REG - Tracsis PLC - Preferred bidder for PAYG Tap Converter system

TracsisAnnouncement

26/11/2024 07:00

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RNS Number : 5869N  Tracsis PLC  26 November 2024

 

26 November 2024

 

Tracsis plc

("Tracsis" or "the Group")

 

Preferred bidder status for the procurement of a PAYG Tap Converter system
across GB rail

 

Tracsis (LSE: TRCS), a leading transport technology provider, is pleased to
announce that Rail Settlement Plan Limited (trading as Rail Delivery Group* in
the UK) has taken forward a proposal from iBlocks Limited (a subsidiary of
Tracsis plc) to Preferred Bidder status for the procurement of a Pay As You
Go (PAYG) Tap Converter system.  When operational, the PAYG Tap Converter
system aims to provide a reliable 'best fare' guarantee for consumers using
PAYG ticketing services across GB rail.

 

At this point, negotiations remain on a non-exclusive basis and there is no
guarantee that a final contract will be awarded. Any final contract award will
only be made after concluding contract negotiations and confirmation of
funding from the Government.

*The Rail Delivery Group is a membership organisation that works on behalf of
the UK rail industry to create a simpler, better railway. Its members are the
Train Operating Companies that make up the rail industry across Britain.

 

Enquiries:

 Tracsis plc                                                         +44 (0)845 125 9162

 Chris Barnes, CEO

 Andy Kelly, CFO

 Berenberg (Nominated Adviser, Sole Broker & Financial Adviser)      +44 (0)20 3207 7800

 Mark Whitmore / Richard Andrews / Mollie D'Arcy Rice

 James Thompson (QE)

 Alma Strategic Communications                                       +44 (0)20 3405 0205
 David Ison / Rebecca Sanders-Hewett / Joe Pederzolli

                                                                     tracsis@almastrategic.com

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as amended by the Market Abuse (Amendment) (EU Exit)
Regulations 2019. Upon the publication of this announcement via the Regulatory
Information Service, this inside information is now considered to be in the
public domain.

 

Notes to editors:

 

·     Tracsis plc is a technology company and a leading provider of
software and hardware products, data capture and data analytics/GIS services
for the rail, traffic data and wider transport industries.

 

·   Tracsis's products and services are widely used to increase
efficiency, reduce cost and risk, improve operational and asset performance,
improve safety management and decision making capabilities and improve the
overall end-user experience for clients and customers.

 

·      The Group is split into two principal operating areas built
around detailed industry knowledge and expertise:

 

-   Rail Technology & Services:  A software, technology and product
led business. It develops and supplies software that solves complex resource,
asset optimisation and control problems for Train Operators, and smart
ticketing, delay repay and other retail software to improve the customer
experience for rail users. It also develops remote condition monitoring
hardware, data acquisition software, and safety and risk management software
for rail infrastructure providers.

-   Data, Analytics, Consultancy & Events: A largely services led
business that focuses on data capture, data analytics, GIS, earth observation,
data insights, consultancy and event traffic management within a range of
transport and pedestrian rich environments. The business provides technology
and bespoke products and data that underpin large scale intelligent transport
systems, smart city planning and positive environmental decision making.

 

·   Tracsis has a blue-chip client base which includes all major UK
transport owning groups, Network Rail, Passenger and Freight Train Operating
Companies, the Department for Transport, TfL, multiple local authorities,
major outdoor music and sporting event organisers, and a wide variety of large
engineering and infrastructure companies. In North America our clients include
Class 1 rail freight companies, transit operators, shortline railroads and
several large rail served ports and industrials.

 

·    The business drives growth both organically and through acquisition
and has made seventeen acquisitions since 2008.

 

For more information on Tracsis please visit http://www.tracsis.com
(http://www.tracsis.com)

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