Universe Group PLC Contract Win & Change of Management Roles (5626B)

TIDMUNG

RNS Number : 5626B

Universe Group PLC

11 June 2021

11 June 2021

AIM: UNG.L

Universe Group plc

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

Contract Win

Change of Management Roles

Universe Group plc (AIM: UNG.L), a leading developer and supplier of retail management solutions, payment and loyalty systems, is pleased to announce a three year extension of an existing contract with a major UK based supermarket involving the provision of forecourt payment capabilities (as previously referred to in the Group's final results). This material contract extension provides further visibility for the Group over future revenues. As previously indicated, the Group had prepared for its fulfilment by acquiring inventory in anticipation which will now unwind as the contract is implemented.

The contract is in addition to the recent five-year extension of an existing contract with a major international oil and gas group (announced in April) and provides a positive outlook for the Group as COVID-19 restrictions look to ease further in the coming weeks.

The Group has continued to trade in line with the Board's expectations for the year to date.

Change of Management Roles

The new Chief Executive, Neil Radley and the new Chief Financial Officer, Adrian Wilding both joined the Group on 1 May 2021. Ivan Brooks steps down from his interim position on 1 July 2021 and we thank Ivan for helping ensure a smooth management transition. Ivan continues to be a non-executive director of the Company.

Notice of AGM

As previously notified, the Group will be hosting its Annual General Meeting at 11 am on 29 June 2021 at its offices at George Curl Way, Southampton SO18 2RX. The notice of this meeting has been posted to shareholders together with the Group's Annual Report. As set out in the notice, the AGM remains subject to social distancing restrictions and limitations and physical attendance at the meeting is not encouraged.

Neil Radley, Chief Executive of Universe Group plc, commented: "The Company has undergone significant internal changes over the last two months and it is good to see that the momentum of the business has not been affected. It is very encouraging to see one of our major retail partners renewing their multi-year relationship with us, a good indication of our standing within the market. Adrian and I continue to review the business and its strategy and we look forward to providing more detailed guidance on the route map at the time of the release of the Company's interim results in September 2021."

For further information:

 
  Universe Group plc                                    Tel: [phone] 
   Andrew Blazye, Executive Chairman 
   Neil Radley, Chief Executive 
   Officer 
   Adrian Wilding, Chief Financial 
   Officer                                               Tel: [phone] 
 
   finnCap 
   Henrik Persson (Corporate 
   Finance) 
   Seamus Fricker (Corporate                             Tel: [phone] 
   Finance) 
   Richard Chambers (ECM) 
 
   IFC Advisory 
   Tim Metcalfe 
   Graham Herring 
   Florence Chandler 
 

About Universe Group plc:

Universe provides some of the world's leading retailers with retail management solutions, payment and loyalty systems. The Group's solutions are based on its own proprietary software and are offered out of the cloud on a software as a service model processing over 20 billion transactions every year. For further information, please see www.universe-group.co.uk

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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June 11, 2021 02:00 ET (06:00 GMT)