Transense Technologies PLC
11 October 2007
Transense Technologies plc ('Transense' or the 'Company')
Reverse takeover discussions
Following recent share trading activity, the Board feels it appropriate to
confirm that Transense has entered into non-binding heads of agreement relating
to a potential acquisition. Any final agreement remains subject to commercial,
financial and legal due diligence, finalisation of the contractual terms and an
appropriate level of fundraising. Given current market conditions, there can
therefore be no guarantee that such an acquisition will proceed.
The proposed acquisition would constitute a reverse takeover under the AIM Rules
and consequently, following this announcement, under the AIM Rules Transense's
shares will be immediately suspended until publication of an admission document
containing full details of the acquisition and the enlarged group or an
announcement is made confirming that the proposed acquisition will not proceed.
If an agreement can be reached, the Board will send to all shareholders a
circular (comprising an admission document) giving further details of the
proposed acquisition and convening an extraordinary general meeting to approve
the acquisition. A further update will be provided when appropriate.
Enquiries:
Transense Technologies plc Tel: +44 (0) 1869 238 380
Peter Woods
Noble & Company Ltd Tel: +44 (0) 20 7763 2200
John Llewellyn-Lloyd
Graeme Bayley
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