries. These are long term projects with the potential to deliver royalty income.\nHaving seen the business develop over the last four years under the current management team to its position today, Transense has now reached the stage where it is seeing marked improvement in revenue and in its prospects - indeed new business opportunities are building faster than at any previous point in its history. With the Company's SAW solutions finding resonance with an international range of distributors, partners and key customers, and following almost 6 years in the role, I feel that now is the appropriate time to relinquish the role of Chairman. \nThe Board believes that different skills are called for at this stage in the growth and development of the Company. David Ford, currently an Executive Director, will serve as Executive Chairman, utilising the skills acquired as an intellectual property lawyer and experience as former CEO of a technology business in this next phase of the Company's evolution. I am pleased to be able to continue to serve shareholders in the capacity of a Non-Executive Deputy Chairman. These changes will be effective immediately following the conclusion ...