AGM Statement

Transense Technologies plc (the 'Company' or 'Transense')
 
AGM Statement
 
29 June 2011
 
Transense's new Board said three years ago that it would take a while to refocus
the Company and for it to regain its credibility. The first priority was to
review and understand the Company's technical knowhow and current commercial
opportunities and then to ascertain the areas in the marketplace where potential
customers would be found for that knowhow. Additionally, whilst Transense wanted
to remain primarily an IP company, the Board recognised that the Company needed
to develop a range of products in parallel with its R&D work, in order to
generate sales and cash pending receipt of royalty income.
 
The Company has made huge progress: Transense is now in a position to leverage
its technological expertise and a much broader range of technical projects are
now underway. In fact, there are more live development projects now than at any
time in the Company's history, such that the medium to long term future looks
promising.
 
However, set against this background for the IP business, the Company have had
some technical setbacks with the new Translogik products, which have led to
delays in bringing them to market and this in turn has significantly negatively
impacted our revenue forecasts for 2011. The Board is pleased to say that these
technical issues have now been largely overcome. There is demand by potential
end-users for these products. However, the knock-on effect of the delay and the
anticipated further period of testing from customers are likely to mean that
revenues from these products will be weighted to the back end of the year, if
not slip into the next financial year.
 
Whilst this has been understandably frustrating, working together with our
partners to resolve these technical issues has allowed us to develop closer
relationships and maintain a constant dialogue during the field trials.
Encouragingly, the commercial opportunities for both products remain intact,
with both the iTrack system and the iProbe offering features that cannot, to our
knowledge, be matched by any competing products. The iTrack field trials are
continuing and the iProbe has been well received by major global tyre
manufacturers, as they begin to release their new RFID enabled tyre ranges.
 
In conclusion, the degree of activity mentioned in the statements incorporated
in our Report and Accounts continues to grow. W e hope that, during the second
half of the year, formal agreements will be entered into with third parties and
we will see growth in purchase orders for both iTrack and the iProbe.
 
For more information, please contact:
 
Transense Technologies plc       Tel: +44 (0) 1869 238 380
Graham Storey, Chief Executive
 
Brewin Dolphin - Nomad
Neil Baldwin                                     Tel: 0845 213 4726
 
Hybridan LLP - Broker
Claire Noyce                                Tel: +44 (0) 207 947 4350
 
About Transense
 
Transense Technologies is a technology transfer company based in Upper Heyford,
Oxfordshire, UK.
 
Transense  develops  Surface  Acoustic  Wave (SAW), wireless, battery-less,
 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)
 
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Source: Transense Technologies plc via Thomson Reuters ONE
 
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