Source - RNS
RNS Number : 3855L
Starcom PLC
30 September 2016
 

 

 

30 September 2016

 

Starcom Plc

("Starcom" or the "Company")

 

 

Update on Distributor Order with Global Tracking Technology

 

Starcom (AIM: STAR), which specialises in the development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets and people, is pleased to provide an update on the contract awarded to its African distributor, Global Tracking Technology plc ("Global Tracking"), by Ethio telecom, as announced on 15 October 2015. Ethio telecom ("Ethio") is an integrated telecommunications solutions provider operating in Ethiopia offering internet, data, VAS, international and voice services throughout the entire country on both voice and internet and data channels.

 

An initial order for 400 Helios Advanced units has been received out of a total order of 1,350 units for installation on Ethio's transportation fleet. The balance of 950 units, which will replace competitor systems, is to be installed before the end of 2016. Starcom, through Global Tracking, is also to provide its online SAS tracking and data management system.

 

In 2017 and 2018, Global Tracking expects further orders from Ethio for a total of 3,000 Helios units. Orders from other customers in 2017 and 2018 are expected to amount to 2,000 Helios units (together with SAS systems), making a total of 5,000 units for those years.

 

Revenues from the 1,350 Helios units expected to be ordered in 2016 are estimated to amount to US$120,000. Revenues from the 5,000 Helios units expected to be ordered in 2017 and 2018 are estimated to amount to US$445,000. Total SAS recurring revenues in 2017 and 2018 from the units expected to be ordered in 2016 to 2018 are estimated at a minimum of US$150,000.

 

Avi Hartmann, CEO of Starcom said: "Although this order has taken longer to implement than expected, we are delighted it is now under way and is the first we have achieved with a telecom company which includes its own SIM card installed with our tracking solution.  The Board believes that this may help in opening up additional businesses in this sector."

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

-ends-

 

For further information, please contact:

 

Starcom Plc


Michael Rosenberg, Chairman

07785 727 595

Avi Hartmann, CEO

+972 5430 70103

+972 3619 9901

 

Northland Capital Partners Limited

020 3861 6625

Nominated Adviser and Broker                                          

Edward Hutton / David Hignell

(Corporate Finance)

 

John Howes / Abigail Wayne

(Sales and Broking)

 


Peterhouse Corporate Finance Limited

Joint Broker

020 7469 0930

Lucy Williams / Charles Goodfellow / Eran Zucker

 


Leander PR

Financial PR                                                              

020 7520 9267

Christian Taylor-Wilkinson

07795 168 157

 

 

 

 

Notes to Editors:

 

Global Tracking Technology plc is a location based service provider for the supply chain management. It offers logistics management systems throughout Ethiopia and Africa. Global Tracking offers Fleet Management Systems (FMS) and Electronic Cargo Tracking Systems (ECTS) along with monitoring services to trucking companies within Ethiopia and beyond.

 

Global Tracking has secured operational licenses from the Ministry of Trade, Ministry of Transport and the Ethiopian Revenue and Customs Authority with fully deployed systems.

The company is one of two licensed companies within the region. The Company currently has contracts with 16 companies, most notably Oilibya (formerly Shell Oil), Coca Cola, Pepsi Cola, National Oil Ethiopia, National Cement, Weyera Transport, and Sky Bus.

 

Under FMS, Global Tracking offers Basic Track & Trace and Advanced Tracking services.

For further information please go to: www.gtiplc.com

 

 

Ethio telecom is an integrated telecommunications solutions provider operating in Ethiopia offering internet, data, VAS, International and voice services throughout the entire country on both voice, internet & data, channels. http://www.ethiotelecom.et/?q=aboutus

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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