Contract Extension

Trakm8 Holdings PLC

27 June 2024

 

REACH - non-regulatory announcement

27 June 2024

Trakm8 Holdings plc

("Trakm8", the "Group" or the "Company")

Contract Extension

Trakm8 Holdings plc (AIM: TRAK), the global telematics and data insight provider, is pleased to advise that the Company has been awarded a contract extension with Drvn Solutions.

Under this contract extension Trakm8 will provide distribution services into the UK in addition to the existing device and data provision. Going forward, whilst there is no commitment in terms of unit numbers, any units will be supplied with Tram8's ConnectedCare vehicle data solution.

Drvn and Trakm8 have extended the current contract to 31 August 2026.

John Watkins, Trakm8's Executive Chairman commented, "We are delighted to extend the scope and duration of the solutions we provide to Drvn having been working closely together for many years."

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For further information:

Trakm8 Holdings plc
John Watkins, Executive Chairman	Tel: [phone]
Jon Edwards, Chief Financial Officer	www.trakm8.com
Allenby Capital Limited (Nominated Adviser & Broker)	Tel: [phone]
David Hart / Vivek Bhardwaj, Corporate Finance Tony Quirke, Sales and Corporate Broking	www.allenbycapital.com

About Trakm8

Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group uses AI data analytics collected from its installed base of telematics units to fine tune the algorithms that are used to produce its' solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.

The Group's product portfolio includes the latest data analytics and reporting portal (Trakm8 Insight), integrated telematics/cameras/optimisation, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 275,000 connections.

Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Stark, EON, Iceland Foods, Sainsbury's, GSF, Direct Line Group, Ticker and Freedom Group.

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005. Trakm8 is also recognised with the LSE Green Economy Mark.

www.trakm8.com / @Trakm8

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