Touchstone Gold Limited Update on Investee Company GOS Systems
15 December 2014 - 6:00PM
RNS Non-Regulatory
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Touchstone Gold Limited
15 December 2014
Touchstone Gold Limited (AIM:TGL) ("Touchstone" or the
"Company")
Update on Investee Company GOS Systems
London, 15 December 2014 - Touchstone, the AIM listed investment
company is pleased to provide an update on GOS Systems ("GOS"), a
UK security technology group recently acquired in accordance with
Touchstone's investment policy.
Intelligence Gathering Contract Award
GOS has secured a contract with a national law enforcement
agency in the Asia Pacific region to supply its cellular identity
solutions.
This is an initial agreement that will be fulfilled in the
months ahead, and may lead to additional sales with the customer.
The contract is significant as a reference for other national law
enforcement agencies that are currently in the business development
pipeline.
Additionally, GOS has also received material orders from
existing customers. It should be noted that an important business
development initiative that has been successful in the past few
weeks is an order for an equipment upgrade from a European law
enforcement agency.
These orders give GOS' management further confidence that,
following the restructuring of GOS Systems, not only has the
existing customer base remained intact, but that business
development and expansion plans can be implemented with
confidence.
The aggregate value to GOS of these two sets of contracts for
the calendar year of 2015 is approximately GBP300,000. A further
update on the business plan and revenues beyond the next few months
will be provided at the end of Q1 2015.
Franz Forrester, Chief Operating Officer of Touchstone
commented: "The contracts announced today illustrate GOS' growing
international customer base. GOS' intelligence gathering solution
is designed for global law enforcement agencies, and the company
continues to demonstrate itself as a leader in the provision of
critical cellular monitoring and identification services. These
Asian Pacific contracts are evidence of strong progress for GOS
Systems."
He added, "It will not be our policy to announce contracts and
business development that are considered to be in the ordinary
course of activities. However, following the restructuring of GOS
we believe it is important for investors of TGL to appreciate the
importance and the potential of GOS in the medium to long term, and
in the short term to understand that this is a business with
existing clients, existing operations and existing revenues that
was acquired by TGL, and that the process of going through
administration has not affected the underlying business. Moreover
we are also pleased that the stability afforded to GOS Systems now
allows this talented team to take advantage of two key market
circumstances. Firstly an enhanced appreciation on the part of
customers for technology-led security and secondly a deepening and
long term trend to secure services from European companies."
About GOS Systems
-- GOS' intelligence gathering solutions provide real-time
monitoring of cellular, voice, SMS, and IMSI and IMEI metadata.
-- GOS' safe communications solution offers secure mobile
telephony services to ensure privacy and security for
customers.
-- GOS is nearing completion of an upgrade to its cellular monitoring solution.
For further information please contact:
Touchstone Gold Limited Tel: +44 203 301 9337
Trevor Wells
finnCap Ltd Tel: +44 20 7220 0500
Matthew Robinson / Simon
Hicks
Peterhouse Corporate Finance Tel: +44 20 7469 0936
Limited
Lucy Williams
This information is provided by RNS
The company news service from the London Stock Exchange
END
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