Brief: Q-Free Gets Tolling ARR Contract In Norway

Q-Free ASA

08/02/2022 11:51

Feb 8 (Reuters) - Q-Free ASA  QFR.OL :
    * Q-FREE: TOLLING ARR CONTRACT IN NORWAY
    * PROJECT WILL GO LIVE IN 2022, BUT CONTRACT IS STRUCTURED
AS A
SERVICE DELIVERY THAT WILL GENERATE ANNUAL RECURRING REVENUES
OVER AN ESTIMATED PERIOD OF 15 YEARS
    * BOMPENGESELSKAP NORD AS (BPN), A NORWEGIAN TOLLING
OPERATOR, HAS
AWARDED Q-FREE CONTRACT TO DESIGN, DELIVER AND SERVICE TOLLING
ROADSIDE EQUIPMENT FOR "BYPAKKE TENK TROMSØ" (ENG: POLICY
PACKAGE FOR CITY OF TROMSØ)
    * RECURRING REVENUE ELEMENT OF CONTRACT WILL EXCEED Q-FREE'S
ARR
ANNOUNCEMENT THRESHOLD OF 2.5 MNOK PER YEAR
    * IN ORDER TO ENSURE THAT Q-FREE CAN MAINTAIN ITS
COMPETITIVENESS
ON FUTURE CALL-OFFS EXACT AMOUNT WILL NOT BE DISCLOSED YET

Source text for Eikon:  ID:nWkr1gNl5g 
Further company coverage:  QFR.OL 

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