REG - Spectra Systems Spectra Systems-SPSC - Executed Contract with HMRC for Vaping Duty Stamps

Spectra SystemsAnnouncement

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RNS Number : 7858R  Spectra Systems Corporation  05 February 2026

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.

 

5, February 2026

Spectra Systems Corporation

Executed Contract with HMRC for Vaping Duty Stamps Scheme

Further to the RNS dated 16 January 2026, Spectra Systems Corporation, a
leader in machine-readable high speed banknote authentication, security
printing, brand protection technologies and gaming security software, is
pleased to announce that its security printing arm, Cartor Security Printers
("CSP"), has executed the contract with HMRC for production and supply of vape
duty stamps. CSP was the primary on the contract, which was submitted in
partnership with SICPA SA, a world leader in tax stamp track and trace
technology.

The total estimated contract value is estimated to be £32M ($43.8M) excluding
VAT and is based on five years and has an option for an additional year. Under
the finalized executed contract terms, Spectra will be providing additional
services and now expects its portion of the contract value to be approximately
22% of the total five-year revenue.  As the lead in the contract, Spectra
will be receiving entire $43.8M of revenue and dispersing the funds
accordingly. Within the CSP-led consortium, CSP will be responsible for
production and supply of stamps as well as high level forensic authentication
features and associated devices provided by Spectra in Rhode Island, USA. Our
partner will be responsible for additional security features, tax stamp
coding, along with the track and trace software solution, managing stakeholder
and product registration, tax stamp ordering, making payments and collecting
data and monitoring compliance for HMRC relating to the vape products' entire
journey through the supply chain.

Dr. Nabil Lawandy, CEO of Spectra Systems, stated: "We are delighted to have
finalized this important new contract as we continue our re-organization of
the security printing business to boost profits through longer term contracts.
With the first phase of the reorganization having been completed in the UK
facility, we are confident that with, this new prestigious contract win, we
expect to see significant profits from CSP in 2026 and more so in 2027 when
the entire benefit of the restructuring is in full operation."

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

 Zeus (Nominated Adviser and Joint Broker)                              Tel: +44 (0)20 3829 5000

 James Joyce / James Bavister/ Andrew de Andrade (Investment Banking)

  Allenby Capital Limited (Joint Broker)

 Nick Naylor/James Reeve (Corporate Finance)                            Tel: +44 (0)20 3328 5665

 Amrit Nahal (Sales and Corporate Broking)

 

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