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.
18 December 2024
Spectra Systems Corporation
("Spectra" or the "Company")
$9.4M downpayment on sensor manufacturing contract
Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, security printing, brand protection technologies and gaming security software, is pleased to announce that it has received the initial downpayment of $9.4M from our customer for the manufacturing of advanced high-speed banknote sensors. This down payment is part of the total contract value of $39.6M announced on 16 July 2024.
Dr. Nabil Lawandy, Chief Executive Officer, stated: "We are keen to accelerate our manufacturing program with this infusion of cash to support our customer's requirements. Furthermore, this infusion of cash will significantly replenish our cash position following both the acquisition of Cartor Security Printers in December of 2023 as well as advance purchases of components for our customer's sensor order."
The person responsible for arranging the release of this announcement on behalf of the Company is Dr. Nabil Lawandy, Chief Executive Officer of the Company.
Enquiries:
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Spectra Systems Corporation Dr. Nabil Lawandy, Chief Executive Officer |
Tel: +1 (0)401 274 4700 |
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Zeus (Nominated Adviser and Joint Broker) Chris Fielding / James Bavister/ Andrew de Andrade (Corporate Finance) Allenby Capital Limited (Joint Broker) Nick Naylor/James Reeve (Corporate Finance) Amrit Nahal (Sales and Corporate Broking) |
Tel: +44 (0)20 3829 5000 Tel: +44 (0)20 3328 5665 |