Spectra Systems Corporation Largest Central Bank Consumables Order (8521P)

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RNS Number : 8521P

Spectra Systems Corporation

12 October 2023

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Spectra Systems Corporation

("the "Company")

Largest Central Bank Consumables Order

Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, brand protection technologies and gaming security software, is pleased to announce that one of its long-time central bank customers for banknote security materials has placed a new order for the year ending 30 September 2024 as part of the five-year contract, which was entered into in 2019.

This consumables order is the largest in the Company's history and approximately 60 per cent. larger by value than the order for the year ended 30 September 2023.

Dr. Nabil Lawandy, Chief Executive Officer, stated: "I am very pleased that we have received such a large order incorporating the 22 per cent. price increase which was agreed last year when we solved our customer's supply chain concerns. This order makes a meaningful contribution to achieving our expected profitability this and next year."

The person responsible for arranging the release of this announcement on behalf of the Company is Dr. Nabil Lawandy, Chief Executive of the Company.

Enquiries:

 
 Spectra Systems Corporation 
 Dr. Nabil Lawandy, Chief Executive           Tel: +1 (0) 401 274 
  Officer                                      4700 
 
 WH Ireland Limited (Nominated adviser 
  and joint broker) 
 Chris Fielding / James Bavister (Corporate   Tel: +44 (0) 20 7220 
  Finance)                                     1650 
  Fraser Marshall (Corporate Broking) 
 
 Allenby Capital Limited (Joint broker) 
 Nick Naylor/James Reeve (Corporate           Tel: +44 (0)20 3328 
  Finance)                                     5665 
 Amrit Nahal (Sales and Corporate Broking)

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October 12, 2023 02:00 ET (06:00 GMT)

Spectra Systems (LSE:SPSY)
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