REG - Spectra Systems Spectra Systems-SPSC - Additional Sensor Services Contract Amendment

Spectra SystemsAnnouncement

25/04/2023 07:00

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RNS Number : 2637X  Spectra Systems Corporation  25 April 2023

Spectra Systems Corporation

April 25, 2023

 

Spectra Systems Corporation ("Spectra")

Additional Sensor Services Contract Amendment

Spectra Systems Corporation, a leader in machine-readable high speed banknote
authentication, brand protection technologies and gaming security software is
pleased to announce that it has received an amendment to an existing contract
for the currently in-use sensors with a central bank to provide end of life
support for existing sensors as they are replaced by new sensors (as announced
most recently on 15 August 2022).  The amendment will result in $885,000 of
additional, high mrgin revenue over the period of replacement with most of
this expected from 2025-2027.

Dr. Nabil Lawandy, Chief Executive Officer, stated: "We are pleased to provide
our valued central bank customer additional services to effectively support
their needs.  Response to customer needs is a practice we passionately
undertake as it builds trust with our customer and supports  long-term
relationships."

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.

The person responsible for arranging the release of this announcement on
behalf of the Company is Dr Nabil Lawandy, Chief Executive Officer of the
Company.

 

Enquiries:

 Spectra Systems Corporation                              Tel: +1 (0)401 274 4700

 Dr. Nabil Lawandy, Chief Executive Officer

 WH Ireland Limited (Nominated Adviser and Joint Broker)  Tel: +44 (0)20 7220 1650

 Chris Fielding (Head of Corporate Finance)

 Allenby Capital Limited (Joint Broker)                   Tel: +44 (0)20 3328 5665

 Nick Naylor/James Reeve (Corporate Finance)

 Amrit Nahal (Sales and Corporate Broking)

 

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