EXTENSION OF THE BANK OF ENGLAND CONTRACT
30 October 2020
DE LA RUE PLC
EXTENSION OF THE BANK OF ENGLAND CONTRACT
De La Rue plc (LSE: DLAR) ("De La Rue") is pleased to announce that the Bank of England ("the Bank") has confirmed it will exercise its option to extend its existing banknote print contract by three years, maintaining De La Rue's exclusivity in printing Bank of England banknotes and operating the Bank's facility in Debden, Essex, until 2028.
Today's announcement continues the partnership between De La Rue and the Bank of England, that stretches back to 2003. The current contract was awarded to De La Rue in October 2014, becoming effective from April 2015.
Sarah John, Bank of England Chief Cashier, said, "The relationship with De La Rue is an important one for the Bank of England. During the course of the current contract, we have worked closely together to launch three new banknote designs on polymer. In 2021, the release of the new Alan Turing £50 note will complete our polymer set. We are very pleased to announce the extension of the contract today, which will enable us to continue to develop our Debden facility as a global centre of excellence for banknote printing."
Clive Vacher, CEO of De La Rue, said, "We are delighted that our contract with the Bank of England has been extended to 2028, highlighting De La Rue's commitment to UK manufacturing. Our relationship with the Bank of England, and the operations in Debden, form a cornerstone of our growth strategy for currency design and print, including the conversion of customers worldwide onto cleaner, more secure SAFEGUARD® polymer banknotes. The facilities at Debden produce some of the most technically complex banknotes in the world and we work closely with the Bank of England to reduce the environmental impact of our operations. We look forward to continuing to work together with the Bank, raising the bar for security and sustainability long into the future."
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Enquiries:
De La Rue plc +44 (0)7387 122645
Kevin Loosemore Chairman
Clive Vacher Chief Executive Officer
Matthew Rose Director of Tax, Treasury and Investor Relations
Brunswick Group LLP +44 (0)207 404 5959
Stuart Donnelly/ Imran Jina
De La Rue plc's LEI code is 213800DH741LZWIJXP78
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