Last checked at 3 Feb 2022 07:00
03 February 2022 RNS REACH
DE LA RUE PLC
AUTHENTICATION CONTRACT WIN
De La Rue plc (LSE: DLAR) ("De La Rue") today announces that it has signed a contract with the Oman Tax Authority to implement a Digital Tax Stamp solution for excisable goods, as announced on 1st February 2022 in Oman.
The 5-year contract will see De La Rue and the Tax Authority implementing a tax stamp scheme for tobacco products compliant with the World Health Organisation's Framework Convention for Tobacco Control (FCTC) and product marking and serialisation for other excisable goods. Combining secure printed tax stamps and digital tracking solutions, the scheme will enable the Tax Authority to tighten control over the suppliers' commitment to pay the excise tax and to monitor the production and import processes of excisable goods. The scheme will therefore contribute to enhancing the tax revenues of Oman.
This contract represents the latest in a series of long-term contract wins for De La Rue's Authentication division, in support of the Turnaround Plan objectives. The Company expects this contract to contribute to revenue starting early in Financial Year 2022-23.
Andrew Clint, Managing Director of De La Rue Authentication said, "we are honoured to have been selected by the Tax Authority in Oman to implement this FCTC compliant digital tax stamp solution which means that all of the GCC countries that are implementing tax stamp solutions have selected De La Rue as their partner. De La Rue now secures more than 14 billion products annually across our Government Revenue Solutions (GRS) and brand protection solutions ensuring that we are protecting revenues and reputations for customers all around the world"
An Oman Tax Authority spokesperson said: "The Oman Tax Authority are delighted to be working with one of the world leaders, De La Rue, on this important project for driving improved excise tax revenues."
De La Rue plc's LEI code is 213800DH741LZWIJXP78.
Enquiries:
De La Rue plc |
| +44 (0) 7387 122645 |
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Clive Vacher |
| Chief Executive Officer |
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Rob Harding |
| Chief Financial Officer |
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Matthew Rose |
| Director of Tax, Treasury and Investor Relations |
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Kirstie Thomas |
| Investor Relations Manager |
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Brunswick |
| +44 (0)207 404 5959 |
|
Stuart Donnelly |
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Ed Brown |
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Cautionary note regarding forward-looking statements
This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "plans", "goal", "target", "aim", "may", "will", "would", "could" or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the directors, De La Rue or the Group concerning, amongst other things, the results of operations, profitability, financial condition, liquidity, prospects, growth and strategies of De La Rue and the industry in which it operates.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond De La Rue's ability to control or predict. Forward-looking statements are not guarantees of future performance. The Group's actual results of operations, profitability, financial condition, liquidity, prospects, growth and/or strategy and the development of the industry in which it operates may differ materially from the impression created by the forward-looking statements contained in this announcement. In addition, even if the results of operations, profitability, financial condition, liquidity, prospects, growth and/or strategy of the Group and the development of the industry in which it operates are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods.
Other than in accordance with its legal or regulatory obligations, De La Rue does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.