Australia's 8Common hits 6-1/2-year high on contract extension

8Common

30/03/2021 03:46

** Shares of 8Common Ltd  8CO.AX  jump as much as 6.8% to
A$0.235, their highest since Sept. 12, 2014 
    ** Fintech co says New South Wales Department of Education
(NSW DoE) extended its contract with co's card application and
management solution, Expense8, for two years  urn:newsml:reuters.com:*:nASX7WMqGP
    ** Contract extension follows an original five-year contract
and represents estimated revenue of A$960,000 ($733,632.00)
    ** Co says over 22,000 users and 14,000 credit cards are
managed via Expense8 in the NSW DoE
    ** About 1.1 mln shares change hands, vs the 30-day average
volume of about 419,000 shares
    ** Stock had risen 46.7% this year, as of last close

($1 = 1.3086 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))