New Five Year Contract with G7 Central Bank

RNS Number : 3991L

Spectra Systems Corporation

03 October 2016

 

Spectra Systems Corporation

("The Company" or "Spectra")

Spectra Systems executes new five year contract with G7 central bank

Spectra stated in its interim results for the six months ended 30 June 2016 that negotiations with its ongoing G7 Central Bank customer concerning a five year material supply contract had been substantially completed.

The Company is therefore delighted to announce that on 30 September 2016 it executed this contract which will allow for the long-awaited manufacture in-house of authentication materials for this Bank.

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

Dr. Nabil Lawandy, CEO of Spectra Systems, stated: "We are delighted to announce this contract which now enables us to bring in house the manufacture of all of Spectra's covert materials for this G7 Bank, together with those for the rest of our end customers.

"As stated in our interim results, we anticipate this resulting in a 35% increase in blended gross profit on such materials, once existing inventories for our other end customers are used."

Enquiries:

Spectra Systems Corporation

Dr. Nabil Lawandy, Chief Executive Officer                                          Tel: [phone]

WH Ireland Limited

Chris Fielding (Head of Corporate Finance)                                          Tel: [phone]

 

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