Sondrel (Holdings) plc Successful Key Milestone Completion (6494E)

TIDMSND

RNS Number : 6494E

Sondrel (Holdings) plc

03 July 2023

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation

3 July 2023

Sondrel (Holdings) plc

("Sondrel", the "Company" and together with its subsidiaries the "Group")

Successful Key Milestone Completion for turnkey ASIC engagement with a Tier 1 OEM Automotive customer

Sondrel (Holdings) plc (AIM: SND), the fabless semiconductor business providing turnkey services in the design and delivery of 'application specific integrated circuits' ("ASICs") and 'system on chips' ("SoCs") for leading global technology brands, is pleased to announce that it has successfully completed the second key milestone in respect of the material turnkey ASIC engagement for a Tier 1 OEM Automotive customer.

Further to the announcement on 15 May 2023, significant progress and investment have been made and the project remains on schedule for release to prototyping silicon manufacture later this year.

Ends

For further information:

 
 Sondrel (Holdings) plc                                Via Buchanan 
 Graham Curren, CEO                            Tel: +44 (0) 20 7466 
                                                               5000 
 Joe Lopez, CFO 
 
 Cenkos Securities plc                          Tel: +44 (0)20 7397 
                                                               8900 
 Ben Jeynes / Katy Birkin / George Lawson 
  - Corporate Finance 
 Alex Pollen / Michael Johnson - Sales 
 
 Buchanan Communications                       Tel: +44 (0) 20 7466 
                                                               5000 
 Chris Lane                                 sondrel@buchanan.uk.com 
  Stephanie Whitmore 
 Jack Devoy 
 Abby Gilchrist

About Sondrel

Sondrel is a UK-based fabless semiconductor company specialising in high end, complex digital Application Specific Integrated Circuits (ASICs) and System on Chips (SOCs). It provides a full turnkey service in the design, prototyping, testing, packaging and production of ASICs and SoCs.

The Company is one of only a few companies capable of designing and supplying the higher-spec chips built on the most advanced semiconductor technologies, selling into a range of hyper growth end markets such as high-performance computing, automotive, artificial intelligence, VR/AR, video analytics, image processing, mobile networking and data centres. Sondrel designs have enabled products by leading technology brands including Apple (iPhone), Sony (PlayStation), Meta's (Oculus), Samsung, Google and Sony smartphones, JVC (prosumer camcorders), Tesla and Mercedes-Benz cars.

Sondrel is well-established, with a 20-year track record of successful delivery, supported by long standing ecosystem partnerships including Arm, TSMC and Samsung. Headquartered in the UK, Sondrel has a global presence with offices in UK, USA, China, India and Morocco.

For more information please visit: www.ir.sondrel.com .

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July 03, 2023 02:00 ET (06:00 GMT)

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