RCS - De La Rue PLC - Authentication Contract Win

De La RueAnnouncement

03/02/2022 07:00

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RNS Number : 5271A  De La Rue PLC  03 February 2022

03 February
2022
 

RNS REACH

DE LA RUE PLC

AUTHENTICATION CONTRACT WIN

De La Rue plc (LSE: DLAR) ("De La Rue") today announces that it has signed a
contract with the Oman Tax Authority to implement a Digital Tax Stamp solution
for excisable goods, as announced on 1(st) February 2022 in Oman.

The 5-year contract will see De La Rue and the Tax Authority implementing a
tax stamp scheme for tobacco products compliant with the World Health
Organisation's Framework Convention for Tobacco Control (FCTC) and product
marking and serialisation for other excisable goods. Combining secure printed
tax stamps and digital tracking solutions, the scheme will enable the Tax
Authority to tighten control over the suppliers' commitment to pay the excise
tax and to monitor the production and import processes of excisable goods. The
scheme will therefore contribute to enhancing the tax revenues of Oman.

This contract represents the latest in a series of long-term contract wins for
De La Rue's Authentication division, in support of the Turnaround Plan
objectives.  The Company expects this contract to contribute to revenue
starting early in Financial Year 2022-23.

Andrew Clint, Managing Director of De La Rue Authentication said, "we are
honoured to have been selected by the Tax Authority in Oman to implement this
FCTC compliant digital tax stamp solution which means that all of the GCC
countries that are implementing tax stamp solutions have selected De La Rue as
their partner.  De La Rue now secures more than 14 billion products annually
across our Government Revenue Solutions (GRS) and brand protection solutions
ensuring that we are protecting revenues and reputations for customers all
around the world"

An Oman Tax Authority spokesperson said: "The Oman Tax Authority are delighted
to be working with one of the world leaders, De La Rue, on this important
project for driving improved excise tax revenues."

De La Rue plc's LEI code is 213800DH741LZWIJXP78.

Enquiries:

 De La Rue plc        +44 (0) 7387 122645
 Clive Vacher         Chief Executive Officer
 Rob Harding          Chief Financial Officer
 Matthew Rose         Director of Tax, Treasury and Investor Relations
 Kirstie Thomas       Investor Relations Manager

 Brunswick            +44 (0)207 404 5959
 Stuart Donnelly
 Ed Brown

 

Cautionary note regarding forward-looking statements

 

This announcement includes statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements can be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "anticipates", "expects", "intends", "plans", "goal",
"target", "aim", "may", "will", "would", "could" or "should" or, in each case,
their negative or other variations or comparable terminology. These
forward-looking statements include all matters that are not historical facts.
They appear in a number of places throughout this announcement and include
statements regarding the intentions, beliefs or current expectations of the
directors, De La Rue or the Group concerning, amongst other things, the
results of operations, profitability, financial condition, liquidity,
prospects, growth and strategies of De La Rue and the industry in which it
operates.

 

By their nature, forward-looking statements involve risks and uncertainties
because they relate to events and depend on circumstances that may or may not
occur in the future and may be beyond De La Rue's ability to control or
predict. Forward-looking statements are not guarantees of future performance.
The Group's actual results of operations, profitability, financial condition,
liquidity, prospects, growth and/or strategy and the development of the
industry in which it operates may differ materially from the impression
created by the forward-looking statements contained in this announcement. In
addition, even if the results of operations, profitability, financial
condition, liquidity, prospects, growth and/or strategy of the Group and the
development of the industry in which it operates are consistent with the
forward-looking statements contained in this announcement, those results or
developments may not be indicative of results or developments in subsequent
periods.

 

Other than in accordance with its legal or regulatory obligations, De La Rue
does not undertake any obligation to update or revise publicly any
forward-looking statement, whether as a result of new information, future
events or otherwise.

 

 

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