Major Contract Extension with Key Account

RNS Number : 8299M

Gresham Technologies PLC

24 September 2021

 

RNS

24 September 2021

Gresham Technologies plc

Major contract extension with key account

Gresham Technologies plc (LSE: "GHT", "Gresham", "Group"), the leading software and services company that specialises in providing solutions for data integrity and control, banking integration, payments and cash management, is pleased to confirm that the Group's largest customer has signed contracts which renew and materially increase its investment in the company's software and services.

Over the last few days, Australia and New Zealand Banking Group Limited ("ANZ") executed contracts totalling over AUD21m to cover the period 1 October 2021 to 30 September 2022 ("contract year").

These signed agreements, combined with existing agreements, provide contractual certainty over the renewal of all existing Clareti and non-Clareti licences, as well as securing new incremental revenues from recurring software, recurring managed services, consulting services and contracting services. Within these signed agreements:

• Clareti revenues from ANZ for the contract year are expected to exceed AUD14m, an increase of more than 35%. Included within these revenues is the Group's innovation partnership with ANZ in cash management, which continues to develop positively and is directly reflected by an increased investment in Clareti recurring revenues approaching 40% on the prior contract year.

• Other Non- Clareti revenues (including the sub-contracting business) for the new contract year are expected to exceed the AUD16m forecast from the current contract year.

As a result of these contracts, the Group expects to benefit from revenues in the ANZ contract year in excess of AUD30m. These contracted account revenues provide significantly increased confidence over the Group's planned revenues and earnings in FY21, and an important contribution to FY22.

Enquiries

Gresham Technologies plc	[phone]
Ian Manocha
Tom Mullan
Singer Capital Markets (Financial Adviser and Broker)	[phone]
Shaun Dobson / Jen Boorer (Corporate Finance)
Tom Salvesen (Corporate Broking)

Inside information

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

Note to editors

Gresham Technologies plc is a leading software and services company that specialises in providing real-time solutions for data integrity and control, banking integration, payments and cash management. Listed on the main market of the London Stock Exchange (GHT.L) and headquartered in the City of London, its customers include some of the world's largest financial institutions and corporates, all of whom are served locally from offices located in the UK, Europe, North America and Asia Pacific.

Gresham's award-winning Clareti software platform is a highly flexible and scalable platform, available on-site or in the cloud, designed to address today's most challenging financial control, risk management, data governance and regulatory compliance problems. Learn more at www.greshamtech.com.

 

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