Transense launches £2.5 million fund raiser

ERJ staff report (DS)

Bicester, UK-- Specialist TPMS producer, Transense Technologies plc has launched a £2.54 million (euro 3 million) fund-raising bid.

Net proceeds of the Fundraising will be used to further develop the Company's strategy, and in particular to accelerate the pace at which it addresses the opportunities arising within the IntelliSAW division, and for general working capital purposes.

Chairman, David Kleeman, said, "We are pleased by the level of support already shown by Warrantholders to the Offer. The Board believes that supported by the proceeds from the Fundraising, the Company is well on its way to generating significant income from its new revenue channels."

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Press release from Transense