Additional Sensor Services Contract Amendment

RNS Number : 2637X

Spectra Systems Corporation

25 April 2023

 

Spectra Systems Corporation

April 25, 2023

Spectra Systems Corporation ("Spectra")

Additional Sensor Services Contract Amendment

Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, brand protection technologies and gaming security software is pleased to announce that it has received an amendment to an existing contract for the currently in-use sensors with a central bank to provide end of life support for existing sensors as they are replaced by new sensors (as announced most recently on 15 August 2022).  The amendment will result in $885,000 of additional, high mrgin revenue over the period of replacement with most of this expected from 2025-2027.

Dr. Nabil Lawandy, Chief Executive Officer, stated: "We are pleased to provide our valued central bank customer additional services to effectively support their needs.  Response to customer needs is a practice we passionately undertake as it builds trust with our customer and supports  long-term relationships."

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.

The person responsible for arranging the release of this announcement on behalf of the Company is Dr Nabil Lawandy, Chief Executive Officer of the Company.

Enquiries:

Spectra Systems Corporation Dr. Nabil Lawandy, Chief Executive Officer	Tel: [phone]
WH Ireland Limited (Nominated Adviser and Joint Broker) Chris Fielding (Head of Corporate Finance) Allenby Capital Limited  (Joint Broker) Nick Naylor/James Reeve (Corporate Finance) Amrit Nahal (Sales and Corporate Broking)	Tel: [phone] Tel: [phone]

 

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