Croma Security Solutions Group PLC Contract Renewal and Uplift (8885P)

TIDMCSSG

RNS Number : 8885P

Croma Security Solutions Group PLC

15 June 2020

15 June 2020

CROMA SECURITY SOLUTIONS GROUP PLC

("CSSG" or the "Company")

Renewal and Uplift to Contact Now Worth GBP5 million Annually

Croma Security Solutions Group Plc is very pleased to announce it has been awarded a significantly expanded contract with a leading owner and developer of central London property. Effective from 1 June 2020, the new contract is for a period of one year with a further two year extension and is worth GBP5 million per annum, replacing an existing contract worth GBP3.6m.

The Company is providing a new ground breaking hybrid service combining premium manned guarding services for 27 commercial and residential central London buildings together with front of house services using security trained receptionists. This new style of front of house service has been developed internally under the brand Croma PROception. It is transforming the modern reception desk and setting new standards for the way front of house security is performed. The new concept has opened the business up to a wider array of talent from other industries with specific customer service backgrounds such as hospitality, hotels and airline professionals. As a direct result we have been able to increase our female staff by 8%, which is a considerable step away from the stigma of the male dominated industry of the past.

Led by ex-policewoman Ruth McGowan, PROception was launched in 2019 and brings the amalgamation of 3 key disciplines: reception, concierge and security, to create the modern front of house professional. Each individual is carefully trained in security protocols so that alongside excellent communication and hosting skills they are also expert in security awareness, access control and visitor management systems. When they are then combined with security professionals as a single team this significantly increases a buildings security.

Sebastian Morley Chairman of CSSG said:

"PROception is a compelling concept. Offering it as a hybrid service with premium manned guarding is a natural fit and we believe takes front of house services and guest experience to the next level. There is little doubt, the modern security market is evolving rapidly reflecting the increasing importance clients attach to managing risk and as a consequence they have rising expectations in terms of services. As a premium provider of security solutions we welcome this and look forward to providing similar services to others."

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) ("MAR") prior to its release as part of this announcement and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For further information visit www.cssgroupplc.com or contact:

Croma Security Solutions Group Plc Tel: [phone]

Sebastian Morley (Chairman)

WH Ireland Limited Tel: [phone]

(Nominated Adviser and Broker)

Mike Coe

Chris Savidge

Novella Tel: [phone]

Tim Robertson

Fergus Young

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June 15, 2020 02:00 ET (06:00 GMT)