REG - Image Scan Holdings - Contract Award Update

Image Scan HoldingsAnnouncement

16/10/2024 07:00

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RNS Number : 2995I  Image Scan Holdings PLC  16 October 2024

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

16 October 2024

IMAGE SCAN HOLDINGS PLC

("Image Scan" or the "Company")

Contract Award Update

 

Image Scan Holdings plc (AIM: IGE), the specialist supplier of X-ray screening
systems to the security and industrial inspection markets, is delighted to
announce that further to the announcement made on 4 July 2024 that it has
successfully agreed and finalised the contract and commercial terms with NP
Aerospace Limited, a prominent UK defence contractor, for the supply of its
ThreatScan® portable X-ray system.

This contract is a significant milestone for Image Scan Holdings plc, a
supplier to NP Aerospace. The testing and trial phase will commence shortly
with completion expected in the coming months. Following successful completion
of the trial, Image Scan will commence delivery of its ThreatScan® portable
X-ray systems. The contract is valued at approximately £3 million over a
36-month period. The contract will not impact FY24 with revenue and profits
being largely recognised in FY25 and FY26.

The ThreatScan® portable X-ray system is designed to assist operators working
in the defence and security environment, enabling them to conduct rapid and
accurate threat assessments across a diverse range of operational scenarios.
The system comprises a portable X-ray generator, a detection panel, and an
operator's workstation running the Company's market-leading image processing
software. This system is complemented by a range of customer-specific
ancillary equipment, tailored to meet the demanding needs of the defence
sector.

Vince Deery, Image Scan's Chief Executive, commented: "We are thrilled to
have successfully agreed the contract with NP Aerospace, marking a key
achievement in our strategic collaboration. The agreement reflects the
strength of our relationship and mutual commitment to delivering
high-performance solutions. As we now move forward together into the testing
and trials phase, we are confident that this partnership will further enhance
our ability to meet the evolving challenges of the defence and security
industry"

Peter Hardisty Managing Director & Senior Vice President Composite and
Armour Systems at NP Aerospace commented: "We're pleased to have signed this
contract with Image Scan Holdings plc that allows NP Aerospace to offer
solutions to a specific customer requirement, that aligns with, and augments,
our existing product and service offerings. This contract will service a
particular undisclosed client's requirements, but we also look forward to
offering this capability to future clients who may have a similar need."

 

For further information on the Company, please visit: www.ish.co.uk
(http://www.ish.co.uk/)  and for further information on its products, please
visit: www.3dx-ray.com (http://www.3dx-ray.com/)

 

 

-ENDS-

 

 

Image Scan Holdings
plc
Tel: +44 (0) 1509 817400

Vincent Deery CEO

Sarah Atwell-King, CFO & Company Secretary

 

 

Zeus - Nominated Advisor and Corporate Broker
               Tel: +44 (0)203 829 5000

Mike Coe/Sarah Mather (Corporate Finance)

 

 

ABOUT IMAGE SCAN HOLDINGS PLC

About Image Scan Holdings plc

The core activity of the Group is the manufacture of portable X-ray systems
for security and counter terrorism applications. The Group recently launched
an updated and refreshed range of portable products to compliment the
previously revised cabinet-based x-ray product line. All these products are
taken to market across the world through a strong network of international
partners.

 

In addition, over the last sixteen years, Image Scan has developed and
manufactured industrial X-ray inspection systems, the MDXi range. The primary
market for these systems is in automotive emissions control where they are
used for quality control inspection of catalytic converters and diesel
particulate filters.

 

 

For further information on the Company, please visit: www.ish.co.uk
(http://www.ish.co.uk/)  - and for further information on its products,
please visit: www.3dx-ray.com (http://www.3dx-ray.com/)

 

 

 

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