Last checked at 22 Mar 2018 07:59
DE LA RUE PLC
Update on UK passport tender
22 March 2018
De La Rue plc ("De La Rue" or the "Company"), the world's leading security and anti-counterfeiting provider for banknotes, identity and brand protection, today notes the decision by Her Majesty's Passport Office ("HMPO"), not to award De La Rue the contract to design and produce the UK passport when its existing contract expires in July 2019.
De La Rue has worked closely with HMPO over the last nine years, designing and producing the UK passport and establishing it as one of the most secure passports in the world. The current ten-year contract has a total value of c£400m. Today's decision is expected to have no impact on the performance of current and next financial year. The Company is disappointed with the outcome of the tender process and will now consider its options including an appeal.
De La Rue plc's LEI code is 213800DH741LZWIJXP78.
Enquiries:
De La Rue plc +44 (0)1256 605000
Martin Sutherland Chief Executive Officer
Lili Huang Head of Investor Relations
Brunswick +44 (0)207 404 5959
Katharine Spence
Stuart Donnelly
Notes to the editors:
1. De La Rue is the world's largest commercial designer and printer of passports, producing c14m passports a year
2. De La Rue is involved in a wide range of identity solution projects with customers including Cameroon, Kenya, the State of Qatar, Malta, Sierra Leone, Rwanda and the UK
3. De La Rue produced its first passport in 1915
4. De La Rue is an active member of the International Standards Organization (ISO) and an adviser to the International Civil Aviation Organisation (ICAO), helping to define passport standards and electronic infrastructure
About De La Rue
De La Rue's purpose is to enable every citizen to participate securely in the global economy. As a trusted partner of governments, central banks and commercial organisations, De La Rue provides products and services that underpin the integrity of trade, personal identity and the movement of goods.
As the world's largest designer and commercial printer of banknotes, De La Rue designs, manufactures and delivers banknotes, banknote substrates and security features to customers in a world where currency will continue to be a key part of the developing payments eco-system. De La Rue is the only integrated supplier of both paper and polymer banknotes, and creates security features that ensure banknotes are protected against counterfeiting.
De La Rue is the world's largest commercial designer and printer of passports, delivering national and international identity tokens and software solutions for governments in a world that is increasingly focused on the importance of a legal and secure identity for every individual.
De La Rue also creates and delivers secure product identifiers and 'track and trace' software for governments and commercial customers alike to help to tackle the challenge of illicit or counterfeit goods and the collection of revenue and excise duties.
De La Rue is listed on the London Stock Exchange (LSE:DLAR). For further information visit www.delarue.com