New Contract Awarded

27 Jun 2005 07:00

Tecteon PLC27 June 2005 TECTEON PLC Clement Clarke Communications 2nd Licence Agreement and proposed strategic partnership Tecteon PLC (http://www.tecteon.com), a leading provider of voice quality,comfort listening and hearing protection technologies and solutions, has signeda second contract with Clement Clarke Communications Limited (C3)(http://www.c3headsets.com), with a minimum royalty value of £900,000(Nine Hundred Thousand Pounds), receivable within 12 months of delivering to C3a second hearing protection reference design platform. The product is scheduledfor delivery within 12 weeks of signing the contract. The agreement with C3, theUK's longest established headset provider, is in addition to an earlieragreement between the two companies announced on 22nd February 2005. Tecteon and C3 have also agreed to establish the framework for a long termstrategic partnership designed to take full advantage of other opportunities inthe market which will benefit from DSP-based voice quality solutions. To thisend, Tecteon has agreed to appoint C3 as a non-exclusive distributor in respectof Tecteon's existing technology. The agreement also provides that C3 will begranted warrants over 5.8 million Tecteon shares (representing 3% of Tecteon'scurrent issued share capital) exercisable at a price of 5p per share between1 July 2005 and 1 July 2008. Shares issued in respect of these warrants will besubject to a 12 month lock-in from the date of issue and thereafter will besubject to the usual orderly market constraints. Mark Lyon, Managing Director at C3 stated: "Clement Clarke Communications is fully committed to expand itsdigitally-enhanced product portfolio. Tecteon delivered on the technicalchallenges of TC-1000 (www.c3headsets.com/tc-1000.htm), and this has created thenecessary confidence for us to make a substantial commitment in this agreement.We look forward to the successful delivery of what I would describe as anexciting new product." Amir Nooral, CEO of Tecteon commented: "In addition to gaining a valuable contract for licensing our voice qualityreference design platform, we have demonstrated that our engineering excellencecan support important headset manufacturers in the development of theirdigitally-enhanced product supply strategy. I am confident we will deliver thiscontract within the agreed timescales and I look forward to exploring furtheropportunities with C3 to further develop our strategies in the headsets andtelephony markets." 27th June 2005For further information please contact: Tecteon PLC Tel: 020 8446 5005Amir Nooral, CEO (a.nooral@tecteon.com) Bankside Consultants Tel: 0207 367 8888Michael Padley/Susan Scott Editors' Note About Tecteon PLC Established in mid 2001, with its head office in London, UK, Tecteon PLCdevelops and markets voice enhancement software technologies and algorithmsrunning on a range of DSP platforms. Tecteon technologies provide voice quality,comfort listening and hearing protection in wired and wireless voicecommunication systems, ranging from peripheral devices to telecom infrastructureequipment, examples include: Headsets (call centre, personal, police, pilots,military, fire-fighters), telephony (business, SMEs, residential), switches(PSTN, soft-switches, gateways), digital mobile radios, mobilephones, hands-free kits and AV conferencing units. About Clement Clarke Communications Clement Clarke Communications has been designing, developing and manufacturingheadsets for over sixty years. The MOD, NATO, airlines, air traffic control andemergency services around the world rely on the quality, reliability andtechnological advancement that Clement Clarke Communications represents. In recent years, this unique heritage has enabled us to create a range of callcentre headset solutions that combine the latest communications technologieswith the reliability and durability that has always been our hallmark. ENDS This information is provided by RNS The company news service from the London Stock Exchange