9 August 2024
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("Kinovo", the "Company" or
the "Group")
New Direct Awards from
Framework Agreements
Kinovo Plc (AIM: KINO), the
specialist property services Group that delivers compliance and
sustainability solutions, is pleased to announce that it has
received a number of direct awards from new clients following its
successful placing on the National Housing Maintenance Forum
("NHMF") Framework for
Planned Maintenance, Net Zero Carbon and Passive Fire Safety
Works.
The direct awards received under the
NHMF Framework for Planned Maintenance, Net Zero Carbon and Passive
Fire Safety Works relate to retrofit works under our Renewables
pillar, to improve the energy efficiency for up to 282 properties
across North and East London on behalf of housing association
members of the North River Alliance, and includes support from the
Social Housing Decarbonisation Fund ("SHDF").
A total of seven individual direct
awards have been signed to date by Bangla Housing Association,
Christian Action (Enfield) Housing Association, Innisfree Housing
Association, Islington and Shoreditch Housing Association, Lambeth
Self Help Housing Association, North London Muslim Housing
Association and Providence Row Housing Association.
These housing associations are all
new clients, which provides opportunities to build new
relationships whilst further diversifying our client portfolio and
potential workstreams. The Company expects to receive further
direct awards from more housing associations within the North River
Alliance under this NHMF framework agreement.
The overall call-off contract term
for each direct award is for 5 years, with an initial aggregate
contract value of up to £5.3 million issued for two years relating
specifically to the retrofit works programme, effective from
1st July 2024. Additional works may also be issued
by each client within the 5 year term.
David Bullen, Chief Executive Officer of Kinovo plc,
commented:
"I
am pleased that our organic growth strategy continues to deliver
new business wins, with our framework agreements demonstrating
their value as we translate our opportunities into direct
awards.
Alongside this, the ongoing diversification of our client base
through new client wins also serves to further strengthen our
platform to build relationships, establish partnerships and broaden
our revenue streams. These new awards will help to underpin our
revenue target for the current year.
The recent investment in our retrofit team positions us well
to deliver a best in class service to our clients and to further
expand our presence under our Renewables pillar. These new awards
underpin our strategic objectives to accelerate organic growth,
capitalising on external drivers of increasing compliance and
requirements for decarbonisation."
Enquiries
Kinovo plc
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Sangita Shah, Chairman
David Bullen, Chief Executive
Officer
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+44 (0)20 7796 4133
(via Hudson Sandler)
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Canaccord Genuity Limited (Nominated Adviser and Sole Broker)
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+44 (0)20 7523 8000
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Adam James
Andrew Potts
Harry Rees
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Hudson Sandler (Financial
PR)
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+44 (0)20 7796 4133
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Dan de Belder
Harry Griffiths
Will Reynish
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