Gresham Technologies PLC Major Contract Extension with Key Account (8299M)
24 September 2021 - 4:00PM
UK Regulatory
TIDMGHT
RNS Number : 8299M
Gresham Technologies PLC
24 September 2021
RNS
24 September 2021
Gresham Technologies plc
Major contract extension with key account
Gresham Technologies plc (LSE: "GHT", "Gresham", "Group"), the
leading software and services company that specialises in providing
solutions for data integrity and control, banking integration,
payments and cash management, is pleased to confirm that the
Group's largest customer has signed contracts which renew and
materially increase its investment in the company's software and
services.
Over the last few days, Australia and New Zealand Banking Group
Limited ("ANZ") executed contracts totalling over AUD21m to cover
the period 1 October 2021 to 30 September 2022 ("contract
year").
These signed agreements, combined with existing agreements,
provide contractual certainty over the renewal of all existing
Clareti and non-Clareti licences, as well as securing new
incremental revenues from recurring software, recurring managed
services, consulting services and contracting services. Within
these signed agreements:
-- Clareti revenues from ANZ for the contract year are expected to exceed AUD14m, an increase of more than 35%.
Included within these revenues is the Group's innovation partnership with ANZ in cash management, which continues
to develop positively and is directly reflected by an increased investment in Clareti recurring revenues
approaching 40% on the prior contract year.
-- Other Non- Clareti revenues (including the sub-contracting business) for the new contract year are expected to
exceed the AUD16m forecast from the current contract year.
As a result of these contracts, the Group expects to benefit
from revenues in the ANZ contract year in excess of AUD30m. These
contracted account revenues provide significantly increased
confidence over the Group's planned revenues and earnings in FY21,
and an important contribution to FY22.
Enquiries
+44 (0) 207 653
Gresham Technologies plc 0200
Ian Manocha
Tom Mullan
Singer Capital Markets (Financial Adviser and +44 (0) 207 496
Broker) 3000
Shaun Dobson / Jen Boorer (Corporate Finance)
Tom Salvesen (Corporate Broking)
Inside information
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
Note to editors
Gresham Technologies plc is a leading software and services
company that specialises in providing real-time solutions for data
integrity and control, banking integration, payments and cash
management. Listed on the main market of the London Stock Exchange
(GHT.L) and headquartered in the City of London, its customers
include some of the world's largest financial institutions and
corporates, all of whom are served locally from offices located in
the UK, Europe, North America and Asia Pacific.
Gresham's award-winning Clareti software platform is a highly
flexible and scalable platform, available on-site or in the cloud,
designed to address today's most challenging financial control,
risk management, data governance and regulatory compliance
problems. Learn more at www.greshamtech.com.
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END
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