Cashbox PLC
16 June 2006
Press Release 16 June 2006
Cashbox plc
('Cashbox' or 'the Company')
Contract with Wadworth
Cashbox plc (AIM:CBOX), the independent ATM deployer and operator, announces
that it has signed a contract to be the exclusive supplier of ATMs for the pub
estate of Wadworth and Company Ltd ('Wadworth').
Following a successful six month trial in Oxfordshire, Cashbox will now begin
installing ATMs under the Company's Placement Model throughout Wadworth's
managed estate of 40 premises. The first machine will be installed in the next
fortnight and the full roll-out is expected to be completed in two months.
Cashbox will also be available for Wadworth's 218 tenanted locations and will be
negotiating with each location on a one-by-one basis.
Under the Placement Model, Cashbox retains ownership of the ATM, providing it
for the Merchant's use. Cashbox retains a proportion of the gross Convenience
Fee while the site owner takes responsibility for cash provision, cash
replenishment (from their takings) and telecommunications.
Commenting on the agreement, Jo Skuse, Machine Controller of Wadworth, said: '
Following a favourable trial of the Cashbox ATM programme Wadworth are pleased
to confirm that we have now signed an ongoing contract for Cashbox to supply
ATMs to our pub estate. We have been impressed with the service we have received
to date from Cashbox and are looking forward to a long and mutually beneficial
business relationship.'
Carl Thomas, Chief Executive of Cashbox plc, said: 'We are delighted to have
formed this relationship with Wadworth and look forward to working with the
company going forward. We believe our free placement of ATMs not only delivers
increased footfall to the pubs themselves but they increase customer retention
and cash spend at the bar. There continues to be a significant and growing
demand for convenient cash and Cashbox has a strong pipeline of future ATM
installations.'
- Ends -
For further information:
Cashbox plc
Carl Thomas, Chief Executive Tel: +44 (0) 870 126 2274
cthomas@cashboxatm.co.uk www.cashboxatm.co.uk
Wadworth
Jo Skuse, Machine Controller Tel: +44 (0) 1380 732 268
joskuse@wadworth.co.uk www.wadworth.co.uk
Seymour Pierce Limited
Jeremy Porter, Corporate Finance Tel: +44 (0) 20 7107 8000
Media enquiries:
Abchurch
Henry Harrison-Topham / Gareth Mead Tel: +44 (0) 20 7398 7700
henry.ht@abchurch-group.com www.abchurch-group.com
Notes to editors
Cashbox plc
Cashbox is a leading independent ATM deployer (IAD) with an estate of over 1,000
ATMs in locations around the UK. The Company began trading in September 2003
and was established by brothers Carl and Matt Thomas. Cashbox installs and
operates an estate of ATMs, typically on five to seven year contracts, at sites
throughout the UK where there is a demand for cash withdrawal services and where
customers are willing to pay a convenience fee.
Cashbox was granted membership of LINK in March 2004, allowing Cashbox to
incorporate its ATMs in the LINK network. Cashbox also has a Bank of England
settlement account and became the first IAD in the UK to become completely
compliant with the Triple DES security standard in June 2004.
Cashbox's sales strategy is based on selecting amongst three models to maximise
the profit potential of each ATM site - the Sale Model, the Placement Model and
the Fully Managed Model. The Company intends that the majority of new
installations will use the Placement Model, whereby the ATM is purchased by
Cashbox under lease hire, placed with the merchant and replenished by the
merchant, eliminating the need for third party cash handling costs.
The Company listed on AIM in March 2006.
Wadworth and Company Ltd
Founded in 1875, Wadworth and Company Limited, of Devizes in Wiltshire, is a
traditional brewer of beers. The Northgate Brewery was designed and built by
Henry Wadworth in 1885, and is still run as a family business by his
descendants.
Wadworth now has an estate of over 200 tenanted pubs within the Wiltshire,
Hampshire, Somerset borders which vary from compact community pubs, town centre
houses and classic country inns. Wadworth also has currently 40 managed houses
within the same area.
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.