Universe Group PLC Contract Win & Change of Management Roles (5626B)
June 11 2021 - 2:00AM
UK Regulatory
TIDMUNG
RNS Number : 5626B
Universe Group PLC
11 June 2021
11 June 2021
AIM: UNG.L
Universe Group plc
("Universe", the "Company" or the "Group")
Contract Win
Change of Management Roles
Universe Group plc (AIM: UNG.L), a leading developer and
supplier of retail management solutions, payment and loyalty
systems, is pleased to announce a three year extension of an
existing contract with a major UK based supermarket involving the
provision of forecourt payment capabilities (as previously referred
to in the Group's final results). This material contract extension
provides further visibility for the Group over future revenues. As
previously indicated, the Group had prepared for its fulfilment by
acquiring inventory in anticipation which will now unwind as the
contract is implemented.
The contract is in addition to the recent five-year extension of
an existing contract with a major international oil and gas group
(announced in April) and provides a positive outlook for the Group
as COVID-19 restrictions look to ease further in the coming
weeks.
The Group has continued to trade in line with the Board's
expectations for the year to date.
Change of Management Roles
The new Chief Executive, Neil Radley and the new Chief Financial
Officer, Adrian Wilding both joined the Group on 1 May 2021. Ivan
Brooks steps down from his interim position on 1 July 2021 and we
thank Ivan for helping ensure a smooth management transition. Ivan
continues to be a non-executive director of the Company.
Notice of AGM
As previously notified, the Group will be hosting its Annual
General Meeting at 11 am on 29 June 2021 at its offices at George
Curl Way, Southampton SO18 2RX. The notice of this meeting has been
posted to shareholders together with the Group's Annual Report. As
set out in the notice, the AGM remains subject to social distancing
restrictions and limitations and physical attendance at the meeting
is not encouraged.
Neil Radley, Chief Executive of Universe Group plc, commented:
"The Company has undergone significant internal changes over the
last two months and it is good to see that the momentum of the
business has not been affected. It is very encouraging to see one
of our major retail partners renewing their multi-year relationship
with us, a good indication of our standing within the market.
Adrian and I continue to review the business and its strategy and
we look forward to providing more detailed guidance on the route
map at the time of the release of the Company's interim results in
September 2021."
For further information:
Universe Group plc Tel: +44 2380 689 510
Andrew Blazye, Executive Chairman
Neil Radley, Chief Executive
Officer
Adrian Wilding, Chief Financial
Officer Tel: +44 20 7220 0500
finnCap
Henrik Persson (Corporate
Finance)
Seamus Fricker (Corporate Tel: +44 20 3934 6630
Finance)
Richard Chambers (ECM)
IFC Advisory
Tim Metcalfe
Graham Herring
Florence Chandler
About Universe Group plc:
Universe provides some of the world's leading retailers with
retail management solutions, payment and loyalty systems. The
Group's solutions are based on its own proprietary software and are
offered out of the cloud on a software as a service model
processing over 20 billion transactions every year. For further
information, please see www.universe-group.co.uk
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END
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