AN EXECUTIVE FINANCE DIRECTOR has been appointed to Oxford technology company Transense, as the company looks to expand.
Melvyn Segal returns to the company in the newly formed board role, with Transense experiencing an increase in contracts and business opportunities.
Segal previously served as FD between December 2007 and June 2010, before stepping down as the company was not in a position to require an executive FD.
During his time in the role, he improved Transense’s internal financial reporting, and was involved in the company’s strategic direction, which it believes is now delivering results. He has worked with Transense in an advisory capacity for the past two years.
Segal has held several FD roles, and spent more than 20 years as a partner at Arram Berlyn Gardner.
Segal said: “It is evident that Transense has made significant steps forward in recent months and I am looking forward to rejoining the company at this exciting time.”
Transense has also changed its accounting reference date, to 30 June from 31 December. Interims for the six months and 12 months ended 31 December 2011 will be published on 30 June, along with comparatives for the previous year.
Audited results for the 18 months to 30 June 2012 will be published before 21 December 2012.
Its share price was static this morning, at 10.38p – valuing the company at £18.3m.
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