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Starcom PLC - remote tracking systems, based in Jersey - Says in advanced talks for "potentially substantial projects" in relation to supply of its devices for the tracking and monitoring of containers. "Should these be successfully concluded they could provide significant revenues over the next few years," Starcom says. Warns there is no certainty deals will be concluded, but is hopeful in agreeing one or more contracts before year-end. Says one potential deal is with "one of the major companies in the field of tracking and monitoring containers".
In addition, Starcom says it intends to rebrand its products and increase global marketing plans, now that travel curbs have eased. Also mulling a possible name change. Notes second half trading to improve from first half, "but much depends on the finalisation and timing of signature of the contracts". Says not immune to supply chain challenges. Starcom also announces it has raised GBP450,000 through subscription of 36.0 million shares at 1.25 pence each.
Current stock price: 1.19 pence, up 29% on Friday afternoon
Year-to-date change: up 21%
By Eric Cunha; ericcunha@alliancenews.com
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