REG - T42 IOT Tracking Sol - Notice of Interim Results and Business Update

t42 IoT Tracking SolutionsAnnouncement

13/09/2023 08:15

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RNS Number : 3001M  T42 IOT Tracking Solutions PLC  13 September 2023

13 September 2023

 

t42 IoT Tracking Solutions plc

 

Notice of Interim Results and Business Update

t42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company"), the
provider of global shipping containers tracking solutions, expects to announce
its interim results for the 6 months ended 30 June 2023 on or around 22
September 2023, together with a trading statement for the current year.

 

Further to the business update on 16 February 2023, in which the Company noted
that the 5-year distribution and sales contract with OpenBox Ventures Inc
("OpenBox") in the USA was underperforming, the Company notes that the
contract has, to date, not produced orders and thus failed to perform
according to the distributor's estimates, with their estimated US$1.9m minimum
order level for 2022 not being achieved and thus exclusivity conditions have
not been met to date.

 

Accordingly, the Company has been able to pursue other opportunities in the
USA, leading to successful orders as announced in January and March this year,
with further orders anticipated. The Company continues to work with OpenBox
under the distribution agreement and will provide further updates in due
course.

 

 

Contacts:

 

 t42 IoT Tracking Solutions PLC

 Michael Rosenberg, Chairman                                      07785 727595

 Avi Hartmann, CEO                                                +972 5477 35663

 Strand Hanson Limited (Nominated Adviser and Financial Adviser)  020 7409 3494

 James Harris / Richard Johnson / Robert Collins

 Peterhouse Capital Limited                                       020 7469 0930

 Lucy Williams / Charles Goodfellow / Eran Zucker

 

Notes to Editors

 

t42 IoT Tracking Solutions plc (AIM: TRAC), formerly Starcom Systems plc,
provides real-time tracking, analysis, monitoring, and security IoT solutions
for the global container and freight market and covers 55 countries, over 100
distributors, and 50 logistics and support partners.

 

t42's multi-sensor IoT tracking devices use a wide range of detection
capabilities with cloud-based analytics and alerts, with real-time data
transmission, analysis, and actionable insights. Its devices are used by
ports, cargo owners, shipping companies, freight forwarders, insurance
companies, customs authorities, homeland security, and police for end-to-end
global container tracking and digital transformation of shipments.

 

For more information on the Company, please visit: www.t42.co.uk/
(http://www.t42.co.uk/) .

 

 

 

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