Cashbox PLC
08 August 2006
Press Release 8 August 2006
Cashbox plc
('Cashbox' or 'the Company')
Agreement with Chevron Limited
Cashbox plc (AIM:CBOX), the independent ATM deployer and operator, announces
that it has signed an agreement to be the preferred supplier of internal ATMs
for the Texaco service station network whose brand rights are owned by Chevron
Limited (NYSE:CVX).
There are around 1,100 Texaco-branded petrol service stations across the UK all
of which are now independently owned or operated. Following a competitive
selection process, Texaco has chosen Cashbox as an ATM partner with immediate
effect.
The first promotional phase of the ATM programme to Texaco's retailer network
has already commenced, initially involving 420 sites. Philip Minns, Category
Manager UK & Ireland of Texaco, has recently attended retailer meetings across
the UK and is actively promoting Cashbox as the ATM provider of choice for
internal machines.
Commenting on the agreement, Phillip Minns said: 'Being a Texaco-branded
retailer does not mean just signing a fuel supply agreement with us, it means
having access to a network of support and communication. This is our Bright
Horizons strategy and we aim to form partnerships with like-minded,
service-focussed companies. These partners will deliver added value to our
retailers by providing first class products and services. As such we are
pleased to recommend Cashbox as our preferred internal ATM provider.'
Carl Thomas, Chief Executive of Cashbox plc, said: 'We believe our free
placement of ATMs not only delivers increased footfall to the petrol stations
themselves but they increase customer retention and cash spend in the shop.
Texaco is a nationally recognised name and this agreement will significantly
enhance our country-wide network. There continues to be a significant and
growing demand for convenient cash and this agreement forms just a part of our
strong pipeline of future ATM installations.'
- Ends -
For further information:
Cashbox plc
Carl Thomas, Chief Executive Tel: +44 (0) 870 126 2274
cthomas@cashboxplc.co.uk www.cashboxplc.co.uk
Seymour Pierce Limited
Jeremy Porter, Corporate Finance Tel: +44 (0) 20 7107 8000
Media enquiries:
Abchurch
Henry Harrison-Topham / Gareth Mead Tel: +44 (0) 20 7398 7700
henry.ht@abchurch-group.com www.abchurch-group.com
Notes to editors
Cashbox plc
Cashbox is a leading independent ATM deployer (IAD) with an estate of over 1,000
ATMs in locations around the UK. The Company began trading in September 2003
and was established by brothers Carl and Matt Thomas. Cashbox installs and
operates an estate of ATMs, typically on five to seven year contracts, at sites
throughout the UK where there is a demand for cash withdrawal services and where
customers are willing to pay a convenience fee.
Cashbox was granted membership of LINK in March 2004, allowing Cashbox to
incorporate its ATMs in the LINK network. Cashbox also has a Bank of England
settlement account and became the first IAD in the UK to become completely
compliant with the Triple DES security standard in June 2004.
Cashbox's sales strategy is based on selecting amongst three models to maximise
the profit potential of each ATM site - the Sale Model, the Placement Model and
the Fully Managed Model. The Company intends that the majority of new
installations will use the Placement Model, whereby the ATM is purchased by
Cashbox under lease hire, placed with the merchant and replenished by the
merchant, eliminating the need for third party cash handling costs.
The Company listed on AIM in March 2006.
Chevron Corporation
Chevron is one of the world's leading energy companies. With more than 53,000
employees, Chevron subsidiaries conduct business in approximately 180 countries
around the world, producing and transporting crude oil and natural gas, and
refining, marketing, and distributing fuels and other energy products. Chevron
is based in San Ramon, California, USA. More information about Chevron is
available at www.chevron.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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