Five Year Optical Materials Supply Contract

RNS Number : 7410B

Spectra Systems Corporation

11 June 2019

 

Spectra Systems Corporation

("Spectra" or the "Company")

Five year Optical Materials Supply Contract

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, brand protection technologies, and gaming security software, is delighted to announce that it has entered into a five year contract extension with an existing optical materials customer, one of the largest suppliers of security inks for the banknote industry.

The contract has a minimum value of $3.2MM over 5 years commencing April 2020 and secures Spectra's revenues for this component of optical materials used in banknotes.

Dr. Nabil Lawandy, Chief Executive Officer, stated: "We are delighted to have executed this contract which secures the use of our phoshour materials in some of the world's leading banknotes.  This contract, along with other recent service  and sensor development contracts further underpins our revenues and earnings visibility going forward."

Enquiries:

Spectra Systems Corporation Dr. Nabil Lawandy	Tel: [phone]
WH Ireland Limited Chris Fielding (Managing Director, Corporate Finance)	Tel: [phone]

 

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