Contract Award

RNS Number : 5924F

Touchstar PLC

08 November 2022

 

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.

8 November 2022

Touchstar plc

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

Contract Award

Touchstar plc (AIM:TST), suppliers of mobile data computing solutions and managed services to a variety of industrial sectors, is pleased to announce that  it has won a substantial order from a Petrochemical Distribution client (Touchstar's largest market) to upgrade them to Touchstar's latest cloud-based solution. The contract award is worth in excess of £1.5m in the first twelve months with subsequent years benefitting from recurring revenues under a multiyear licencing and support agreement.

Following this award, the Company's order book stands at £2.3 million a significant increase on the £1 million reported in the Company's interim results released on the 15 September 2022.

This contract award and order book level reinforces our expectations for FY2022 and FY2023 and that the uptick in activity we have seen in the Petrochemical Distribution sector will continue and develop into further order intake.

For further information, please contact:

Touchstar plc Ian Martin Mark Hardy	www.touchstarplc.com 0161 874 5050 0161 874 5050
WH Ireland - Nominated Adviser & Broker Corporate Finance - Mike Coe/Sarah Mather	www.whirelandcb.com 020 7220 1666

Information on Touchstar plc can be seen at: www.touchstarplc.com

 

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