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RNS Number : 1764Z

FireAngel Safety Technology Group

12 May 2023

 

RNS

12th May 2023

FireAngel Safety Technology Group plc

 ('FireAngel', the 'Company' or the 'Group')

Contract Win

FireAngel (AIM: FA.), one of Europe's leading developers and suppliers of home safety products, announces that it has been commissioned by a government agency to supply smoke and heat alarms for a large, connected alarm project for low income families in the Middle East.

The contract, which is valued at an estimated £1.5 million, will be delivered over the next six months, commencing this month. It includes the supply of over 60,000 Connected smoke and heat alarms, which will be installed in over 5,000 properties.

Zoe Fox, Chief Finance Officer, commented:"We are delighted with this latest contract, which is further testament to the continuing demand for our Connected products, both in the UK and overseas. Our Connected technology is designed to provide the highest level of protection at all times and we are well positioned to meet the growing demand for fire safety technology."

 

ENDS

 

For further information, please contact:

FireAngel Safety Technology Group plc	024 7771 7700
Zoe Fox, Chief Finance Officer
Shore Capital (Nominated adviser and broker)	020 7408 4050
Tom Griffiths/David Coaten/Tom Knibbs
Houston (Financial PR)	0204 529 0549
Kate Hoare/Ben Robinson

Notes to Editors

About FireAngel Safety Technology Group plc

FireAngel's mission is to protect and save lives by making innovative home safety products which are simple and accessible. FireAngel is one of the market leaders in the European home safety products market. 

FireAngel's principal products are connected smoke alarms, CO alarms, heat alarms and accessories.  The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories.  Products are sold under FireAngel's leading brands of FireAngel, FireAngel Pro, FireAngel Specification and AngelEye.

For further product information, please visit: www.fireangeltech.com

 

 

 

 

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RNS Number : 3230Y

Crimson Tide PLC

04 May 2023

 

This announcement contains Inside Information

4 May 2023

Crimson Tide plc

("Crimson Tide" or "the Company")

Further contract win and renewals

 

Crimson Tide Plc (TIDE) ("Crimson Tide" or "The Company"), the provider of the mpro5 solution, is pleased to announce a further contract win with the NHS.

The Company recently announced the initial win with this Trust, whereby the implementation of mpro5 will drive efficiencies and savings across the Trust's estates. We have now received the contract to add Internet of Things ("IoT") sensors, which will enable one of mpro5's key differentiators, sensor driven actions, to facilitate more effective use of staff and facilities within the Trust. This additional thirty six month contract of c£300k takes the full contract value to over £0.5m over a three year term.

In addition, the Company is pleased to report the renewal of a number of long term contracts, once again demonstrating that mpro5's commitment to excellence of service is rewarded with long lasting and strategic relationships with our clients.  

In the last 3 months, 4 of our long term clients have decided to not only continue with mpro5 but to add further users or use cases where mpro5 helps to deliver their business critical processes. All four clients will have been mpro5 subscribers for over a decade at the end of their new contracts with a combined total of in excess of £650k of secured contracted revenue.  

Chairman Barrie Whipp commented,  "We are very pleased to add mpro5's sensor driven actions to our initial contract with this NHS Trust, which we believe will drive direct savings and improvements across its estate. Our goal is to work with the Trust to establish a repeatable series of processes and procedures that drive compliance and efficient use of staff and facilities. As can be seen from our recent renewals, which demonstrate a wide range of use cases, our goal is to ensure our clients trust us for the long term and use mpro5 to provide an increasing range of solutions."

 

 

Enquiries:

Crimson Tide plc      +44 1892 542444

Barrie Whipp / Jacqueline Daniell

finnCap Ltd (Nominated Adviser and Broker)   +44 20 7220 0500

Julian Blunt / Milesh Hindocha, Corporate Finance

Andrew Burdis, Corporate Broking  

Alma PR (Financial PR)      +44 7780 901979

Josh Royston

 

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RNS Number : 8849X

TPXimpact Holdings PLC

28 April 2023

 

 

 

28 April 2023

T PXimpact Holdings PLC

( "TPX", "T PXimpact ", or the "Company")

Contract wins

Two significant contract wins with critical central government departments

Two-year digital transformation contract with Department for Education worth up to £27.4 million and four-year digital transformation contract with His Majesty's Land Registry worth up to £49 million

 

TPXimpact Holdings PLC (AIM: TPX), a technology-enabled services company focused on digital transformation, announces two significant contract wins with two UK central government departments. Combined, the contracts will deliver a cumulative value of up to £77 million over a four year period and demonstrates TPXimpact's position as a leading provider of digital transformation services to the public sector.

The first is a two-year contract with the Department for Education (DfE) worth up to £27.4 million, commencing in May 2023. TPX has been appointed to lead a consortium of  suppliers with specialist expertise across all of the Digital, Data and Technology (DDaT) Profession Capability Framework job families, to design, develop and iterate digital services for Teachers and related users.

 

The second contract win is with His Majesty's Land Registry (HMLR) and is TPX's largest to date, worth up to £49 million over a four-year period, commencing in May 2023. TPX has been appointed HMLR's Digital, Data, and Technology (DDaT) Delivery Partner and will provide a range of digital and technical transformation programmes to support HMLR's ambitions to deliver a more efficient and effective service to its users.

 

This includes providing secure and efficient land registration, enabling digital property buying and selling, providing near real-time property information, offering accessible digital register data, and collaborating with property market partners to conduct research and accelerate change. This partnership builds on TPX's long-standing relationship with HMLR and proven track record of success as both a user-centred design and product management partner.

 

 

Bjorn Conway, Chief Executive Officer of TPXimpact Holdings PLC, commented:

 

"Our projects with the DfE and HMLR underscore the strength of our offering across digital transformation services, which will prove essential in driving the automation of critical government systems and services. Winning these contracts following a competitive tender process highlights the quality of our offering and consolidates our position as a leading provider of digital transformation services to the public sector.

 

With the Group optimised for efficiency under one brand, these contracts also represent the scale and value of the projects TPXimpact can deliver. As an agile organisation with end-to-end digital transformation capabilities, we continue to target larger and longer-term contracts across both the public and private sectors. We are excited to embark on these partnerships and look forward to the opportunities they unlock for further growth and innovation."

 

– Ends –

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. The person responsible for this announcement is Steve Winters, Group CFO.
 

Enquiries: TPXimpact Holdings PLC Bjorn Conway, Group CEO Steve Winters, Group CFO   Stifel Nicolaus Europe Limited (Nomad and Joint Broker) Alex Price Fred Walsh Ben Burnett	Via Alma PR       +44 (0) 207 710 7600
Dowgate Capital Limited (Joint Broker) James Serjeant David Poutney Russell Cook	+44 (0) 203 903 7715
Alma PR (Financial PR) Josh Royston Kieran Breheny Matthew Young	+44 (0) 203 405 0209 [email protected]

 

About TPXimpact

TPXimpact exists to transform the organisations, services and systems that underpin society and that drive business success. It applies strategic and creative thinking, technology, innovative design and user-centred approaches to bring about numerous improvements which together multiply the impact of change.

The Company works closely with its clients in agile, multidisciplinary teams that span organisational design, technology, and digital experiences. It shares a deep understanding of people and behaviours and a philosophy of putting people and communities at the heart of every transformation.

The business is being increasingly recognised as a leading alternative digital transformation provider to the UK public services sector, with c.65% of its client base representing the public sector and c.35% representing the commercial sector.

More information is available at www.tpximpact.com.

 

 

 

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RNS Number : 8264W

Trakm8 Holdings PLC

20 April 2023

 

 

 

20 April 2023

Trakm8 Holdings plc

("Trakm8", the "Group" or the "Company")

Contract Award

Trakm8 Holdings plc (AIM: TRAK), the global telematics and data insight provider, is pleased to announce that the Company has been awarded a new contract with Freedom Services Group.

Under this contract, Trakm8 will provide insurance data services and devices to Freedom Connect, including Trakm8's advanced connectedcare data sets and FNOL (First Notification of Loss) crash algorithm. The contract is for an initial term of three years.

This contract is expected to generate revenues in excess of £6m over the first three years.

John Watkins, Trakm8's Executive Chairman, commented "We have been supplying devices and data to Freedom for some two years via a third party and more recently directly and this contract increases the demand and secures our position with one of the UK's fast growing and most successful insurance MGAs. This contract helps to underpin the Board's expectations for the growth of Trakm8's insurance business."

 

– Ends –

 

For further information:

Trakm8 Holdings plc
John Watkins, Executive Chairman	Tel: +44 (0) 1675 434 200
Jon Edwards, Chief Financial Officer	www.trakm8.com
Allenby Capital Limited  (Nominated Adviser & Broker)	Tel: +44 (0)20 3328 5656
David Hart/ Vivek Bhardwaj, Corporate Finance Tony Quirke/ Joscelin Pinnington, Sales and Corporate Broking	www.allenbycapital.com

 

About Trakm8

 

Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group uses AI data analytics collected from its installed base of telematics units to fine tune the algorithms that are used to produce its' solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.

 

The Group's product portfolio includes the latest data analytics and reporting portal (Trakm8 Insight), integrated telematics/cameras/optimisation, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 318,000 connections.

 

Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Sainsbury's, Saint Gobain, EON, Iceland Foods, GSF, Direct Line Group, Ticker and Ingenie.

 

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005. Trakm8 is also recognised with the LSE Green Economy Mark.

 

www.trakm8.com / @Trakm8

 

 

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RNS Number : 5013W

LifeSafe Holdings PLC

18 April 2023

 

For immediate release

18 April 2023

 

 

LifeSafe Holdings plc

('LifeSafe', the 'Group' or the 'Company')

 

Launch of new StaySafe All-in-1 fire extinguisher

 

LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire extinguishing fluids and fire safety products, is pleased to announce the launch of its new StaySafe All-in-1 fire extinguisher featuring the Group's next generation fluid.  The new StaySafe All-in-1 is specifically designed to tackle ten different types of fire, replacing the successful StaySafe 5-in-1 fire extinguisher.

 

New StaySafe All-in-1 fire extinguisher

 

The Board is delighted to announce the UK launch of LifeSafe's new StaySafe All-in-1 fire extinguisher .  This uses a variant of the Group's core eco-friendly patented fluid, FER1000, and significantly increases to ten the number of types of fire which can be extinguished using a single bottle, being: 

 

· Lithium-ion batteries

· Bio-ethanol

· Motor oil

· Bio-diesel

· Diesel

· E5 & E10 petrol

· Electrical

· Textiles

· Timber/wood

· Cooking oil

 

The new StaySafe All-in-1 builds on and replaces the Group's successful debut product, the StaySafe 5-in-1, and makes the 'one stop shop' fire-extinguishing proposition even more compelling.  The international launch of the StaySafe All-in-1 will commence in H1 2023 through the Group's consumer and wholesale sales channels.

 

The evolution of this new fluid builds on the launch, in December 2022, of the Group's industrial-focused Lithium Thermal Runaway Fluid, designed to permanently extinguish and prevent the re-ignition of lithium-ion battery fires.

 

As with all the Group's existing extinguishing fluids, LifeSafe's new StaySafe All-in-1 is a non-toxic, non-hazardous, eco-friendly solution.

 

Dominic Berger, Executive Chairman of LifeSafe, said: "I am delighted to be able to announce the launch of our new All-in-1 fire extinguisher.  This once again highlights the innovative and dynamic nature of the Group and marks a major step forward in fire safety.  By being able to extinguish ten different types of fire, including lithium-ion batteries, whilst being eco-friendly, this product can provide people 'peace of mind' that what matters most to them will be protected.

 

"Alongside our strong FY22 results figures announced today, this launch shows that the business continues to go from strength to strength and I am very excited by what lies ahead for LifeSafe.''

 

– Ends –

 

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.

 

The person responsible for arranging the release of this announcement on behalf of the Company is Mike Stilwell, Chief Financial Officer of the Company.

 

 

LifeSafe Holdings plc	Via Buchanan
Dominic Berger, Executive Chairman	www.lifesafeholdingsplc.com
Neil Smith, CEO
Mike Stilwell, CFO
WH Ireland Limited (Nominated Adviser & Broker)	Tel: +44 (0) 20 7220 1666
Chris Fielding
Darshan Patel
Buchanan (Financial Communications)	Tel: +44 (0) 20 7466 5000
Henry Harrison-Topham	[email protected]
Jack Devoy

 

 

Notes to Editors

 

LifeSafe is a fire safety technology business that develops eco-friendly, novel and innovative fire extinguishing fluids with a range of life-saving fire safety products.  Through its highly experienced management team, LifeSafe is seeking to create new markets for the Group in fire safety through new technologies, digital marketing and multi-channel sales.

 

LifeSafe has developed what the Directors believe to be a market disrupting range of eco-friendly fire safety protection products including, launched in December 2022, a new Thermal Runaway Fluid to combat thermal runaway in lithium battery fires by permanently extinguishing and preventing the re-ignition of lithium fires.  This is an evolution of the Group's core FER1000 extinguishing fluid, for which the Group has been granted a patent in the UK, which has been developed by LifeSafe to extinguish five different types of fire: electrical, paper, textiles, cooking oil, and petrol and diesel.

 

The Group's best-selling product using this extinguishing fluid is the StaySafe 5-in-1 fire extinguisher.  It was launched on Amazon Prime in the UK in August 2021 and subsequently became Amazon Prime's top-selling fire extinguisher in the UK in the same month.  The StaySafe 5-in-1 and the PanSafe pan fire extinguisher were launched in Screwfix in Spring 2022.

 

LifeSafe is continuing to develop new fluid derivations for the industrial market.

 

LifeSafe was admitted to trading on AIM in July 2022 with the ticker LIFS.L.  For additional information please visit https://www.lifesafeholdingsplc.com .

 

LinkedIn: https://www.linkedin.com/company/lifesafe-technologies

Twitter: https://twitter.com/LifesafeT

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

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RNS Number : 0428W

Pennant International Group PLC

13 April 2023

 

 

FOR IMMEDIATE RELEASE                                                                                          13 April 2023

 

PENNANT INTERNATIONAL GROUP PLC

 Acquisition of UK Rail Services Business

  Significantly enhances existing Rail offering, adds recurring revenues and further diversifies Group business lines

 

Pennant International Group plc (AIM: PEN) (the "Company", the "Group"), a leading global provider of training technology and integrated product support solutions, is pleased to announce that it has acquired the entire issued share capital of Track Access Productions Limited ("TAP", the "Acquisition").

 

About TAP

 

·     Based in Bedfordshire, TAP was established in 2001 and provides driver training, route mapping and route familiarisation services to the UK rail industry. Clients comprise train operating companies, freight operating companies, engineering prime contractors and infrastructure providers.

 

·     Revenues are generated through a subscription-based web portal and through project-specific route mapping services.

 

· For the financial year ended 31 March 2023 ("FY23"), TAP's management accounts indicate:

 

o  revenues of circa £600,000 (FY22: £481,000) of which 50% is recurring, relating to portal subscriptions; and

 

o  profit before tax ("PBT") of circa £200,000 (FY22: PBT of £180,821).

 

·     The vendors, Ian and Jill Heys, the founders and owner/managers of TAP, will work a short transitional period to ensure a smooth handover. The rest of TAP's employees and consultants are expected to remain with the business.

 

Summary of the key terms of the Acquisition

 

·       The consideration payable in respect of the Acquisition comprises an enterprise value of £585,000, plus an amount of circa £389,000 in respect of TAP's 'free cash' after allowing for normalised working capital and repayment of debt ("Cash Free, Debt Free Adjustment").

 

·     The initial consideration payable is circa £798,500 (being 70% of the enterprise value, i.e. £409,500, plus the Cash Free, Debt Free Adjustment).

 

· A completion payment of £638,610 has been settled, based on verified estimates of the Cash Free, Debt Free Adjustment, with a balancing payment of circa £160,000 within the next two months following the production of completion accounts (to allow for any correction of estimates).

 

·   The balance of the overall consideration, comprising a deferred payment of £175,500 (being the remaining 30% of the enterprise value) is due 12 months after completion.

 

·     The acquisition agreement contains customary warranties and indemnities in respect of title, tax and various commercial matters as well as buyer protections in the form of restrictions on the future activities of the vendors and rights of setoff.

 

· The Acquisition is being funded entirely from the Group's existing cash resources.

 

Benefits of the Acquisition

 

· TAP's business aligns closely with Pennant's existing Track Access business unit and the Acquisition will consolidate the Group's presence in this market. The combined unit is expected to generate revenues for 2023 in the region of £850,000 and will be able to provide an enhanced offering to a broader customer base.

 

· The Acquisition also aligns with the Company's strategy, in particular it enhances the Group's recurring revenues, further diversifying into civilian markets, whilst bolstering the Group's 'third pillar' of rail products and services, complementing the Group's traditional core of IPS software and training technology.

 

 

Phil Walker, Group CEO , commented: "I am delighted to confirm the acquisition and to welcome the TAP team into the Pennant Group. TAP is an excellent business with a long-standing, trusted reputation in the UK rail market and we look forward to working together to integrate TAP into Pennant's growing rail offering."

 

 

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.

 

 

Enquiries:

 

Pennant International Group plc	www.pennantplc.co.uk
Philip Walker, CEO David Clements, Commercial & Risk Director	+44 (0) 1452 714 914
WH Ireland Limited (Nomad and Broker)	https://www.whirelandplc.com/capital-markets
Mike Coe Sarah Mather	+44 (0) 20 7220 1666
Walbrook PR (Financial PR)	[email protected]
Paul Vann Joe Walker	+44 (0)20 7933 8780 Mob: +44 (0)7768 807631

 

 

 

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

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RNS Number : 3860V

Crimson Tide PLC

05 April 2023

 

This announcement contains Inside Information

 

5 Apr 2023

 

Crimson Tide plc

("Crimson Tide" or "the Company")

 

Contract win with NHS Trust

 

 

Crimson Tide plc (TIDE), the provider of the mpro5 Smart App Solution, is pleased to announce a contract win with an NHS trust in the South East of England with a scalable upside opportunity.

 

The initial contract value is c£250k over its initial 36-month term; however, the project is anticipated to increase in size and contracted revenue later in the year.

 

mpro5 will help the Trust understand the current condition and level of statutory compliance of each space in its facilities, supplemented by data captured on our mobile app from a wide range of incidents with associated rectification and response times. Our smart app solution will enable different departmental datasets to be consolidated and enable aggregated compliance processes to be completed on smartphones and tablets.

 

mpro5's KPI dashboards will display calculations of actions to costs and highlight efficiencies and remedial actions for the first time in a consolidated manner. Data integrity is critical, and the mpro5 infrastructure in Microsoft Azure will ensure accurate current and historical data with industry-leading security and uptime.

 

The Company anticipates adding its Internet of Things ("IoT") module later this year, projecting the installation of over 1,000 sensors to enable sensor-driven actions, one of mpro5's key differentiators.

 

Barrie Whipp, Chairman, commented: "To be able to deploy mpro5's full functionality across an entire NHS Trust is a validation of our mobile web and reporting functionality and displays our ability to help flexibly improve compliance and efficiency. Micro reporting on space compliance and costs will lead to a greater understanding of how NHS Trusts can improve their operational effectiveness. The anticipated addition of our IoT module later in the year will enable sensor-driven actions to improve efficiency further, as well as reduce costs and should appeal to other trusts – we see this first installation as a flagship site."

 

 

For further information, please contact:

 

Crimson Tide plc	+441892542444
Barrie Whipp / Jacqueline Daniell / Peter Hurter
finnCap (Nominated adviser and Broker)
Corporate Finance: Julian Blunt / Milesh Hindocha	+44 20 7220 0500
Corporate Broking: Andrew Burdis	+44 20 7220 0500
Alma PR – (Financial PR)
Josh Royston / Will Ellis Hancock	+44 7780 901 979

 

Crimson Tide provides mpro5, the Smart App Solution. For further information, see mpro5.com and on Crimson Tide plc, crimsontide.co.uk

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

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RNS Number : 3860V

Crimson Tide PLC

05 April 2023

 

This announcement contains Inside Information

 

5 Apr 2023

 

Crimson Tide plc

("Crimson Tide" or "the Company")

 

Contract win with NHS Trust

 

 

Crimson Tide plc (TIDE), the provider of the mpro5 Smart App Solution, is pleased to announce a contract win with an NHS trust in the South East of England with a scalable upside opportunity.

 

The initial contract value is c£250k over its initial 36-month term; however, the project is anticipated to increase in size and contracted revenue later in the year.

 

mpro5 will help the Trust understand the current condition and level of statutory compliance of each space in its facilities, supplemented by data captured on our mobile app from a wide range of incidents with associated rectification and response times. Our smart app solution will enable different departmental datasets to be consolidated and enable aggregated compliance processes to be completed on smartphones and tablets.

 

mpro5's KPI dashboards will display calculations of actions to costs and highlight efficiencies and remedial actions for the first time in a consolidated manner. Data integrity is critical, and the mpro5 infrastructure in Microsoft Azure will ensure accurate current and historical data with industry-leading security and uptime.

 

The Company anticipates adding its Internet of Things ("IoT") module later this year, projecting the installation of over 1,000 sensors to enable sensor-driven actions, one of mpro5's key differentiators.

 

Barrie Whipp, Chairman, commented: "To be able to deploy mpro5's full functionality across an entire NHS Trust is a validation of our mobile web and reporting functionality and displays our ability to help flexibly improve compliance and efficiency. Micro reporting on space compliance and costs will lead to a greater understanding of how NHS Trusts can improve their operational effectiveness. The anticipated addition of our IoT module later in the year will enable sensor-driven actions to improve efficiency further, as well as reduce costs and should appeal to other trusts – we see this first installation as a flagship site."

 

 

For further information, please contact:

 

Crimson Tide plc	+441892542444
Barrie Whipp / Jacqueline Daniell / Peter Hurter
finnCap (Nominated adviser and Broker)
Corporate Finance: Julian Blunt / Milesh Hindocha	+44 20 7220 0500
Corporate Broking: Andrew Burdis	+44 20 7220 0500
Alma PR – (Financial PR)
Josh Royston / Will Ellis Hancock	+44 7780 901 979

 

Crimson Tide provides mpro5, the Smart App Solution. For further information, see mpro5.com and on Crimson Tide plc, crimsontide.co.uk

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

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RNS Number : 2253V

Ocean Harvest Technology Group PLC

04 April 2023

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND DEPENDENCIES, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (COLLECTIVELY, THE "UNITED STATES"), CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW

4 April 2023

 

Ocean Harvest Technology Group plc

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

Admission to Trading on AIM and First Day of Dealings

Ocean Harvest Technology Group plc, a leading global producer of animal feed additives from multispecies seaweed blends, is pleased to announce the admission of its entire issued ordinary share capital to trading on AIM ("AIM"), a market operated by the London Stock Exchange plc ("Admission"). Admission will take place and dealings will commence at 8.00 am GMT today under the ticker OHT. The Company's Admission Document is available to view on the Company's website at www.oceanharvesttechnology.com .

OHT delivered product revenue of €2.5million in 2022, a 67% increase on the prior year, and continues to see strong demand for its products. The Company has a market leading position in a multi billion dollar market with substantial barriers to entry. The Directors remain confident in achieving further significant revenue growth in 2023 and look forward to driving further commercial progress across the Group.

finnCap Ltd is acting as Nominated Adviser and sole broker in relation to the Admission.

Key Highlights:

 

· Based on the placing price of 16p, the market capitalisation of the Company will be approximately £20 million at Admission

· Placing raised gross proceeds of £6 million

· The Company's ISIN is GB00BQKR6R17 and the SEDOL is BQKR6R1

· Following Admission the Company will have 125,855,697 Shares in issue

 

The Company will provide a live presentation via Investor Meet Company in April. The presentation will be open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation. Investors can sign up to Investor Meet Company for free and add to meet via: https://www.investormeetcompany.com/ocean-harvest-technology-group-plc/register-investor .

 

Mark Williams, CEO, Ocean Harvest Technology, commented:

"Today's listing is an important milestone for Ocean Harvest Technology and will assist the rapid growth of the Group. The funds raised will enable the Group to continue to strengthen its global sales team and build out its supply chain. We will also continue to invest in R&D to innovate and enhance our existing customer offering in the fast growing markets the Group operates in.

"I am grateful for all the hard work of our team, and I would like to thank our new and existing shareholders for their support. We are confident in our ability deliver on the opportunities ahead and I look forward to providing updates on our progress as our business develops."

 

Capitalised terms used in this announcement and not separately defined shall have the meaning given to them in the Company's Admission Document.

 

 

Overview of Ocean Harvest Technology

Ocean Harvest Technology is one of the leading commercial scale producers of seaweed blend ingredients for the animal feed market.

The Group was founded in 2005 on the belief that an investment in research and development would result in the ability to create seaweed ingredients that would deliver a number of specific benefits across multiple animal species based on the polysaccharides and other bioactive ingredients present in particular species of seaweeds.

Since its establishment, the Group, through its research and development programme, continues to build a portfolio of intellectual property and has had commercial success in selling its products as ingredients to improve the efficiency, profitability and sustainability of the animal feed chain by delivering improvements in animal gut health.

The Group's intellectual property portfolio (comprising trade secrets, know-how, various pending patent applications and trade marks), developed in-house and in conjunction with a number of academic and corporate partners, has enabled the Group to demonstrate the significant and positive impacts of its products to potential customers. Alongside this, the Group has focused on the growth of its global seaweed supply chain from harvesters and other suppliers. Harvested seaweeds are transported to the Group's facility in Vietnam where they are processed into OceanFeed TM feed ingredients for multiple species of animals. The Directors estimate that the Group has spent over €20 million to date in R&D and commercialising its products.

The Group continues to invest in R&D, the sourcing of seaweed, and the processing and marketing of its products, as the Group pursues its growth strategy with the aim of becoming the largest supplier of proprietary blended seaweed ingredients to the global animal feed industry. The Company is headquartered in Theale, UK with further operations in Galway, Ireland and Binh Duong Province, Vietnam. The Group has grown to comprise a team of over 40 full time employees.

The Group has a growing base of customers who buy its products on a regular and recurring basis and a number of these have increased their spend over time. In FY22, the Group reported total revenue of €3.0 million and product revenue of €2.51 million, with a three-year CAGR in product revenue of 46 per cent. This is up from €1.51 million of product revenue in FY21, an increase of 67 per cent. The Group has seen further revenue growth in the first two months of the current year and expects to deliver substantial growth in 2023.

The Directors believe that the Group's business is scalable and that it is well positioned to pursue its growth strategy of targeting increasing spend by existing customers, on-boarding new customers based on the demonstrated benefits of its products and penetrating new geographic markets. The Company also anticipates upcoming R&D and trial data demonstrating a range of benefits provided by its feed additives, which the Directors believe will enable Ocean Harvest Technology to attract new customers and access new markets within the animal feed industry.

Key Strengths

· Market leading position – the Group is a leading producer of seaweed blend ingredients, at scale, for the animal feed market.

 

· High barriers to entry – to date, Ocean Harvest Technology has invested heavily in its R&D programme and trials which demonstrate both the benefits which can be achieved by its animal feed products and also the mode of action through which these are generated. This know-how and trial data are protected by the Group, and the Directors believe it would take a potential competitor many years to replicate these. Ocean Harvest Technology has strong commercial traction with a growing customer base of over 30 customers globally. The customer acquisition cycle can take many months, or even years, to complete and therefore potential new entrants would likely require significant time and investment to replicate this growth in new customers. Ocean Harvest Technology has an established, broad and diversified seaweed supply chain nurtured during its operating history of over 10 years. This supply chain is designed to operate across geographically diverse areas, cope with seasonal variability in yields and manage the many quality control requirements that must be satisfied for its products to be sold as a feed ingredient.

 

· A large and growing global market – the animal feed market produces globally over 1 billion metric tonnes of animal feed per year, which in 2021 had an approximate value of US$500 billion. This market tends to grow in line with GDP growth, but the feed additive and specific ingredient segments have been growing faster in recent years and are forecast to grow at 5 per cent. from 2021 to 20311. Ocean Harvest Technology currently has a very small penetration of this market and the Directors believe that the Group has significant opportunity for growth.

 

· Proprietary IP – Ocean Harvest Technology continues to build up its portfolio of intellectual property rights through R&D, know-how, trials, trade marks and various pending patent applications, trade marks and know-how. The IP portfolio covers many valuable areas, including the efficacy of the specific bioactive compounds in seaweeds, the application of those compounds for use in generating improved gut health in animals through their pre-biotic effect, the specific mode of action these have in the animal's microbiome and trial data to demonstrate the effectiveness of Ocean Harvest Technology's products in harnessing these benefits at commercial scale in multiple animal species as a feed ingredient. The Company continues to invest in its R&D and further develop its intellectual property portfolio. The objective of this is to demonstrate further commercial application of its existing products and to develop new products to serve additional markets.

 

· Sustainable and socially responsible ESG investment – Ocean Harvest Technology uses naturally growing, sustainably sourced seaweeds in its products. These seaweeds are either sourced from natural wild blooms, which occur periodically, or from seaweed plants harvested on a rotation basis which ensures sustainable regrowth of the plant. Unlike other feed ingredients, the Company's sourcing does not utilise material quantities of land, fresh water, fertilisers or other chemicals. Ocean Harvest Technology's seaweed supply chain has helped develop local industries and provide the harvesting communities with recurring income streams, enabling further investment in these often remote coastal regions.

 

· Robust commercial prospects – Ocean Harvest Technology has a significant opportunity to grow its sales and better serve what is a very large and growing addressable market. It is also aiming to increase its customer reach within the animal feed industry with further R&D, which the Directors believe will demonstrate additional benefits of using of the Company's products across a broader range of applications. The Directors also believe that the benefits of the Group's products will, in the future, be able to be applied through new products to other large scale markets such as the human food chain and soil conditioners.

 

· Credible and experienced management team – The Board and the Group's executive management team consists of experienced figures in the industry. The Directors believe that this will enable the Group to successfully pursue its growth strategy and develop new opportunities. Additionally, between them the Board has public market experience of both AIM and other stock exchanges.

Contacts

 

Ocean Harvest Technology Group plc	Tel: +353 (0) 935 1807
Mark Williams, CEO Adrian Crockett, CFO
finnCap Ltd (Nominated Adviser and Sole Broker)	Tel: +44 020 7220 0500
Geoff Nash / Seamus Fricker / George Dollemore (Corporate Finance)   Charlotte Sutcliffe / Harriet Ward (ECM)
Camarco (Financial PR Adviser)	Tel: +44 (0) 203 757 4991
Tom Huddart / Rosie Driscoll / Letaba Rimell	[email protected]

 

 

Notes to Editors

Ocean Harvest Technology Limited is a global leader in the development and commercialisation of value adding products from multiple species of seaweed. The Company provides a range of natural ingredients focused on improving animal performance whilst protecting the environment, through its unique and proven intellectual property portfolio. Ocean Harvest Technology's products are produced in its facility in Vietnam from seaweeds soured from multiple markets across the world.

For more information, please visit www.oceanharvesttechnology.com .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

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RNS Number : 6881U

Trakm8 Holdings PLC

30 March 2023

 

 

30 March 2023

Trakm8 Holdings plc

("Trakm8", the "Group" or the "Company")

Iceland Foods Awards Telematics and Optimisation Contract Extension

Trakm8 Holdings plc (AIM: TRAK), the global telematics and data insight provider today is pleased to announce that the Company has been awarded a contract extension with Iceland Foods Limited ("Iceland").

Under this contract extension the contract now extends to 31 March 2027.

Trakm8 provides full optimisation and integrated camera/telematics solutions. Under this contract extension Iceland will move onto the Trakm8 Insight platform thereby gaining access to Trakm8's other integrated services including connected care, crash notification & reconstruction and vehicle checks. A wide number of customer specific enhancements have been developed over the past twelve months to significantly improve Iceland's operational efficiency.

John Watkins, Trakm8's Executive Chairman commented: "As 'Route Monkey', Trakm8 has been contracted with Iceland since July 2013. This contract was extended in February 2016 and subsequently in August 2017. This recent contract extension reflects the hard work being done by both Iceland and Trakm8 to build a market leading home delivery solution. It is an important part of our current and future years' Fleet revenues and part of current market expectations."

 

– Ends –

 

For further information:

Trakm8 Holdings plc
John Watkins, Executive Chairman	Tel: +44 (0) 1675 434 200
Jon Edwards, Chief Financial Officer	www.trakm8.com
Allenby Capital Limited  (Nominated Adviser & Broker)	Tel: +44 (0)20 3328 5656
David Hart/ Vivek Bhardwaj, Corporate Finance Tony Quirke/ Joscelin Pinnington Sales and Corporate Broking	www.allenbycapital.com

 

About Trakm8

 

Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group uses AI data analytics collected from its installed base of telematics units to fine tune the algorithms that are used to produce its' solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.

 

The Group's product portfolio includes the latest data analytics and reporting portal (Trakm8 Insight), integrated telematics/cameras/optimisation, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 318,000 connections.

 

Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Sainsbury's, Saint Gobain, EON, Iceland Foods, GSF, Direct Line Group, Ticker and Howden.

 

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005. Trakm8 is also recognised with the LSE Green Economy Mark.

 

www.trakm8.com / @Trakm8

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

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