Executed Contract with HMRC for Vaping Duty Stamps

Spectra Systems Corporation

05 February 2026

 

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.

5, February 2026

Spectra Systems Corporation

Executed Contract with HMRC for Vaping Duty Stamps Scheme

Further to the RNS dated 16 January 2026, Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication, security printing, brand protection technologies and gaming security software, is pleased to announce that its security printing arm, Cartor Security Printers ("CSP"), has executed the contract with HMRC for production and supply of vape duty stamps. CSP was the primary on the contract, which was submitted in partnership with SICPA SA, a world leader in tax stamp track and trace technology.

The total estimated contract value is estimated to be £32M ($43.8M) excluding VAT and is based on five years and has an option for an additional year. Under the finalized executed contract terms, Spectra will be providing additional services and now expects its portion of the contract value to be approximately 22% of the total five-year revenue.  As the lead in the contract, Spectra will be receiving entire $43.8M of revenue and dispersing the funds accordingly. Within the CSP-led consortium, CSP will be responsible for production and supply of stamps as well as high level forensic authentication features and associated devices provided by Spectra in Rhode Island, USA. Our partner will be responsible for additional security features, tax stamp coding, along with the track and trace software solution, managing stakeholder and product registration, tax stamp ordering, making payments and collecting data and monitoring compliance for HMRC relating to the vape products' entire journey through the supply chain.

Dr. Nabil Lawandy, CEO of Spectra Systems, stated: "We are delighted to have finalized this important new contract as we continue our re-organization of the security printing business to boost profits through longer term contracts. With the first phase of the reorganization having been completed in the UK facility, we are confident that with, this new prestigious contract win, we expect to see significant profits from CSP in 2026 and more so in 2027 when the entire benefit of the restructuring is in full operation."   

The person responsible for arranging the release of this announcement on behalf of the Company is Dr. Nabil Lawandy, Chief Executive Officer of the Company.

Enquiries:

Spectra Systems Corporation Dr. Nabil Lawandy, Chief Executive Officer	Tel: [phone]
Zeus (Nominated Adviser and Joint Broker) James Joyce / James Bavister/ Andrew de Andrade (Investment Banking)  Allenby Capital Limited (Joint Broker) Nick Naylor/James Reeve (Corporate Finance) Amrit Nahal (Sales and Corporate Broking)	Tel: [phone] Tel: [phone]

 

END