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Trakm8 Hldgs Regulatory News (TRAK)



Regulatory News for Trakm8 Hldgs (TRAK)


Share Price: 110.00Bid: 105.00Ask: 115.00Change: 1.50 (+1.38%)Riser - Trakm8 Hldgs
Spread: 10.00Spread as %: 9.52%Open: 108.50High: 0.00Low: 0.00Yesterday’s Close: 108.50





Contract Extension

Wed, 3rd May 2017 07:00

RNS Number : 8987D
Trakm8 Holdings PLC
03 May 2017
 

TRAKM8 HOLDINGS PLC

 

("Trakm8" or the "Group")

 

Direct Line Group Awards Trakm8 Telematics Contract Extension

 

 

Trakm8, the AIM-listed telematics and data insight provider, is pleased to announce it has been awarded a contract extension by Direct Line Group, the UK's leading motor vehicle insurance company.

 

The contract extension covers the provision of T10 hardware and data services supplied to Direct Line that was first announced by Trakm8 in January 2014. The new extension will extend the contract until April 2020.

 

Trakm8 have over 110,000 devices reporting in insurance applications built from a zero base three years ago and Direct Line are a significant part of this.

 

John Watkins, Executive Chairman of Trakm8 commented: 

"We have been working with Direct Line for 3 years providing insurance telematics solutions. We were the first company to offer a plug in self fit device in volume in the UK and the success of the product has resulted in this contract being extended for a further 3 years. We are delighted to continue this relationship as the demand increases. This contract provides additional visibility for our expectations for the financial year and beyond."

 

Dan Freedman, Director of Motor Insurance commented:

"We have been pleased to extend the contract with Trakm8 for a further 3 years. We expect to continue to deploy market leading telematics solutions in conjunction with them and the Floow, as Apps and data analytics provider."

 

 

For further information please contact:

 

Trakm8 Holdings plc

+44 (0) 174 785 8444

John Watkins, Executive Chairman


James Hedges, Finance Director




finnCap (Nomad and broker)

+44 (0) 20 7220 0500

Ed Frisby / Simon Hicks - corporate finance


Tim Redfern / Richard Chambers - corporate broking




MHP Communications

+44 (0) 20 3128 8100

Reg Hoare


Charlie Barker


 

 

 

About Trakm8

Trakm8 is a UK based Big Data company utilising telematics as its primary enabler. Through IP owned technology, over three billion miles worth of data is collected annually through its fleet management solutions to create and fine tune algorithms used to score driver behaviour, monitor vehicle health and continuously improve the security and operational efficiencies of customers' vehicles.

 

With its headquarters in Dorset and a manufacturing facility in the West Midlands, the Group supplies a number of well-known customers in the fleet management and insurance sectors across the UK and further afield including customers such as the AA, Saint Gobain, EON, Direct Line Group and Young Marmalade.

 

The Group's portfolio offers complete telematics solutions including dashboard cameras that enable customers to record driving incidents and mitigate the risk from "crash to cash" accidents. This is complemented through a comprehensive hardware range, which includes a self-install unit that is one of the smallest available on the global market.

 

The Group acquired both Route Monkey and Roadsense Technologies Ltd. Route Monkey has enhanced Trakm8's logistics solution offering route scheduling and optimisation, including routing for electric vehicles. Roadsense has been acquired to strengthen the Group's presence in the SME fleet management market.

 

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.

 

www.trakm8.com / @Trakm8

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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Related Shares:
Trakm8 Holdings (TRAK)




DateSourceHeadlineCategory
02-Jan-18 09:22RNSHolding(s) in CompanyHolding(s) in Company
04-Dec-17 11:04RNSDirector/PDMR ShareholdingDirectors' Dealings
27-Nov-17 14:02RNSIssue of Options, Exercise of Options and TVRHolding(s) in Company
27-Nov-17 07:00RNSHalf-year ResultsResults and Trading Reports
23-Oct-17 07:00RNSTrading Update and Notice of ResultsCompany Announcement - General
06-Sep-17 11:49RNSResult of AGMResults and Trading Reports
06-Sep-17 07:00RNSAGM Statement and Trading UpdateResults and Trading Reports
31-Aug-17 11:30RNSDirectorate ChangeExecutive Changes
31-Aug-17 07:00RNSIntelematics Concludes Telematics Supply ContractCompany Announcement - General
11-Aug-17 13:01RNSDirector/PDMR ShareholdingDirectors' Dealings
11-Aug-17 07:00RNSNotice of AGM & Technology Roadshow for InvestorsResults and Trading Reports
08-Aug-17 07:00RNSContract winCompany Announcement - General
04-Jul-17 14:00RNSIssue of OptionsDirectors' Dealings
03-Jul-17 07:00RNSFinal ResultsResults and Trading Reports
07-Jun-17 07:00RNS-RContract Extension with ShellCompany Announcement - General
01-Jun-17 13:08RNSPDMR ShareholdingDirectors' Dealings
30-May-17 07:00RNS-RMecalac awards Trakm8 telematics contractCompany Announcement - General
31-May-17 07:00RNSContract ExtensionCompany Announcement - General
24-May-17 07:00RNSContract winCompany Announcement - General
03-May-17 07:00RNSContract ExtensionCompany Announcement - General
28-Apr-17 07:00RNSTrading StatementResults and Trading Reports
07-Apr-17 07:00RNSDirector/PDMR ShareholdingDirectors' Dealings
06-Apr-17 09:40RNSDirector/PDMR ShareholdingDirectors' Dealings
04-Apr-17 07:00RNS-RContract ExtensionCompany Announcement - General
31-Mar-17 07:00RNSAppointment of Deputy ChairmanExecutive Changes
14-Mar-17 10:54RNSHolding(s) in CompanyHolding(s) in Company
10-Mar-17 08:15RNSDirector Shareholdings & Total Voting RightsDirectors' Dealings
03-Mar-17 12:58RNSCompletion of Capital RaisingCompany Announcement - General
03-Mar-17 07:00RNSProposed Capital RaisingCompany Announcement - General
21-Feb-17 09:43RNSDirector/PDMR ShareholdingCompany Announcement - General


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