Initial c£300k order for new Portable X-Ray System
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
IMAGE SCAN HOLDINGS PLC
("Image Scan" or the "Company")
Initial c.£300k order for new Portable X-Ray System
Image Scan (AIM: IGE), the specialist supplier of X-ray screening systems for security and industrial inspection, is delighted to announce it has won an initial order of approximately £300k from a partner to supply them with ThreatScan®-AS1 portable X-ray systems pursuant to a framework contract the partner has secured with a European Ministry of Defence (MOD) organisation. Further orders are expected over the period of the partner's two-year framework contract albeit the volume and timing of subsequent orders is as yet not certain.
The ThreatScan®-AS1 is part of Image Scan's expanding range of portable X-ray systems designed to equip military and counter-terrorism units for safe and rapid investigation of suspicious devices.
The initial order of ThreatScan®-AS1 portable X-ray system's valued at approximately £300k and is scheduled for delivery in H2 FY24. Further orders are expected over the period of the partner's two-year framework contract albeit the volume and timing of subsequent orders is as yet not certain.
This order represents a major milestone for Image Scan, marking the first large-scale order for the recently released ThreatScan®-AS1 for use by a European military organisation. It validates the Company's product development strategy to develop and deliver higher-performance solutions in the portable x-ray market.
The framework contract is not expected to impact Image Scan's working capital requirements. The initial order is supportive of the Company's expectations for the year ended 30 September 2024.
Vince Deery, CEO of Image Scan, commented: "We are thrilled to announce this initial order, it marks a major step forward in positioning our portable X-ray product line and underscores the strength of our international sales and marketing efforts. We are confident that the superior capabilities of our new systems will resonate with other customers globally."
For further information on the Company, please visit: www.ish.co.uk and for further information on its products, please visit: www.3dx-ray.com
-ENDS-
Image Scan Holdings plc Tel: +44 (0) 1509 817400
Vincent Deery CEO
Sarah Atwell-King, CFO & Company Secretary
WH Ireland Limited - Nominated Advisor and Corporate Broker Tel: +44 (0) 207 220 1666
Mike Coe/Sarah Mather (Corporate Finance)
ABOUT IMAGE SCAN HOLDINGS PLC
About Image Scan Holdings plc
The core activity of the Group is the manufacture of portable X-ray systems for security and counter terrorism applications. The Group recently launched a cabinet X-ray machine and is replacing its Axis range of checkpoint X-ray systems with new machines developed with a partner. All these products are taken to market across the world through a strong network of international partners.
In addition, over the last sixteen years, Image Scan has developed and manufactured industrial X-ray inspection systems, the MDXi range. The primary market for these systems is in automotive emissions control where they are used for quality control inspection of catalytic converters and diesel particulate filters.
The visibility and reach of the Company's 3DX-Ray brand has been further strengthened through a new LinkedIn profile focussed on its EOD and counter-terrorism activities. This can be found at: https://www.linkedin.com/company/3dx-ray/
For further information on the Company, please visit: www.ish.co.uk - and for further information on its products, please visit: www.3dx-ray.com
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