Contract Award

Image Scan Holdings PLC

04 July 2024

 

 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.

 IMAGE SCAN HOLDINGS PLC

("Image Scan" or the "Company")

Contract Award

Image Scan Holdings plc (AIM: IGE), the specialist supplier of X-ray screening systems to the security and industrial inspection markets, is pleased to announce that it has been selected for a contract with a prominent UK defence contractor, NP Aerospace Limited for the supply of its ThreatScan® portable X-ray system.

The contract (which is subject to the finalisation of commercial terms) will commence with a three month trial and testing process expected to commence in September 2024. Once the trials are successfully concluded, Image Scan will commence delivery of its ThreatScan® portable X-ray systems. The estimated contract value is c.£3 million over a 36 month period. The contract will not impact the sales and profit performance for the Company's year ending on 30 September 2024 ("FY24") with revenue and profits being recognised in FY25 and FY26.

The ThreatScan® portable X-ray system is designed to empower bomb technicians, enabling them to conduct rapid and accurate threat assessments across a diverse range of operational scenarios. The system comprises a portable X-ray generator, a detection panel, and an operator's workstation running the Company's market-leading image processing software. Additionally, a customer-specific range of ancillary equipment complements the system.

Vince Deery, Image Scan's Chief Executive, commented, "I am delighted that we have secured this contract, which has been achieved against stiff international competition. This success stems directly from our revised product development strategy to focus on high performing portable systems and confirms our confidence in the strength of our extended portable X-ray product range within a competitive market."

"Image Scan remains committed to providing cutting-edge solutions in X-ray screening and reaffirms its dedication to meeting the evolving needs of the security inspection sector."

-ENDS-

Image Scan Holdings plc                                                                Tel: [phone]

Vincent Deery CEO

Sarah Atwell-King, CFO & Company Secretary

WH Ireland Limited - Nominated Advisor and Corporate Broker     Tel: [phone]

Mike Coe/Sarah Mather (Corporate Finance)

ABOUT IMAGE SCAN HOLDINGS PLC

About Image Scan Holdings plc

The core activity of the Group is the manufacture of portable X-ray systems for security and counter terrorism applications. The Group recently launched a cabinet X-ray machine and is replacing its Axis range of checkpoint X-ray systems with new machines developed with a partner. All these products are taken to market across the world through a strong network of international partners.

In addition, over the last sixteen years, Image Scan has developed and manufactured industrial X-ray inspection systems, the MDXi range. The primary market for these systems is in automotive emissions control where they are used for quality control inspection of catalytic converters and diesel particulate filters.

The visibility and reach of the Company's 3DX-Ray brand has been further strengthened through a new LinkedIn profile focussed on its EOD and counter-terrorism activities. This can be found at:  https://www.linkedin.com/company/3dx-ray/  

For further information on the Company, please visit: www.ish.co.uk - and for further information on its products, please visit: www.3dx-ray.com

 

END