11th Oct 2007 10:34
Transense Technologies PLC11 October 2007 Transense Technologies plc ('Transense' or the 'Company') Reverse takeover discussions Following recent share trading activity, the Board feels it appropriate toconfirm that Transense has entered into non-binding heads of agreement relatingto a potential acquisition. Any final agreement remains subject to commercial,financial and legal due diligence, finalisation of the contractual terms and anappropriate level of fundraising. Given current market conditions, there cantherefore be no guarantee that such an acquisition will proceed. The proposed acquisition would constitute a reverse takeover under the AIM Rulesand consequently, following this announcement, under the AIM Rules Transense'sshares will be immediately suspended until publication of an admission documentcontaining full details of the acquisition and the enlarged group or anannouncement is made confirming that the proposed acquisition will not proceed. If an agreement can be reached, the Board will send to all shareholders acircular (comprising an admission document) giving further details of theproposed acquisition and convening an extraordinary general meeting to approvethe acquisition. A further update will be provided when appropriate. Enquiries: Transense Technologies plc Tel: +44 (0) 1869 238 380Peter Woods Noble & Company Ltd Tel: +44 (0) 20 7763 2200John Llewellyn-LloydGraeme Bayley This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Transense