Touchstar PLC Contract Award (5924F)

TIDMTST

RNS Number : 5924F

Touchstar PLC

08 November 2022

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

8 November 2022

Touchstar plc

("Touchstar", the "Company" or the "Group")

Contract Award

Touchstar plc (AIM:TST), suppliers of mobile data computing solutions and managed services to a variety of industrial sectors, is pleased to announce that it has won a substantial order from a Petrochemical Distribution client (Touchstar's largest market) to upgrade them to Touchstar's latest cloud-based solution. The contract award is worth in excess of GBP1.5m in the first twelve months with subsequent years benefitting from recurring revenues under a multiyear licencing and support agreement.

Following this award, the Company's order book stands at GBP2.3 million a significant increase on the GBP1 million reported in the Company's interim results released on the 15 September 2022.

This contract award and order book level reinforces our expectations for FY2022 and FY2023 and that the uptick in activity we have seen in the Petrochemical Distribution sector will continue and develop into further order intake.

For further information, please contact:

 
 Touchstar plc                                   www.touchstarplc.com 
  Ian Martin                                            0161 874 5050 
  Mark Hardy                                            0161 874 5050 
 
 WH Ireland - Nominated Adviser & Broker          www.whirelandcb.com 
  Corporate Finance - Mike Coe/Sarah Mather             020 7220 1666 
 

Information on Touchstar plc can be seen at: www.touchstarplc.com

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November 08, 2022 02:00 ET (07:00 GMT)