Spectra Systems Corporation New Five Year Contract with G7 Central Bank (3991L)
03 October 2016 - 5:00PM
UK Regulatory
TIDMSPSY TIDMSPSC
RNS Number : 3991L
Spectra Systems Corporation
03 October 2016
Spectra Systems Corporation
("The Company" or "Spectra")
Spectra Systems executes new five year contract with G7 central
bank
Spectra stated in its interim results for the six months ended
30 June 2016 that negotiations with its ongoing G7 Central Bank
customer concerning a five year material supply contract had been
substantially completed.
The Company is therefore delighted to announce that on 30
September 2016 it executed this contract which will allow for the
long-awaited manufacture in-house of authentication materials for
this Bank.
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
Dr. Nabil Lawandy, CEO of Spectra Systems, stated: "We are
delighted to announce this contract which now enables us to bring
in house the manufacture of all of Spectra's covert materials for
this G7 Bank, together with those for the rest of our end
customers.
"As stated in our interim results, we anticipate this resulting
in a 35% increase in blended gross profit on such materials, once
existing inventories for our other end customers are used."
Enquiries:
Spectra Systems Corporation
Dr. Nabil Lawandy, Chief Executive Officer Tel: +1 (0) 401 274
4700
WH Ireland Limited
Chris Fielding (Head of Corporate Finance) Tel: +44 (0) 20 7220
1650
This information is provided by RNS
The company news service from the London Stock Exchange
END
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