Contract Extension

RNS Number : 9865G

KRM22 PLC

30 July 2021

 

KRM22 plc

("KRM22", the "Group" or the "Company")

Customer Contract Extension

KRM22 plc (AIM: KRM.L), the technology and software investment company, with a particular focus on risk management in capital markets, is pleased to announce a contract extension with an existing Risk Cockpit customer.

Further to the Company's trading update of 22 July 2021, the Company has signed a three-year contract extension with a tier one customer, with Annual Recurring Revenue ("ARR") of £0.4m per year, an increase in existing ARR of £0.15m per year.  In addition to the immediate increase in ARR, the contract includes an option to increase ARR further by up to £0.2m by March 2022.

Keith Todd CBE, Executive Chairman and CEO at KRM22 commented : "I'm pleased that we can announce this contract signature.  As stated in the trading update, the precise timing of contract signature is uncertain however we expect further contract signatures in the near future.  The contract extension for a further three years is endorsement of our Risk Cockpit product applied to operational risk management."

For further information please contact:

KRM22 plc   [e-mail]

Keith Todd CBE, Executive Chairman and CEO

Kim Suter, CFO

finnCap Ltd (Nominated Adviser and Sole Broker)                               [phone]

Carl Holmes / Kate Bannatyne

Alice Lane / Sunila de Silva (ECM)

About KRM22 plc

KRM22 is a closed-ended investment company which listed on AIM on 30 April 2018.  The Company has been established with the objective of creating value for its investors through the investment in, and subsequent growth and development of, target companies in the technology and software sector, with a focus on risk management in capital markets. 

Through its investments and the Global Risk Platform, KRM22 helps capital market companies reduce the cost and complexity of risk management.  The Global Risk Platform provides applications to help address firms' market, compliance, operations and technology risk challenges and to manage their entire enterprise risk profile.

Capital markets companies' partner with KRM22 to optimise risk management systems and processes, improving profitability and expanding opportunities to increase portfolio returns by leveraging risk as alpha.

KRM22 plc is listed on AIM and the Group is headquartered in London, with offices in several of the world's major financial centres.

See more about KRM22 at www.krm22.com .

 

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