MORT.L Regulatory News (MORT)

16 July 2014

Mortice Limited

Launch of Soteria and Appointment of Strategic Adviser

Launch of Soteria

Mortice Ltd (AIM: MORT), the AIM listed security and facilities management company with India focused operations, is pleased to announce the launch of a new proactive security surveillance company called "Soteria" based in Gurgaon, India. Soteria has the capability of providing its clients in India and around the world with an active surveillance service capable of stopping or preventing unwanted events rather than simply monitoring them passively.

Using purpose designed technology and software supported by IBM & GVD, Soteria gives its clients actionable intelligence based on the continuous monitoring of a desired and defined environment and through video analysis and other sensory detection is capable of actioning a physical response to investigate or control a situation.

The system is able to accept customised instructions based on specific and individual preferences and has applications for security or environmental concerns, utility management and a range of other desired services.

Trials of the system have been highly successful and Soteria is now providing the service to its first customers in India and also expects to build an international presence for the service in the UK and USA.

Manjit Rajain, the Executive Chairman of Mortice Ltd said: 

"Soteria brings immense value to our clients and we believe it fills a gap in our industry for such a product. Supported by our current in house service capability, its robust technology platform can provide seamless and continued services. Soteria has a highly motivated and strong management team and already its services have been well received in India. We are therefore confident that we can build this business into a company which generates a significant level of revenue for the Group."

Appointment of Strategic Adviser

Mortice is pleased to announce the appointment of Mr. Arun Duggal as a strategic advisor to the board. Mr. Duggal was a non-executive director of the Company until last year and his long association and experience will be very valuable.

Mr. Duggal is Chairman of Shriram Group and on the Board of Directors of Jubilant Energy, Patni Computers, Fidelity Fund Management, Ecron Acunova, Zuari Industries, Info Edge, Dish TV, and Mundra Port. He has experience as an International Banker with Bank of America for 26 years. He is also Alumini and a faculty member of IIT- Delhi and IIM-Ahmedabad.