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M transense technologies plc AGM Trading Update and Director Appointments Released : 23 Nov 2021 07:00 RNS Number : 1931T Transense Technologies PLC 23 November 2021 The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union ( Withdrawal ) Act 2018 as amended . Transense Technologies plc ( " Transense " or the " Company " ) AGM trading update , Director appointments and Investor Event Transense Technologies plc ( AIM : TRT ) , the provider of specialist sensor systems , is pleased to provide a trading update ahead of its Annual General Meeting at noon today and to announce the appointment of two executive directors to the Board of the Company : Nick Hopkins MBA as Chief Operating Officer , and Ryan Maughan FIMechE MSc as Business Development Director . These appointments take effect from 1 December 2021 . AGM trading update Revenues in the financial year to date are in line with the Board's expectations and ahead of the level achieved in the equivalent period last year . Trading results to 31 October 2021 were profitable and cash generative , with net cash at 31 October 2021 of £ 1.34m ( 30 June 2021 : £ 1.05m ) . The Board is pleased with overall progress and optimistic about the outlook for the full year and beyond . Nick Hopkins - Chief Operating Officer Nick joined Transense in June 2020 as Managing Director of its Surface Acoustic Wave ( SAW ) business . Since his appointment , he has overseen all the commercial and operational activities of the SAW business , including cementing existing long - term relationships with key customers and suppliers , and providing leadership to the team . Before joining Transense , Nick had several years of business experience in the electronics sector using SAW for Test and Instrumentation , following a military career which included the command of an Army Air Corps operational helicopter squadron and operational and capability equipment roles with the Joint Helicopter Command . He now joins the Board of Transense as Chief Operating Officer with responsibility for the SAW business . Ryan Maughan - Business Development Director Ryan joins the Board as Business Development Director , a part - time executive role that represents a significant extension of his current activities as a member of the Company's SAW Commercial Advisory Panel , SAWCAP . He will lead Transense's business development , commercial and marketing activities for SAW , reporting to the Board . He will help to develop commercial opportunities in propulsion systems and complex machine control , where SAW sensor technology delivers improvements in performance , efficiency , safety and reliability . Ryan is an award - winning engineer and business leader with more than 20 years ' experience in the high - performance , heavy - duty and off highway automotive markets . Prominent in the development of power electronics , electric motors and drives ( PEMD ) for these demanding applications , he has successfully founded , scaled and sold three businesses in the electric vehicle space . He is currently CEO of eTech49 Limited , an advisory business specialising in disruptive hardware technology in PEMD . In addition , he is Chairman of EV North , an industry group representing the booming electric vehicle industry in the north of England , a Board member of the North East Local Enterprise Partnership and an advisor to a number of corporations . For the purposes of the AIM Rules for Companies , further details of Nick Hopkins and Ryan Maughan are set out further below . Board structure and governance In the light of these executive appointments , the Board intends to appoint an additional independent non - executive director to the Board within the next six months . The Board is , as always , mindful of the need to maintain an appropriate cost structure for the Company whilst the SAW business is in the commercialisation phase . Accordingly , the basic fees and salaries of the Board as a whole have been agreed at levels that continue to be affordable from existing budgets . Investor Meet Company event on Tuesday 23 November 2021 at 2pm As previously announced , Nigel Rogers ( Executive Chairman ) and Melvyn Segal ( Chief Financial Officer ) will host an update for investors