Successful Bid for HMRC Vaping Duty Stamps Scheme

Spectra Systems Corporation

16 January 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.

16 January, 2026

Spectra Systems Corporation

("Spectra" or the "Company")

Successful Bid for HMRC Vaping Duty Stamps Scheme

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 been informed by HMRC that is has been the winning bidder for a contract by HMRC for production and supply of vape duty stamps. The CSP bid was submitted in a consortium with a world leader in tax stamp track and trace technology.

Whilst having been informed it is the successful bidder, the contract remains to be finalized and this is expected shortly and the Company will provide a further update upon its signing.

The estimated contract value is £38.4M ($51.84M) including VAT and is based on five years and has an option for an additional year. Spectra expects approximately 15% of the total five-year revenue.  Within the CSP-led consortium, CSP will be responsible for production and supply of stamps as well as authentication features and associated devices provided by Spectra in Rhode Island, USA. Our partner will be responsible for businesses to order, make payment, manage their stamps and collect data for HMRC relating to the products entire journey through the supply chain.

Andrew Brigham, Managing Director of CSP stated: "We are pleased to have received the contract award notice for what is a major contract in our home country and look forward to supporting HMRC in achieving its objectives. The award notice underscores the breadth and depth of Spectra's expertise in security printing and authentication, reflecting the company's many years of proven experience in the field "

Dr. Nabil Lawandy, CEO of Spectra Systems, stated: "We are delighted to have been selected, along with our partner, by HMRC particularly as there were other major players competing with us.  This award highlights the seamless product development and sales process between the USA and UK organizations in Spectra. Our reorganization of CSP continues to progress following the actions initiated in 2025."

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 (Corporate Finance)  Allenby Capital Limited (Joint Broker) Nick Naylor/James Reeve (Corporate Finance) Amrit Nahal (Sales and Corporate Broking)	Tel: [phone] Tel: [phone]

 

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