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LONDON - Transense Technologies plc (AIM:TRT), a specialist in sensing solutions and measurement systems, has disclosed that their Chief Financial Officer, Melvyn Segal, has increased his investment in the company. On Monday, Segal purchased 3,528 ordinary shares at a price of 127.56 pence per share, according to a notification made in line with the UK Market Abuse Regulation.
Following this transaction, Segal’s total beneficial ownership in Transense now amounts to 77,057 ordinary shares. This represents approximately 0.50% of the company’s current voting rights. The acquisition took place on the London Stock Exchange (LON:LSEG)’s AIM market.
Transense Technologies operates in two main business segments: SAWsense and Translogik. The former provides advanced sensor solutions based on Surface Acoustic Wave (SAW) technology to sectors such as aerospace and automotive, while the latter develops tyre inspection equipment for commercial vehicles. The company has a global customer base that includes high-profile names such as GE Aerospace, Airbus, Bridgestone, and Goodyear.
In June 2020, Transense made a strategic move by selling its tyre monitoring system infrastructure for off-highway vehicles, known as Bridgestone iTrack, to Bridgestone Corporation. The intellectual property was licensed exclusively to Bridgestone under a ten-year agreement set to expire in 2030, from which Transense continues to earn residual royalty income.
The news of the CFO’s share purchase is based on a press release statement from the company and provides an insight into the confidence of Transense’s management in the company’s prospects. It also serves as a point of interest for investors and market watchers, reflecting the ongoing financial commitments of company insiders.
The announcement comes as Transense continues to navigate the competitive landscape of sensor technology and measurement systems, with a focus on performance, efficiency, and safety in critical applications. The company’s shares are traded on the AIM market of the London Stock Exchange under the ticker symbol TRT.
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