Newmark Security PLC US$6m Contract Secured (4054Z)

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RNS Number : 4054Z

Newmark Security PLC

18 September 2015

18 September 2015

Newmark Security plc

("Newmark" or the "Company") (AIM: NWT)

CONTRACT WIN

US$6m Contract Secured for the Delivery of Workforce Management Technology

Following on from the Company's recent preliminary results, where the Board reported a 19.2% increase in turnover and an increased dividend payment of 0.10 pence per share, Newmark, a leading security solutions group, is pleased to announce that its wholly owned subsidiary, Grosvenor Technology Limited ("Grosvenor"), has secured a contract with a major Global Workforce Management partner ("Partner") for the development, manufacture and supply of one of Grosvenor's next generation terminals.

The development costs, partly funded by the Partner, includes incentives for completion of the development work and availability of the terminal in late 2016.

The contract is for a period of 10 years with guaranteed revenues of US$6m over the first five years. The Partner has exclusivity for the terminal for a period of 6 months from the launch of the terminal (with the exception of one existing major customer of Grosvenor).

Workforce Management, an arm of Grosvenor, specialises in the provision of advanced IT clocks and terminals to ensure businesses can manage their workforces in a non-invasive manner, whilst enabling real-time reporting for informed decisions relating to safety, security and effectiveness of their workforce.

By exploiting the latest mobile-inspired touch screen technologies, Grosvenor is able to define a new standard for ease of use, performance and productivity in a design that is both elegant and robust in a harsh commercial environment.

The new terminal will also feature a familiar, standards-based open architecture, ensuring that Independent Software Vendors can quickly and easily deliver tailored experiences that provide access to a wider range of business applications than was previously possible using today's generation of dedicated Time & Attendance terminals. Example applications include attendance recording, collaborative shift planning, shop-floor data collection, health and safety briefings and staff training. The new terminal will continue to support the widest range of authentication solutions including fingerprint scanning technology, to eliminate employee fraud.

Protection against data loss is assured with support for both on-line and off-line data collection and an integrated field serviceable, multi-hour back-up battery. For ease of installation the product is compatible with existing mounting options and can be powered either via a dedicated PSU or Power Over Ethernet (POE).

Due to the confidentiality of the contract, no further details can be disclosed at this time.

Commenting, Marie-Claire Dwek, CEO of Newmark, said: "We are now delighted to be working with this Workforce Management partner and the contract is evidence of the technical expertise and professionalism that exists within Grosvenor."

For further information please see below:

 
 Newmark Security plc 
 Marie-Claire Dwek, Chief                 Tel: +44 (0) 20 
  Executive Officer                             7355 0070 
  Brian Beecraft, Group Finance 
  Director 
                                  www.newmarksecurity.com 
 
 
 Cantor Fitzgerald Europe 
 David Foreman / Michael Reynolds,   Tel: +44 (0) 20 
  Corporate Finance                        7894 7000 
  David Banks / Tessa Sillars, 
  Corporate Broking 
                                      www.cantor.com 
 

Yellow Jersey PR Limited

 
 Dominic Barretto / Anne Sampson Tel: +44 (0) 
  7768 537 739 
                   [e-mail] 
 
 
 

Newmark Security Plc

Newmark Security PLC is a leading provider of electronic and physical security systems, which focus on personal security and the safety of assets. Operating through two established and wholly owned divisions, Grosvenor Technology (Electronic) and Safetell (Physical Security), the Group listed on AIM in 1997.

Grosvenor Technology provides state of the art access control and data acquisition systems delivered via its reputable JANUS access control platform and its CUSTOM brand data-collection terminals. The next generation and recently launched SATEON software is a new and innovative access control concept which delivers all the features of a software based system but in the cloud which combines the advantages of a software based system with cloud technology to improve lifecycle cost, install speed and allow for instant maintenance from anywhere in the world. Grosvenor Technology clients include BAE Systems, UK Air Traffic Control, BSkyB, Merrill Lynch, Bank of America, M & S, Morrisons, Tesco, Network Rail, government departments and many universities. More information can be found at www.grosvenortechnology.com

Offering personnel and asset protection since 1987, Safetell is the UK's leading provider of fixed and reactive security screens, reception counters, cash management systems and associated security equipment. Safetell's customers range from leading blue chip organisations to single sites including banks and building societies, police forces and the Post Office, local authorities and government departments, forecourt retailers and supermarket chains. More information can be found at www.safetell.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

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September 18, 2015 02:00 ET (06:00 GMT)