REG - Touchstar PLC - Contract Award

TouchstarAnnouncement

08/11/2022 07:01

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RNS Number : 5924F  Touchstar PLC  08 November 2022

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.

 

8 November 2022

 

Touchstar plc

("Touchstar", the "Company" or the "Group")

Contract Award

 

Touchstar plc (AIM:TST), suppliers of mobile data computing solutions and
managed services to a variety of industrial sectors, is pleased to announce
that  it has won a substantial order from a Petrochemical Distribution client
(Touchstar's largest market) to upgrade them to Touchstar's latest cloud-based
solution. The contract award is worth in excess of £1.5m in the first twelve
months with subsequent years benefitting from recurring revenues under a
multiyear licencing and support agreement.

 

Following this award, the Company's order book stands at £2.3 million a
significant increase on the £1 million reported in the Company's interim
results released on the 15 September 2022.

 

This contract award and order book level reinforces our expectations for
FY2022 and FY2023 and that the uptick in activity we have seen in the
Petrochemical Distribution sector will continue and develop into further order
intake.

 

 

For further information, please contact:

 

 Touchstar plc                                www.touchstarplc.com (http://www.touchstarplc.com)

 Ian Martin                                   0161 874 5050

 Mark Hardy                                   0161 874 5050

 WH Ireland - Nominated Adviser & Broker      www.whirelandcb.com (http://www.whirelandplc.com)

 Corporate Finance - Mike Coe/Sarah Mather    020 7220 1666

 

Information on Touchstar plc can be seen at: www.touchstarplc.com
(http://www.belgravium-technologies.com)

 

 

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