03 January 19
("Tracsis" or the "Group")
Significant Contract Win
Tracsis plc, a leading provider of software and services for the traffic data and transportation industry, is pleased to announce that it has signed a significant five year Framework Agreement with a major Train Owning Group for its TRACS Enterprise product. The Agreement covers all of the Operator's individual Train Operating Companies (TOCs) within the UK plus other franchises that the Owning Group may win in future.
The total potential value over the duration of the Framework Agreement is expected to be multi million pounds although given the 'call off' nature of the Agreement, the number of modules used and the specific timing of implementation (and therefore revenue) is difficult to forecast with certainty. However, the Directors believe this is a key win for Tracsis that will lead to significant recurring revenue opportunities within the duration of the Agreement and beyond. For the avoidance of doubt, at this point in time there will be no change made to current year forecasts.
Tracsis plc | Tel: 0845 125 9162
John McArthur, CEO
Max Cawthra, CFO
finnCap Ltd | Tel: 020 7220 0500
Christopher Raggett/Scott Mathieson, Corporate Finance
Andrew Burdis, Corporate Broking
The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.