Xchanging PLC Contract Renewal (0116U)

TIDMXCH

RNS Number : 0116U

Xchanging PLC

04 April 2016

4 April 2016

Xchanging plc

Xchanging renews contract with WorkSafe Victoria, Australia with additional market share

Xchanging plc ('Xchanging'), the business technology and services provider, today announces that it has renewed its contract with WorkSafe to provide workers' compensation policy and claims management services in the State of Victoria, Australia. The new 5 year contract increases the market share held by Xchanging from c.13% to approximately 19%.

Xchanging has been working with WorkSafe in Victoria since July 2002. Xchanging has provided a number of services to WorkSafe including registering and maintaining employer insurance policies, collecting premiums, managing claims in accordance with the State of Victoria legislation and policies, and providing claims and risk management services to employers.

Craig Wilson, Chief Executive Officer, commented: "I am delighted that Xchanging will continue to be a trusted provider of claims and policy insurance services to WorkSafe. The new contract demonstrates Xchanging's excellent performance in the Victoria scheme over a number of years and our deep industry expertise in the insurance industry globally. We look forward to continuing to assist injured workers to return to work."

Enquiries

Xchanging Tel: [phone]

David Bauernfeind, Chief Financial Officer

Emma Darke, Investor Relations Manager

Maitland Tel: [phone]

Emma Burdett

Dan Yea

www.xchanging.com

@XchangingGroup

Linkedin/company/xchanging

Cautionary Statement:

This announcement contains forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as anticipate, target, expect, estimate, intend, plan, goal, believe, will, may, should, would, could, is confident, or other words of similar meaning. In particular, any statements regarding Xchanging's strategy, dividend policy and other future events or prospects are forward-looking statements. Undue reliance should not be placed on any such statements because they speak only as at the date of this announcement and, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and Xchanging's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements.

These forward-looking statements are not guarantees of future performance and there are a number of factors (many of which are outside of Xchanging's control) which could cause actual results to differ materially from those expressed or implied in forward-looking statements. Among these factors are: increased competition, the loss of or damage to one or more key customer relationships, changes to customer ordering patterns, delays in obtaining customer approval or price level changes, the failure of one or more key suppliers, the outcome of business or industry restructuring, the outcome of any litigation, changes in economic conditions, currency fluctuations, changes in interest and tax rates, changes in raw material or energy market prices, changes in laws, regulations or regulatory policies, developments in legal or public policy doctrines, technological developments, the failure to retain key management, or the key timing and success of future acquisition opportunities or major investment projects.

Save for those forward-looking statements required by the Listing Rules, the Disclosure and Transparency Rules and/or the Prospectus Rules, Xchanging undertakes no obligation to update these forward-looking statements, and will not publicly release any revisions it may make to these forward-looking statements that may result from events or circumstances arising after the date of this announcements. Xchanging therefore will comply with its obligations to publish updated information as required by law or by any regulatory authority but assumes no further obligation to publish any additional information.

This information is provided by RNS

The company news service from the London Stock Exchange

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April 04, 2016 02:00 ET (06:00 GMT)