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.
IMAGE SCAN HOLDINGS
PLC
("Image
Scan" or the "Company")
Contract
Award
Image Scan Holdings plc (AIM: IGE), the
specialist supplier of X-ray screening systems to the security and
industrial inspection markets, is pleased to announce that it has
been selected for a contract with a prominent UK defence
contractor, NP Aerospace Limited for the supply of its ThreatScan®
portable X-ray system.
The contract (which is subject to the
finalisation of commercial terms) will commence with a three month
trial and testing process expected to commence in September 2024.
Once the trials are successfully concluded, Image Scan will
commence delivery of its ThreatScan® portable X-ray systems. The
estimated contract value is c.£3 million over a 36 month period.
The contract will not impact the sales and profit performance for
the Company's year ending on 30 September 2024 ("FY24") with
revenue and profits being recognised in FY25 and FY26.
The ThreatScan® portable X-ray system is
designed to empower bomb technicians, enabling them to conduct
rapid and accurate threat assessments across a diverse range of
operational scenarios. The system comprises a portable X-ray
generator, a detection panel, and an operator's workstation running
the Company's market-leading image processing software.
Additionally, a customer-specific range of ancillary equipment
complements the system.
Vince Deery,
Image Scan's Chief Executive, commented, "I am delighted that we have secured this contract, which has
been achieved against stiff international competition. This success
stems directly from our revised product development strategy to
focus on high performing portable systems and confirms our
confidence in the strength of our extended portable X-ray product
range within a competitive market."
"Image Scan
remains committed to providing cutting-edge solutions in X-ray
screening and reaffirms its dedication to meeting the evolving
needs of the security inspection sector."
-ENDS-
Image Scan Holdings plc
Tel: +44 (0) 1509 817400
Vincent Deery CEO
Sarah Atwell-King, CFO & Company
Secretary
WH
Ireland Limited - Nominated Advisor and
Corporate Broker Tel: +44 (0) 207 220 1666
Mike Coe/Sarah Mather (Corporate
Finance)
ABOUT IMAGE SCAN HOLDINGS
PLC
About Image Scan Holdings plc
The core activity of the Group is the manufacture of portable
X-ray systems for security and counter terrorism applications. The
Group recently launched a cabinet X-ray machine and is replacing
its Axis range of checkpoint X-ray systems with new machines
developed with a partner. All these products are taken to market
across the world through a strong network of international
partners.
In
addition, over the last sixteen years, Image Scan has developed and
manufactured industrial X-ray inspection systems, the MDXi range.
The primary market for these systems is in automotive emissions
control where they are used for quality control inspection of
catalytic converters and diesel particulate
filters.
The visibility and reach of the Company's 3DX-Ray brand has
been further strengthened through a new LinkedIn profile focussed
on its EOD and counter-terrorism activities. This can be found at:
https://www.linkedin.com/company/3dx-ray/
For further information on the Company, please
visit: www.ish.co.uk -
and for further information on its products, please
visit: www.3dx-ray.com