EQN.L Share News (EQN)

(Sharecast News) - Equiniti has won a contract to run the UK media and telecoms watchdog's scheme to compensate users of low-frequency radio spectrum that is being cleared for use in 5G mobile services.Ofcom's Programme Making and Special Events grant funding scheme will compensate users such as theatres, broadcasters and organisers of live music and sporting events as they have to stop using equipment on the 700 MHZ band by the end of April 2020.Equiniti, which worked with Ofcom on the 800 MHZ clearance scheme in 2010, will operate the regulator's claims management system to handle compensation requests for what is thought will be up to 20,000 items of PMSE equipment."We are delighted to have won this contract and look forward to working in collaboration with Ofcom again having managed a similar project for them nearly a decade ago," said Gavin Lane, senior director at Equiniti."Since then, Equiniti has broadened its range of client propositions and established its pedigree in the flawless execution of highly-complex, multi-disciplinary projects - this winning bid evidences our digital journey and expertise in registration and payments."