Spark New Zealand gains on updated agreement terms with Norwood Systems

Norwood Systems

14/10/2022 04:14

** Shares of Spark New Zealand Ltd  SPK.NZ  jump as much as
2.07% to NZ$5.175, highest since Sept. 27
    ** The telecom firm varies its voicemail service agreement
with Australian telecom firm Norwood Systems Ltd  NOR.AX  
    ** Pricing terms of Spark Visual Voicemail service offering
has been extended to a further of three years 
    ** NOR says updated agreement sets out the fee structure for
the voicemail service from Jan. 1 2023 to Dec. 31 2025 and for
maintenance charges from July 1, 2023 to June 30, 2026
    ** NOR says SPK has supplied it with new purchase orders of
NZ$682,000 ($386,557.60) for expected end-user subscription
services and maintenance services in FY23 compared to about
NZ$639,000 for services provided across FY22
    ** Shares on track to gain about 1.6% this week, biggest pct
gain since week ending Sept. 30 
    ** Stock has risen 12.16% this year, as of last close 
($1 = 1.7643 New Zealand dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))