REG - Spectra Systems Spectra Systems-SPSC - Successful Bid for HMRC Vaping Duty Stamps Scheme

Spectra SystemsAnnouncement

16/01/2026 07:02

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RNS Number : 1435P  Spectra Systems Corporation  16 January 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.

 

16 January, 2026

Spectra Systems Corporation

("Spectra" or the "Company")

Successful Bid for HMRC Vaping Duty Stamps Scheme

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 been informed by HMRC that is has been
the winning bidder for a contract by HMRC for production and supply of vape
duty stamps. The CSP bid was submitted in a consortium with a world leader in
tax stamp track and trace technology.

Whilst having been informed it is the successful bidder, the contract remains
to be finalized and this is expected shortly and the Company will provide a
further update upon its signing.

The estimated contract value is £38.4M ($51.84M) including VAT and is based
on five years and has an option for an additional year. Spectra expects
approximately 15% of the total five-year revenue.  Within the CSP-led
consortium, CSP will be responsible for production and supply of stamps as
well as authentication features and associated devices provided by Spectra in
Rhode Island, USA. Our partner will be responsible for businesses to order,
make payment, manage their stamps and collect data for HMRC relating to the
products entire journey through the supply chain.

Andrew Brigham, Managing Director of CSP stated: "We are pleased to have
received the contract award notice for what is a major contract in our home
country and look forward to supporting HMRC in achieving its objectives. The
award notice underscores the breadth and depth of Spectra's expertise in
security printing and authentication, reflecting the company's many years of
proven experience in the field "

Dr. Nabil Lawandy, CEO of Spectra Systems, stated: "We are delighted to have
been selected, along with our partner, by HMRC particularly as there were
other major players competing with us.  This award highlights the seamless
product development and sales process between the USA and UK organizations in
Spectra. Our reorganization of CSP continues to progress following the actions
initiated in 2025."

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 (Corporate Finance)

  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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