Deepverge PLC Significant contract win and Board change (0782P)
07 February 2023 - 4:30AM
UK Regulatory
TIDMDVRG
RNS Number : 0782P
Deepverge PLC
06 February 2023
6 February 2023
DeepVerge PLC
("DeepVerge" or "the Company" or "the Group")
Significant contract win and Board change
DeepVerge (AIM: DVRG), the environmental and life science group
of companies that develops and applies AI and IoT technology to
analytical instruments for the analysis and identification of
bacteria, virus and toxins, announces a significant contract win,
change to the board and to the role undertaken by an existing
director.
Significant contract win
Glanaco, a subsidiary of DeepVerge acquired in March 2022, has
secured a EUR10m (circa GBP9.3m) order from an existing customer in
Central Asia for the design, assembly and supply of multi-function
mobile equipment for use by municipalities for applications
including cleaning, decontaminating, de-icing, and salting streets
and public areas, with relevant data generated by the bespoke
software designed by the Company's subsidiary Rinocloud.
The order comprises a design licensed to the customer, the
initial cGBP3.2m revenues for which were included in the GBP17.2m
(unaudited) total for 2022 announced on 9 January 2023, and
production of 100 units which are contracted to be delivered in
2023, starting in March 2023, with revenues of cGBP6.1m. The order
for 100 units will be managed by Glanaco's plant in Cork, Ireland
where all assembly and testing will be undertaken.
Board and Management changes
Fionan Murray has stepped down from the board with immediate
effect to concentrate during his notice period on maximising the
value of Skin Trust Club and Labskin Division, in line with the
announcement on 20 July 2022 that the Company is exploring a range
of options to meet the unprecedented demand for Labskin services
and the accelerating growth of Skin Trust Club.
Dr Nigel Burton, interim CEO DeepVerge plc, commented:
"I'm pleased to be able to announce this contract, which is a
significant contribution to the 2023 order book and revenues.
I'd like to thank Fin for his significant contribution to the
development of the Company since the acquisition of Rinocloud in
2019. We wish him well in his future endeavours."
Nigel Burton, Interim
DeepVerge plc CEO +44 (0) 7785 234447
SPARK Advisory Partners
Limited +44 (0) 113 370
(Nominated Adviser) Neil Baldwin 8974
----------------------- --------------------
Turner Pope Investments Andy Thacker/James +44 (0) 20 3657
(TPI) Limited (Broker) Pope 0050
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Market Abuse Regulation (MAR) Disclosure
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
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About DeepVerge plc (www.deepverge.com)
DeepVerge is an environmental and life science group of
companies that develops and applies AI and IoT technology to
analytical instruments for the analysis and identification of
bacteria, virus and toxins; Utilising artificial intelligent data
analytics to scientifically prove the impact of skincare product
claims on skin.
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February 06, 2023 12:30 ET (17:30 GMT)
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