Addleshaw Booth & Co has played a pivotal role in Transense's life as a publicly-listed company. It first advised the company on its original move from Ofex to AIM in 1999. And while some technology companies may now be languishing at the bottom of client lists, Transense, which utilises surface acoustic wave devices, is one technology company that is surviving the sector downturn. Its market capitalisation has increased from £10m, when it first listed on AIM, to £244m as of February this year. With a history like that, the future for the relationship between firm and client can only be a good one.
Corporate finance partner Stephen Houston has been working with Transense since 1999, when he advised on the Ofex/AIM transfer, and was the lead partner on the latest deal. The placing of the 706,000 new ordinary shares was in relation to the early exercise of certain share options by a number of Transense directors and other employees. Under the terms of the transaction, shares belonging to directors that are not included in this latest placing cannot be sold before 26 November 2003.