Trading Update
February 18 2003 - 5:02AM
UK Regulatory
RNS Number:6251H
Transense Technologies PLC
18 February 2003
Date: 18 February 2003
On behalf of: Transense Technologies PLC
For immediate release
Transense Technologies PLC
Trading Update
At the time of its interim results in August 2002, Transense Technologies plc
(" Transense" or "the Company") announced that the commencement of volume
production of its patented tyre pressure monitoring systems ("TPMS") was
expected in 2003. The Company had formed this view in the expectation of a
large test programme for its TPMS by one of its principal application licensees,
which would have required significant production volume. The test programme in
question has now been scaled back to substantially smaller numbers, which the
licensee has indicated reflects a reduction in their perception of the technical
risk involved. Following this development the Board now believes that volume
production of its TPMS is unlikely to commence until late 2004, with cash
receipts becoming due in early 2005.
The Board continues to have complete confidence in the strength and applications
of the Company's technology, and recent developments, including the important
licence agreement with Temex announced on 5 February and other potential
licensees under negotiation relating to both TPMS and torque measurement
applications, will underpin the Company's prospects.
For further information, please contact:
Transense Technologies plc
James Perry, Chief Executive Tel: 01869 238 380
Graham Eves, Commercial Director
PR to Transense Technologies
Emma Kane/Katharine Sharkey Tel: 020 7955 1410
Redleaf Communications Ltd Mob: 07876 338339
ek@redleafpr.com
Notes to Editors:
* Transense was founded in 1991 and its shares were listed on AIM in 1999;
* Transense's technology is divided into two business streams: Torque
measurement and Pressure measurement;
* Further information on Transense is available at the Company's
website at www.transense.co.uk
Ends
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