Narf Industries PLC New Task Order Awards of $1.2 million (1969L)
04 9월 2023 - 3:00PM
UK Regulatory
TIDMNARF
RNS Number : 1969L
Narf Industries PLC
04 September 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION
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4 September 2023
NARF INDUSTRIES PLC
("NARF", the "Company", or the "Group")
New Task Order
Awards of $1.2 million Under
Exclusive US Government Omnibus Contract for Cutting-Edge
Cybersecurity Solutions
Narf Industries plc (LSE: NARF)(OTCQB: NFIN.F) the cybersecurity
group specialising in high-end threat intelligence and critical
infrastructure security is pleased to announce that its subsidiary,
Narf Industries LLC, has received new task order awards ("orders")
totaling $1.2 million under its exclusive US Government Omnibus
contract vehicle (the "Omnibus Contract"). This brings awards under
the first 10 months of the Omnibus Contract to $2.6 million.
Highlights
-- Expanding demand for NARF's innovative Government Solutions and Services ("GS&S")
-- Omnibus Contract enables swift access to NARF's unique and distinctive GS&S capabilities
-- GS&S expected to become a significant contributor to
NARF's revenue in 2023 and future growth
Background On Omnibus Contract and Task Orders
The Omnibus Contract, which was recently renewed for five years,
provides US government agencies swift access to NARF's innovative
and unique cybersecurity solutions and services by significantly
streamlining procurement cycles and reducing administrative
complexities.
One of the contract's key features is that it allows US
government agencies to seamlessly place orders for the prompt
deployment of NARF's specialised cyber security software and work
by eliminating repetitive contract award administration and
evaluations. This approach not only enhances efficiency but also
amplifies the US government's ability to respond swiftly to
emerging cyber security threats.
Commenting on the new orders, Steve Bassi, CEO of NARF said:
"Our successful track record of providing small, innovative and
quick delivery solutions earned NARF the trust of customers and
resulted in the renewal of the Omnibus Contract which runs until
the end of November 2027.
"With security breaches and targeted attackers increasing at an
unprecedented rate, NARF's reputation as a specialist in the space
provides us with a considerable opportunity for growth and we
expect GS&S orders under the Omnibus Contract to become a
significant part of that."
John Herring, Executive Chairman of NARF added : "Over the past
six months Steve and the team have intensified focus on GS&S
opportunities available under our exclusive US government Omnibus
Contract given our stated strategy to scale and expand our GS&S
offering. The results are promising, and we expect to concentrate
additional resources over the coming months to capitalize on the
unique opportunity it provides us."
NARF reported revenue in 2022 of $2.56 million and is currently
projecting a 130% increase in 2023 to $5.8 million. The Company
expects GS&S to contribute significantly to growth in 2023 and
believes it is well positioned to accelerate GS&S revenue in
future periods.
ENDS
For further information please visit www.narfgroup.com , see
Narf's blog post or contact:
John Herring NARF Tel: +44 (0) 20 3468
2212
Catherine Leftley/Paul St Brides Partners narf@stbridespartners.co.uk
Dulieu/Isabel de Salis
------------------- ---------------------------
Peter Krens Tennyson Securities Tel: +44 (0)207 186 9030
------------------- ---------------------------
About NARF Industries plc
Narf Industries (LSE: NARF)(OTCQB: NFIN.F) is a US based cyber
security group specialising in high-end threat intelligence with a
focus on critical infrastructure. The Group leads commissioned
cyber security R&D and is commercialising a portfolio of
products including TIGR that can be used by utilities and cyber
first responders to restore power to electric grids and protecti
other key infrastructure that has suffered a cyber-attack. The
Group aims to further strengthen its portfolio organically and via
acquisition; opportunities which its team of highly qualified cyber
security experts is well placed to identify.
Important notice
The content of this announcement has not been approved by an
authorised person within the meaning of the Financial Services and
Markets Act 2000 (FSMA). This announcement has been issued by and
is the sole responsibility of the Company. The information in this
announcement is subject to change. This announcement is not an
offer of securities for sale into the United States. The securities
referred to herein have not been and will not be registered under
the U.S. Securities Act of 1933, as amended (the Securities Act),
and may not be offered or sold, directly or indirectly, in or into
the United States, except pursuant to an applicable exemption from
registration. No public offering of securities is being made in the
United States. This announcement is not for release, publication or
distribution, directly or indirectly, in or into Australia, the
Republic of South Africa, Japan or any jurisdiction where to do so
might constitute a violation of local securities laws or
regulations (a Prohibited Jurisdiction). This announcement and the
information contained herein are not for release, publication or
distribution, directly or indirectly, to persons in a Prohibited
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END
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