REG - Image Scan Holdings - Contract Award

Image Scan HoldingsAnnouncement

04/07/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240704:nRSD0506Va&default-theme=true

RNS Number : 0506V  Image Scan Holdings PLC  04 July 2024

 This announcement contains inside information for the purposes of Article 7
of the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

 IMAGE SCAN HOLDINGS PLC

("Image Scan" or the "Company")

 

Contract Award

 

 

Image Scan Holdings plc (AIM: IGE), the specialist supplier of X-ray screening
systems to the security and industrial inspection markets, is pleased to
announce that it has been selected for a contract with a prominent UK defence
contractor, NP Aerospace Limited for the supply of its ThreatScan® portable
X-ray system.

The contract (which is subject to the finalisation of commercial terms) will
commence with a three month trial and testing process expected to commence in
September 2024. Once the trials are successfully concluded, Image Scan will
commence delivery of its ThreatScan® portable X-ray systems. The estimated
contract value is c.£3 million over a 36 month period. The contract will not
impact the sales and profit performance for the Company's year ending on 30
September 2024 ("FY24") with revenue and profits being recognised in FY25 and
FY26.

The ThreatScan® portable X-ray system is designed to empower bomb
technicians, 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. Additionally,
a customer-specific range of ancillary equipment complements the system.

 

Vince Deery, Image Scan's Chief Executive, commented, "I am delighted that we
have secured this contract, which has been achieved against stiff
international competition. This success stems directly from our revised
product development strategy to focus on high performing portable systems and
confirms our confidence in the strength of our extended portable X-ray product
range within a competitive market."

"Image Scan remains committed to providing cutting-edge solutions in X-ray
screening and reaffirms its dedication to meeting the evolving needs of the
security inspection sector."

 

-ENDS-

 

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

Vincent Deery CEO

Sarah Atwell-King, CFO & Company Secretary

 

 

WH Ireland Limited - Nominated Advisor and Corporate Broker     Tel: +44
(0) 207 220 1666

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 a
cabinet X-ray machine and is replacing its Axis range of checkpoint X-ray
systems with new machines developed with a partner. 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.

 

The visibility and reach of the Company's 3DX-Ray brand has been further
strengthened through a new LinkedIn profile focussed on its EOD and
counter-terrorism activities. This can be found at:
 https://www.linkedin.com/company/3dx-ray/
(https://www.linkedin.com/company/3dx-ray/)
(https://www.linkedin.com/company/3dx-ray/)

 

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/)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTFLFIRDTIVIIS